Algert Global LLC Lowers Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Algert Global LLC lessened its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 42.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,754 shares of the company's stock after selling 25,852 shares during the period. Algert Global LLC's holdings in Light & Wonder were worth $3,088,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of 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 buying an additional 131,486 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Light & Wonder by 18.0% in the 3rd 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. Exchange Traded Concepts LLC boosted its stake in shares of Light & Wonder by 2.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 21,858 shares of the company's stock valued at $1,888,000 after purchasing an additional 458 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of 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. Finally, KBC Group NV increased its holdings in Light & Wonder by 57.3% during the fourth quarter. KBC Group NV now owns 3,609 shares of the company's stock valued at $312,000 after buying an additional 1,315 shares during the period. Institutional investors own 88.08% of the company's stock.

Light & Wonder Price Performance

Shares of NASDAQ:LNW opened at $93.63 on Thursday. 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 twelve month low of $75.46 and a twelve month high of $115.00. The company's 50 day moving average is $91.71 and its 200 day moving average is $92.64. The company has a market cap of $7.94 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30.

Analyst Ratings Changes

Several analysts have issued reports on the company. Stifel Nicolaus dropped their target price on Light & Wonder from $93.00 to $84.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Macquarie lifted 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. Jefferies Financial Group raised their price target on shares of Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Truist Financial cut their price objective on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Light & Wonder presently has an average rating of "Moderate Buy" and a consensus price target of $108.64.

Insider Transactions at Light & Wonder

In other news, CFO Oliver Chow sold 2,595 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $104.94, for a total transaction of $272,319.30. Following the sale, the chief financial officer now directly owns 3,695 shares in the company, valued at $387,753.30. This trade represents a 41.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Siobhan Lane sold 3,784 shares of the company's 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 transaction, the chief executive officer now directly owns 21,254 shares of the company's stock, valued at $2,239,533.98. The trade was a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,867 shares of company stock worth $1,037,884 over the last 90 days. 2.10% of the stock is currently owned by company 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.

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