US Bancorp DE Sells 1,782 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

US Bancorp DE decreased its position in Light & Wonder, Inc. (NASDAQ:LNW) by 64.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 981 shares of the company’s stock after selling 1,782 shares during the quarter. US Bancorp DE’s holdings in Light & Wonder were worth $85,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Light & Wonder during the fourth quarter valued at about $596,000. Ieq Capital LLC grew its stake in shares of Light & Wonder by 590.3% during the 4th quarter. Ieq Capital LLC now owns 20,343 shares of the company’s stock valued at $1,757,000 after acquiring an additional 17,396 shares during the period. New York State Common Retirement Fund increased its holdings in Light & Wonder by 0.5% in the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company’s stock worth $3,477,000 after acquiring an additional 200 shares in the last quarter. CIBC Asset Management Inc raised its stake in Light & Wonder by 2.5% during the 4th quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock worth $510,000 after acquiring an additional 146 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Light & Wonder by 194.3% during the fourth quarter. Blue Trust Inc. now owns 718 shares of the company’s stock valued at $65,000 after purchasing an additional 474 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LNW has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Macquarie increased their price target on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Stifel Nicolaus boosted their price objective on Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. Mizuho increased their target price on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. Finally, Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Light & Wonder has a consensus rating of “Moderate Buy” and an average target price of $110.91.

Light & Wonder Stock Performance

NASDAQ:LNW opened at $104.71 on Tuesday. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 0.35 and a beta of 1.59. Light & Wonder, Inc. has a 1 year low of $84.00 and a 1 year high of $115.00. The stock’s 50 day simple moving average is $95.63 and its two-hundred day simple moving average is $95.99. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61.

Insider Activity at Light & Wonder

In related news, CEO Siobhan Lane sold 3,784 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 21,254 shares in the company, valued at $2,239,533.98. This trade represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the transaction, the vice president now directly owns 77,331 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 9,867 shares of company stock valued at $1,037,884. 2.10% of the stock is owned by corporate insiders.

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.