Corton Capital Inc. Invests $245,000 in Light & Wonder, Inc. (NASDAQ:LNW)

Corton Capital Inc. purchased a new stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,833 shares of the company's stock, valued at approximately $245,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew 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 worth $733,584,000 after purchasing an additional 100,527 shares during the last quarter. Norges Bank acquired a new position in Light & Wonder in the fourth quarter valued at about $91,683,000. Northern Trust Corp grew its stake in Light & Wonder by 12.9% during the fourth quarter. Northern Trust Corp now owns 727,235 shares of the company's stock worth $62,819,000 after buying an additional 83,150 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Light & Wonder by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 725,637 shares of the company's stock worth $62,677,000 after buying an additional 33,684 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Light & Wonder by 12.0% in the fourth quarter. AQR Capital Management LLC now owns 624,935 shares of the company's stock valued at $53,982,000 after acquiring an additional 67,147 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Stock Performance

LNW stock opened at $93.63 on Thursday. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve month 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 company has a market cap of $7.94 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30. The business's fifty day moving average is $91.71 and its 200-day moving average is $92.64.

Insider Activity at Light & Wonder

In other news, CEO Siobhan Lane sold 3,784 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.37, for a total transaction of $398,720.08. Following the completion of the transaction, the chief executive officer now directly owns 21,254 shares in the company, valued at approximately $2,239,533.98. The trade was a 15.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James Sottile sold 2,356 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 77,331 shares in the company, valued at $8,161,513.74. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup upgraded Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. Benchmark increased their target price on Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Mizuho lifted their price target on Light & Wonder from $76.00 to $80.00 and gave the company an "underperform" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Macquarie boosted their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $108.64.

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.

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