Park West Asset Management LLC Makes New Investment in Light & Wonder, Inc. (NASDAQ:LNW)

Park West Asset Management LLC purchased a new stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 535,315 shares of the company's stock, valued at approximately $46,241,000. Light & Wonder accounts for 3.7% of Park West Asset Management LLC's investment portfolio, making the stock its 10th biggest holding. Park West Asset Management LLC owned about 0.61% of Light & Wonder as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in Light & Wonder by 2.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company's stock worth $387,000 after purchasing an additional 108 shares during the period. Xponance Inc. raised its position in Light & Wonder by 0.7% in the fourth quarter. Xponance Inc. now owns 17,769 shares of the company's stock worth $1,535,000 after acquiring an additional 120 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Light & Wonder by 2.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,901 shares of the company's stock valued at $510,000 after acquiring an additional 146 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Light & Wonder by 0.5% during the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company's stock valued at $3,477,000 after purchasing an additional 200 shares in the last quarter. Finally, LPL Financial LLC grew its stake in shares of Light & Wonder by 12.2% in the 4th quarter. LPL Financial LLC now owns 2,677 shares of the company's stock worth $231,000 after purchasing an additional 291 shares during the last quarter. Institutional investors own 88.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LNW. JPMorgan Chase & Co. raised their target price 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. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. Jefferies Financial Group lifted their price target on Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Truist Financial cut their price objective on Light & Wonder from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Benchmark lifted their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $108.64.

Insiders Place Their Bets

In other Light & Wonder news, CAO Vanja Kalabic sold 1,132 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $104.41, for a total transaction of $118,192.12. Following the transaction, the chief accounting officer now directly owns 5,016 shares in the company, valued at $523,720.56. This trade represents a 18.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $398,720.08. Following the completion of the sale, the chief executive officer now directly owns 21,254 shares of the company's stock, valued at $2,239,533.98. This represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock valued at $1,037,884 in the last three months. Insiders own 2.10% of the company's stock.

Light & Wonder Stock Up 3.9 %

Shares of NASDAQ:LNW traded up $3.47 during midday trading on Friday, hitting $91.68. 597,296 shares of the stock were exchanged, compared to its average volume of 791,563. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. Light & Wonder, Inc. has a 52-week low of $75.46 and a 52-week high of $115.00. The business's fifty day simple moving average is $92.91 and its two-hundred day simple moving average is $92.67. The company has a market capitalization of $7.74 billion, a PE ratio of 28.47, a P/E/G ratio of 0.35 and a beta of 1.38.

About Light & Wonder

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.