Ashton Thomas Private Wealth LLC Lowers Position in Light & Wonder, Inc. (NASDAQ:LNW)

Ashton Thomas Private Wealth LLC cut its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,653 shares of the company’s stock after selling 1,438 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Light & Wonder were worth $747,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Inceptionr LLC purchased a new position in shares of Light & Wonder during the fourth quarter valued at approximately $261,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Light & Wonder during the fourth quarter valued at approximately $596,000. Ieq Capital LLC lifted its holdings in shares of Light & Wonder by 590.3% during the fourth quarter. Ieq Capital LLC now owns 20,343 shares of the company’s stock valued at $1,757,000 after purchasing an additional 17,396 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Light & Wonder by 0.5% during the fourth 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 during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Light & Wonder by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock valued at $510,000 after purchasing an additional 146 shares during the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Siobhan Lane sold 3,784 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 21,254 shares of the company’s stock, valued at $2,239,533.98. The trade was a 15.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP James Sottile sold 2,356 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total transaction of $248,652.24. Following the sale, the vice president now directly owns 77,331 shares of the company’s stock, valued at approximately $8,161,513.74. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,867 shares of company stock valued at $1,037,884. Company insiders own 2.10% of the company’s stock.

Light & Wonder Trading Up 1.0 %

NASDAQ:LNW opened at $105.10 on Monday. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a 12 month low of $84.00 and a 12 month high of $115.00. The company has a market cap of $8.88 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59. The company has a 50 day simple moving average of $93.60 and a two-hundred day simple moving average of $96.20.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LNW shares. Benchmark lifted their target price 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. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. Jefferies Financial Group raised their price target 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. Mizuho raised their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their price target 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.83.

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.