Optimize Financial Inc Purchases New Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Optimize Financial Inc acquired a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,032 shares of the company’s stock, valued at approximately $435,000.

Several other hedge funds have also recently bought and sold shares of LNW. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Light & Wonder by 2.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock worth $387,000 after acquiring an additional 108 shares during the period. Xponance Inc. raised its position in Light & Wonder by 0.7% during the fourth quarter. Xponance Inc. now owns 17,769 shares of the company’s stock valued at $1,535,000 after purchasing an additional 120 shares in the last quarter. CIBC Asset Management Inc raised its position in Light & Wonder by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock valued at $510,000 after purchasing an additional 146 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Light & Wonder by 0.5% during the fourth quarter. New York State Common Retirement Fund now owns 40,250 shares of the company’s stock worth $3,477,000 after purchasing an additional 200 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Light & Wonder by 12.2% in the 4th quarter. LPL Financial LLC now owns 2,677 shares of the company’s stock valued at $231,000 after purchasing an additional 291 shares in the last quarter. 88.08% of the stock is owned by institutional investors.

Insider Buying and Selling at Light & Wonder

In related news, CAO Vanja Kalabic sold 1,132 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $104.41, for a total value of $118,192.12. Following the transaction, the chief accounting officer now owns 5,016 shares in the company, valued at $523,720.56. The trade was a 18.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Sottile sold 2,356 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following the sale, the vice president now owns 77,331 shares of the company’s stock, valued at approximately $8,161,513.74. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,867 shares of company stock worth $1,037,884. Insiders own 2.10% of the company’s stock.

Light & Wonder Stock Performance

Shares of Light & Wonder stock opened at $78.01 on Friday. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 24.23, a P/E/G ratio of 0.35 and a beta of 1.38. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve month high of $115.00. The company’s fifty day moving average is $97.05 and its 200 day moving average is $93.71.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LNW shares. Stifel Nicolaus dropped their price objective on Light & Wonder from $104.00 to $93.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. Mizuho increased their target price on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. Benchmark lifted their price target on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 28th. Macquarie upped their price objective 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. Finally, Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.