Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,589,760 shares of the company’s stock after selling 11,905 shares during the period. Geode Capital Management LLC owned about 1.80% of Light & Wonder worth $137,364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake 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 in the last quarter. State Street Corp grew its position 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 acquiring an additional 56,890 shares in the last quarter. Norges Bank bought a new stake in shares of Light & Wonder in the 4th quarter valued at approximately $91,683,000. Clearbridge Investments LLC raised its position in shares of Light & Wonder by 45.5% during the 4th quarter. Clearbridge Investments LLC now owns 288,052 shares of the company’s stock valued at $24,882,000 after acquiring an additional 90,117 shares in the last quarter. Finally, Barclays PLC lifted its stake in Light & Wonder by 539.6% during the third quarter. Barclays PLC now owns 155,852 shares of the company’s stock worth $14,142,000 after purchasing an additional 131,486 shares during the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Light & Wonder

In other Light & Wonder news, 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 value of $118,192.12. Following the completion of the sale, the chief accounting officer now directly owns 5,016 shares in the company, valued at $523,720.56. This represents a 18.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Oliver Chow sold 2,595 shares of Light & Wonder stock in a transaction on Friday, March 7th. The shares were sold at an average price of $104.94, for a total value of $272,319.30. Following the transaction, the chief financial officer now owns 3,695 shares in the company, valued at approximately $387,753.30. This trade represents a 41.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock worth $1,037,884 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Light & Wonder Price Performance

Shares of LNW opened at $78.98 on Tuesday. Light & Wonder, Inc. has a one year low of $75.46 and a one year high of $115.00. The stock’s fifty day moving average is $97.97 and its 200-day moving average is $94.53. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38.

Wall Street Analyst Weigh In

LNW has been the subject of several recent research reports. Benchmark boosted their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Jefferies Financial Group increased their price objective on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. lifted their target price on Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Macquarie increased their price target on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Mizuho raised their price target on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Light & Wonder currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.91.

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.