Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,959 shares of the company's stock after selling 3,956 shares during the quarter. Voya Investment Management LLC owned approximately 0.07% of Light & Wonder worth $5,525,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Light & Wonder during the 4th quarter valued at $91,683,000. Bank of Nova Scotia bought a new stake in Light & Wonder during the 4th quarter valued at approximately $16,020,000. Invesco Ltd. lifted its holdings in shares of Light & Wonder by 37.0% in the fourth quarter. Invesco Ltd. now owns 587,809 shares of the company's stock worth $50,775,000 after buying an additional 158,790 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Light & Wonder during the 4th quarter valued at about $12,033,000. Finally, Barclays PLC lifted its position in shares of Light & Wonder by 539.6% in the third 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. 88.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Citigroup upgraded Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. Benchmark boosted 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. JPMorgan Chase & Co. raised their price objective on Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Mizuho raised their price target on Light & Wonder from $76.00 to $80.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group raised their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $108.64.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, CEO Siobhan Lane sold 3,784 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total transaction of $398,720.08. Following the sale, the chief executive officer now owns 21,254 shares of the company's stock, valued at approximately $2,239,533.98. The trade was a 15.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Vanja Kalabic sold 1,132 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $104.41, for a total transaction of $118,192.12. Following the completion of the transaction, the chief accounting officer now directly owns 5,016 shares of the company's stock, valued at approximately $523,720.56. This represents a 18.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,867 shares of company stock worth $1,037,884 over the last three months. Corporate insiders own 2.10% of the company's stock.

Light & Wonder Stock Up 3.9 %

Shares of LNW stock traded up $3.47 during mid-day trading on Friday, hitting $91.68. 597,296 shares of the stock traded hands, compared to its average volume of 793,014. The stock's fifty day moving average is $92.71 and its two-hundred day moving average is $92.64. 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. The stock has a market cap of $7.74 billion, a P/E ratio of 28.47, a P/E/G ratio of 0.35 and a beta of 1.38.

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.