National Bank of Canada FI Invests $12.03 Million in Light & Wonder, Inc. (NASDAQ:LNW)

National Bank of Canada FI bought a new stake in Light & Wonder, Inc. (NASDAQ:LNW) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 139,300 shares of the company’s stock, valued at approximately $12,033,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Light & Wonder in the fourth quarter valued at approximately $35,000. Quarry LP purchased a new position in shares of Light & Wonder during the third quarter worth approximately $51,000. Blue Trust Inc. increased its holdings in shares of Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company’s stock valued at $65,000 after acquiring an additional 474 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Light & Wonder in the 3rd quarter valued at $104,000. Finally, Sanctuary Advisors LLC purchased a new stake in Light & Wonder in the 3rd quarter valued at $222,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP James Sottile sold 2,356 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following the completion of the transaction, the vice president now directly owns 77,331 shares of the company’s stock, valued at $8,161,513.74. This trade represents a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Siobhan Lane sold 3,784 shares of Light & Wonder stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.37, for a total value of $398,720.08. Following the transaction, the chief executive officer now directly owns 21,254 shares of the company’s stock, valued at approximately $2,239,533.98. This represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,867 shares of company stock valued at $1,037,884. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on LNW shares. Benchmark raised their price objective on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Stifel Nicolaus reduced their price objective on Light & Wonder from $104.00 to $93.00 and set a “hold” rating for the company in a research note on Thursday. Jefferies Financial Group lifted their target price on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, Mizuho upped their price target on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Light & Wonder currently has an average rating of “Moderate Buy” and an average target price of $109.91.

Light & Wonder Price Performance

Shares of NASDAQ LNW opened at $79.78 on Friday. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. Light & Wonder, Inc. has a one year low of $75.46 and a one year high of $115.00. The firm has a market capitalization of $6.74 billion, a P/E ratio of 24.78, a PEG ratio of 0.35 and a beta of 1.59. The company’s fifty day moving average is $98.14 and its two-hundred day moving average is $95.01.

Light & Wonder Company Profile

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.