Fmr LLC Has $123.45 Million Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Fmr LLC reduced its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,429,172 shares of the company’s stock after selling 22,880 shares during the quarter. Fmr LLC owned about 1.62% of Light & Wonder worth $123,452,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Light & Wonder by 2.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock valued at $387,000 after purchasing an additional 108 shares during the period. Xponance Inc. lifted its stake in shares of Light & Wonder by 0.7% in the fourth quarter. Xponance Inc. now owns 17,769 shares of the company’s stock valued at $1,535,000 after buying an additional 120 shares during the period. CIBC Asset Management Inc grew its position in Light & Wonder by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock worth $510,000 after buying an additional 146 shares in the last quarter. New York State Common Retirement Fund grew its position in 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 worth $3,477,000 after buying an additional 200 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Light & Wonder by 12.2% during the fourth quarter. LPL Financial LLC now owns 2,677 shares of the company’s stock valued at $231,000 after acquiring an additional 291 shares during the period. 88.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Mizuho lifted their price objective on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. 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. Benchmark boosted their price target 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. Macquarie lifted their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Light & Wonder presently has a consensus rating of “Moderate Buy” and an average price target of $109.91.

Insider Activity at Light & Wonder

In other news, VP James Sottile sold 2,356 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 77,331 shares in the company, valued at approximately $8,161,513.74. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Vanja Kalabic sold 1,132 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $104.41, for a total transaction of $118,192.12. Following the completion of the sale, the chief accounting officer now directly owns 5,016 shares of the company’s stock, valued at approximately $523,720.56. This represents a 18.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock valued at $1,037,884 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Light & Wonder Stock Performance

NASDAQ:LNW opened at $78.73 on Tuesday. The stock has a market capitalization of $6.65 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38. 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 1 year low of $75.46 and a 1 year high of $115.00. The firm has a 50 day moving average of $96.89 and a 200-day moving average of $93.62.

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.