Wells Fargo & Company MN Has $807,000 Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Wells Fargo & Company MN trimmed its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 63.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,340 shares of the company's stock after selling 16,440 shares during the quarter. Wells Fargo & Company MN's holdings in Light & Wonder were worth $807,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Inceptionr LLC bought a new position in shares of Light & Wonder in the fourth quarter worth about $261,000. Y Intercept Hong Kong Ltd acquired a new stake in Light & Wonder in the fourth quarter worth $596,000. AXQ Capital LP raised its stake in Light & Wonder by 94.6% during the 4th quarter. AXQ Capital LP now owns 7,198 shares of the company's stock worth $622,000 after buying an additional 3,500 shares during the period. Teacher Retirement System of Texas increased its stake in Light & Wonder by 29.2% during the 4th quarter. Teacher Retirement System of Texas now owns 23,903 shares of the company's stock valued at $2,065,000 after purchasing an additional 5,397 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in Light & Wonder by 107.8% in the 4th 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. Institutional investors and hedge funds own 88.08% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on LNW. Truist Financial dropped their target price 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. JPMorgan Chase & Co. raised their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Macquarie upped their price target 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. Mizuho increased their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an "underperform" rating in a research note on Wednesday, February 26th. Finally, Benchmark raised their price target on shares of Light & Wonder from $114.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Light & Wonder presently has an average rating of "Moderate Buy" and an average target price of $108.64.

Insider Activity

In other Light & Wonder news, CAO Vanja Kalabic sold 1,132 shares of the firm's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 5,016 shares in the company, valued at $523,720.56. This trade represents a 18.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James Sottile sold 2,356 shares of the firm's stock in a transaction on 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 owns 77,331 shares in the company, valued at $8,161,513.74. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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 Up 3.9 %

Shares of NASDAQ:LNW traded up $3.47 during trading on Friday, hitting $91.68. 597,296 shares of the company were exchanged, compared to its average volume of 791,563. The firm's 50 day moving average price is $92.71 and its 200-day moving average price is $92.66. The stock has a market capitalization of $7.74 billion, a P/E ratio of 28.47, a PEG ratio of 0.35 and a beta of 1.38. 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 12-month low of $75.46 and a 12-month high of $115.00.

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.