Price T Rowe Associates Inc. MD Has $77.60 Million Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Price T Rowe Associates Inc. MD lessened its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 898,306 shares of the company's stock after selling 66,300 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.02% of Light & Wonder worth $77,597,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LNW. Vanguard Group Inc. increased its stake in Light & Wonder by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company's stock valued at $733,584,000 after buying an additional 100,527 shares during the last quarter. Norges Bank bought a new position in shares of Light & Wonder in the 4th quarter valued at about $91,683,000. Dimensional Fund Advisors LP increased its position in shares of Light & Wonder by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 725,637 shares of the company's stock valued at $62,677,000 after acquiring an additional 33,684 shares during the last quarter. Invesco Ltd. raised its holdings in Light & Wonder by 37.0% during the fourth quarter. Invesco Ltd. now owns 587,809 shares of the company's stock worth $50,775,000 after acquiring an additional 158,790 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in Light & Wonder by 17.8% during the fourth quarter. Bessemer Group Inc. now owns 372,809 shares of the company's stock valued at $32,203,000 after purchasing an additional 56,378 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Light & Wonder Stock Performance

Light & Wonder stock traded up $3.47 during midday trading on Friday, hitting $91.68. The company's stock had a trading volume of 597,296 shares, compared to its average volume of 793,014. 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 company has a market cap of $7.74 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 0.35 and a beta of 1.38. Light & Wonder, Inc. has a 1-year low of $75.46 and a 1-year high of $115.00. The company has a 50-day moving average price of $92.71 and a two-hundred day moving average price of $92.64.

Insider Activity

In other Light & Wonder news, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction dated 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 directly owns 21,254 shares in the company, valued at $2,239,533.98. This represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Vanja Kalabic sold 1,132 shares of the company'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 sale, the chief accounting officer now directly 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. Over the last ninety days, insiders sold 9,867 shares of company stock worth $1,037,884. Corporate insiders own 2.10% of the company's stock.

Analyst Ratings Changes

LNW has been the topic of several recent analyst reports. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. Benchmark upped their price target 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. Jefferies Financial Group lifted their price objective on shares of Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Stifel Nicolaus lowered their price objective on shares of Light & Wonder from $93.00 to $84.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Finally, Macquarie raised their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently 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.