Aristeia Capital L.L.C. Makes New Investment in Light & Wonder, Inc. (NASDAQ:LNW)

Aristeia Capital L.L.C. acquired a new stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,077 shares of the company's stock, valued at approximately $439,000.

Several other institutional investors have also modified their holdings of LNW. Inceptionr LLC purchased a new stake in shares of Light & Wonder in the fourth quarter worth approximately $261,000. Y Intercept Hong Kong Ltd purchased a new position in Light & Wonder in the 4th quarter worth about $596,000. AXQ Capital LP lifted its holdings in Light & Wonder by 94.6% during the 4th quarter. AXQ Capital LP now owns 7,198 shares of the company's stock valued at $622,000 after buying an additional 3,500 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Light & Wonder by 29.2% during the fourth quarter. Teacher Retirement System of Texas now owns 23,903 shares of the company's stock worth $2,065,000 after acquiring an additional 5,397 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Light & Wonder by 107.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 20,528 shares of the company's stock valued at $1,756,000 after acquiring an additional 10,647 shares in the last quarter. 88.08% of the stock is owned by institutional investors.

Light & Wonder Stock Performance

LNW traded up $1.72 during trading on Monday, reaching $93.40. 890,653 shares of the company's stock were exchanged, compared to its average volume of 793,404. The company's fifty day simple moving average is $92.41 and its 200-day simple moving average is $92.62. The stock has a market capitalization of $7.92 billion, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30. 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 1 year low of $75.46 and a 1 year high of $115.00.

Insider Buying and Selling at Light & Wonder

In other news, CFO Oliver Chow sold 2,595 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now owns 3,695 shares of the company's stock, valued at $387,753.30. This trade represents a 41.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Vanja Kalabic sold 1,132 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $104.41, for a total transaction of $118,192.12. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,867 shares of company stock valued at $1,037,884. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

LNW has been the subject of a number of research analyst reports. Benchmark lifted their target price on Light & Wonder from $114.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. raised their price target on Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Citigroup raised shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 19th. Stifel Nicolaus lowered their price target on shares of Light & Wonder from $93.00 to $84.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Finally, Macquarie lifted their price objective 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. 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $108.64.

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.