Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 36.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 181,067 shares of the company’s stock after selling 102,892 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.21% of Light & Wonder worth $15,641,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in LNW. Barclays PLC boosted its holdings in Light & Wonder by 539.6% in the third quarter. Barclays PLC now owns 155,852 shares of the company’s stock valued at $14,142,000 after purchasing an additional 131,486 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Light & Wonder by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock valued at $733,584,000 after buying an additional 100,527 shares in the last quarter. Iridian Asset Management LLC CT grew its position in shares of Light & Wonder by 94.3% in the 4th quarter. Iridian Asset Management LLC CT now owns 100,192 shares of the company’s stock valued at $8,655,000 after buying an additional 48,621 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Light & Wonder by 393.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,554 shares of the company’s stock valued at $3,589,000 after buying an additional 33,136 shares during the last quarter. Finally, Ieq Capital LLC lifted its position in Light & Wonder by 590.3% in the fourth 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 last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Insider Activity at Light & Wonder

In other Light & Wonder news, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 5,016 shares in the company, valued at approximately $523,720.56. This represents a 18.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP James Sottile sold 2,356 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value of $248,652.24. Following the completion of the sale, the vice president now directly owns 77,331 shares of the company’s stock, valued at approximately $8,161,513.74. This trade 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 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Light & Wonder Stock Down 0.1 %

Shares of NASDAQ:LNW opened at $78.01 on Friday. Light & Wonder, Inc. has a fifty-two week low of $75.46 and a fifty-two week high of $115.00. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The firm’s 50-day simple moving average is $97.05 and its 200-day simple moving average is $93.71. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 0.35 and a beta of 1.38.

Analyst Ratings Changes

Several brokerages have issued reports on LNW. Jefferies Financial Group raised their price objective on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. Benchmark increased their price objective on Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 28th. Stifel Nicolaus lowered their target price on shares of Light & Wonder from $104.00 to $93.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. upped their price target 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $109.91.

Light & Wonder 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.