Fmr LLC Sells 22,880 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Fmr LLC trimmed its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 1.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,429,172 shares of the company’s stock after selling 22,880 shares during the quarter. Fmr LLC’s holdings in Light & Wonder were worth $123,452,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Captrust Financial Advisors bought a new position in Light & Wonder during the third quarter worth about $261,000. Public Employees Retirement System of Ohio raised its position in shares of Light & Wonder by 2.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 35,960 shares of the company’s stock valued at $3,263,000 after acquiring an additional 804 shares during the period. Barclays PLC boosted its stake in Light & Wonder by 539.6% during the 3rd quarter. Barclays PLC now owns 155,852 shares of the company’s stock worth $14,142,000 after acquiring an additional 131,486 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Light & Wonder during the third quarter valued at approximately $222,000. Finally, Tidal Investments LLC increased its stake in Light & Wonder by 18.0% in the third quarter. Tidal Investments LLC now owns 8,038 shares of the company’s stock valued at $729,000 after purchasing an additional 1,226 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Light & Wonder

In related news, CFO Oliver Chow sold 2,595 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $104.94, for a total transaction of $272,319.30. Following the transaction, the chief financial officer now directly owns 3,695 shares in the company, valued at approximately $387,753.30. The trade was a 41.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James Sottile sold 2,356 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total transaction of $248,652.24. Following the completion of the sale, the vice president now owns 77,331 shares of the company’s stock, valued at approximately $8,161,513.74. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,867 shares of company stock worth $1,037,884 in the last three months. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

LNW has been the subject of several research analyst reports. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Macquarie boosted their target price on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Stifel Nicolaus dropped their price target on Light & Wonder from $104.00 to $93.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. Jefferies Financial Group boosted their price objective on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Benchmark raised their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Light & Wonder presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.91.

Light & Wonder Stock Up 0.9 %

Light & Wonder stock opened at $78.73 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a 1-year low of $75.46 and a 1-year high of $115.00. The company has a fifty day simple moving average of $96.89 and a 200 day simple moving average of $93.62. The company has a market cap of $6.65 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38.

About Light & Wonder

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.