First Trust Advisors LP Sells 228,615 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

First Trust Advisors LP trimmed its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 94.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,271 shares of the company's stock after selling 228,615 shares during the quarter. First Trust Advisors LP's holdings in Light & Wonder were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. R Squared Ltd bought a new position in Light & Wonder during the fourth quarter worth $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 during the period. Landscape Capital Management L.L.C. bought a new stake in Light & Wonder in the 4th quarter valued at about $224,000. Farringdon Capital Ltd. bought a new position in Light & Wonder in the fourth quarter worth approximately $230,000. Finally, LPL Financial LLC grew 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 period. 88.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Light & Wonder news, VP James Sottile sold 2,356 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following the transaction, the vice president now directly owns 77,331 shares in the company, valued at $8,161,513.74. This represents a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 sale, the chief accounting officer now owns 5,016 shares of the company's stock, 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 ninety days, insiders sold 9,867 shares of company stock valued at $1,037,884. Company insiders own 2.10% of the company's stock.

Light & Wonder Stock Performance

Shares of LNW opened at $93.63 on Thursday. The firm has a market cap of $7.94 billion, a PE ratio of 29.08, a PEG 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. The stock's fifty day moving average price is $91.71 and its two-hundred day moving average price is $92.64. Light & Wonder, Inc. has a 1 year low of $75.46 and a 1 year high of $115.00.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Stifel Nicolaus cut their target price on Light & Wonder from $93.00 to $84.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Mizuho boosted their target price on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted 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. Benchmark increased their price objective on Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group increased their price target on Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Light & Wonder currently has a consensus rating of "Moderate Buy" and a consensus target price 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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