Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 12.7% in the fourth quarter, HoldingsChannel reports. The fund owned 1,431 shares of the company’s stock after selling 209 shares during the quarter. Sterling Capital Management LLC’s holdings in Light & Wonder were worth $124,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. R Squared Ltd acquired a new position in shares of Light & Wonder in the 4th quarter valued at about $35,000. Blue Trust Inc. raised its stake in shares of Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company’s stock valued at $65,000 after acquiring an additional 474 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Light & Wonder during the 3rd quarter valued at $222,000. Landscape Capital Management L.L.C. acquired a new stake in Light & Wonder in the 4th quarter valued at $224,000. Finally, LPL Financial LLC lifted its stake in shares of Light & Wonder by 12.2% during the fourth quarter. LPL Financial LLC now owns 2,677 shares of the company’s stock worth $231,000 after purchasing an additional 291 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Trading Down 2.6 %

Light & Wonder stock opened at $77.87 on Tuesday. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38. 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 firm’s 50 day moving average price is $95.56 and its two-hundred day moving average price is $93.25. Light & Wonder, Inc. has a 1 year low of $75.46 and a 1 year high of $115.00.

Insiders Place Their Bets

In related news, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,239,533.98. This represents a 15.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Vanja Kalabic sold 1,132 shares of Light & Wonder stock in a transaction dated 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 directly owns 5,016 shares in the company, valued at approximately $523,720.56. This trade represents a 18.41 % decrease in their position. 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. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on LNW shares. Mizuho boosted their price target on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. Benchmark lifted their price target on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Jefferies Financial Group upped their price objective on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Stifel Nicolaus reduced their price target on Light & Wonder from $104.00 to $93.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $109.91.

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.