Pinebridge Investments L.P. Increases Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Pinebridge Investments L.P. grew its stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 44.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,815 shares of the company's stock after buying an additional 8,231 shares during the quarter. Pinebridge Investments L.P.'s holdings in Light & Wonder were worth $2,316,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in shares of Light & Wonder by 8.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,368 shares of the company's stock valued at $636,000 after buying an additional 563 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Light & Wonder by 7.4% during the fourth quarter. MetLife Investment Management LLC now owns 53,687 shares of the company's stock worth $4,637,000 after purchasing an additional 3,696 shares in the last quarter. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 33,684 shares in the last quarter. Commerce Bank lifted its holdings in Light & Wonder by 9.9% in the 4th quarter. Commerce Bank now owns 33,405 shares of the company's stock worth $2,886,000 after purchasing an additional 3,009 shares in the last quarter. Finally, Farringdon Capital Ltd. purchased a new position in Light & Wonder in the 4th quarter worth approximately $230,000. Institutional investors own 88.08% of the company's stock.

Analysts Set New Price Targets

LNW has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted 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. Benchmark boosted their price target on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Macquarie raised their price objective on Light & Wonder from $122.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Mizuho boosted their target price 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, Citigroup upgraded Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. One 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 given a strong buy rating to the company. According to MarketBeat.com, Light & Wonder currently has an average rating of "Moderate Buy" and an average target price of $108.64.

Light & Wonder Trading Up 0.4 %

NASDAQ:LNW traded up $0.30 during midday trading on Wednesday, hitting $85.38. The stock had a trading volume of 1,026,711 shares, compared to its average volume of 789,413. The stock has a 50-day moving average of $93.49 and a 200 day moving average of $92.77. Light & Wonder, Inc. has a one year low of $75.46 and a one year high of $115.00. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 0.35 and a beta of 1.38. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Insiders Place Their Bets

In related news, CFO Oliver Chow sold 2,595 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $104.94, for a total transaction of $272,319.30. Following the transaction, the chief financial officer now directly owns 3,695 shares of the company's stock, valued at $387,753.30. This represents a 41.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP James Sottile sold 2,356 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value of $248,652.24. Following the completion of the sale, the vice president now owns 77,331 shares of the company's stock, valued at approximately $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. Insiders sold a total of 9,867 shares of company stock worth $1,037,884 over the last 90 days. Company insiders own 2.10% of the company's stock.

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.