Light & Wonder, Inc. (NASDAQ:LNW) Holdings Cut by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 54.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,600 shares of the company’s stock after selling 51,300 shares during the period. Renaissance Technologies LLC’s holdings in Light & Wonder were worth $3,680,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LNW. R Squared Ltd acquired a new stake in Light & Wonder during the fourth quarter valued at $35,000. Blue Trust Inc. grew 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 buying an additional 474 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Light & Wonder in the third quarter worth approximately $222,000. Landscape Capital Management L.L.C. bought a new position in Light & Wonder during the fourth quarter valued at approximately $224,000. Finally, LPL Financial LLC lifted its stake in Light & Wonder by 12.2% in the fourth quarter. LPL Financial LLC now owns 2,677 shares of the company’s stock valued at $231,000 after acquiring an additional 291 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Stock Performance

NASDAQ LNW opened at $80.36 on Wednesday. The company’s fifty day moving average is $95.21 and its two-hundred day moving average is $93.16. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 0.35 and a beta of 1.38. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. Light & Wonder, Inc. has a 52-week low of $75.46 and a 52-week high of $115.00.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LNW shares. Macquarie raised their price target on shares of Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Stifel Nicolaus reduced their price target on Light & Wonder from $93.00 to $84.00 and set a “hold” rating for the company in a research report on Tuesday. Jefferies Financial Group increased their price objective on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Mizuho boosted their target price on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. Finally, Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $109.09.

Insider Buying and Selling

In other Light & Wonder news, VP James Sottile sold 2,356 shares of Light & Wonder 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 sale, the vice president now owns 77,331 shares in the company, valued at $8,161,513.74. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Oliver Chow sold 2,595 shares of the 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 completion of the transaction, the chief financial officer now owns 3,695 shares of the company’s stock, valued at approximately $387,753.30. This represents a 41.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock valued at $1,037,884 over the last three months. 2.10% of the stock is owned by corporate insiders.

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.