Light & Wonder, Inc. (NASDAQ:LNW) Stock Position Trimmed by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 100,942 shares of the company’s stock after selling 5,050 shares during the quarter. Corebridge Financial Inc.’s holdings in Light & Wonder were worth $8,719,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of LNW. Vanguard Group Inc. lifted its position in Light & Wonder by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock worth $733,584,000 after purchasing an additional 100,527 shares during the period. State Street Corp raised its holdings in shares of Light & Wonder by 2.2% in the 3rd quarter. State Street Corp now owns 2,651,627 shares of the company’s stock worth $240,582,000 after purchasing an additional 56,890 shares in the last quarter. FMR LLC lifted its position in shares of Light & Wonder by 28.7% during the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock valued at $131,745,000 after acquiring an additional 324,088 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Light & Wonder during the third quarter valued at $25,277,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Light & Wonder by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 206,851 shares of the company’s stock valued at $18,768,000 after buying an additional 2,972 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Jefferies Financial Group raised their target price on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. increased their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Benchmark raised their price objective on Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Mizuho boosted their target price on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. Finally, Macquarie upped their price target on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Light & Wonder currently has an average rating of “Moderate Buy” and a consensus price target of $110.91.

Light & Wonder Trading Down 5.8 %

Shares of LNW opened at $99.36 on Friday. The stock has a market cap of $8.39 billion, a PE ratio of 30.86, a PEG ratio of 0.35 and a beta of 1.59. The stock has a 50 day simple moving average of $98.50 and a 200-day simple moving average of $95.95. Light & Wonder, Inc. has a 1 year low of $84.00 and a 1 year high of $115.00. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49.

Insider Transactions at Light & Wonder

In related news, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following the completion of the transaction, the vice president now directly owns 77,331 shares of the company’s stock, valued at $8,161,513.74. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 transaction, the chief accounting officer now owns 5,016 shares in the company, valued at $523,720.56. The trade was a 18.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,867 shares of company stock valued at $1,037,884. 2.10% of the stock is owned by insiders.

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.