185,459 Shares in Light & Wonder, Inc. (NASDAQ:LNW) Acquired by Bank of Nova Scotia

Bank of Nova Scotia purchased a new position in Light & Wonder, Inc. (NASDAQ:LNW) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 185,459 shares of the company’s stock, valued at approximately $16,020,000.

Other hedge funds also recently made changes to their positions in the company. Invesco Ltd. boosted its position in shares of Light & Wonder by 37.0% during the fourth quarter. Invesco Ltd. now owns 587,809 shares of the company’s stock valued at $50,775,000 after buying an additional 158,790 shares during the period. Bank of Montreal Can lifted its holdings in Light & Wonder by 11.3% during the fourth quarter. Bank of Montreal Can now owns 10,818 shares of the company’s stock worth $934,000 after buying an additional 1,099 shares during the period. Federated Hermes Inc. boosted its position in Light & Wonder by 10.6% during the fourth quarter. Federated Hermes Inc. now owns 35,311 shares of the company’s stock valued at $3,050,000 after purchasing an additional 3,397 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Light & Wonder in the 4th quarter valued at about $224,000. Finally, Bryce Point Capital LLC acquired a new stake in Light & Wonder in the fourth quarter valued at approximately $498,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Light & Wonder Stock Down 6.8 %

Shares of Light & Wonder stock opened at $78.09 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. The company has a market cap of $6.60 billion, a P/E ratio of 24.25, a PEG ratio of 0.35 and a beta of 1.38. Light & Wonder, Inc. has a one year low of $75.46 and a one year high of $115.00. The firm has a fifty day moving average of $97.22 and a two-hundred day moving average of $93.81.

Insider Activity at Light & Wonder

In related news, CAO Vanja Kalabic sold 1,132 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $104.41, for a total value of $118,192.12. Following the sale, the chief accounting officer now owns 5,016 shares of the company’s stock, valued at approximately $523,720.56. This represents a 18.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Siobhan Lane sold 3,784 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.37, for a total transaction of $398,720.08. Following the sale, the chief executive officer now directly owns 21,254 shares in the company, valued at $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. Insiders sold 9,867 shares of company stock worth $1,037,884 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

LNW has been the topic of several research analyst reports. Macquarie boosted their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Benchmark upped their target price on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Mizuho raised their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, February 26th. Stifel Nicolaus dropped their price objective on Light & Wonder from $104.00 to $93.00 and set a “hold” rating on the stock in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.91.

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.