AdvisorShares Investments LLC Cuts Stock Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

AdvisorShares Investments LLC lessened its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 48.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,577 shares of the company’s stock after selling 1,500 shares during the quarter. AdvisorShares Investments LLC’s holdings in Light & Wonder were worth $136,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LNW. R Squared Ltd acquired a new stake in shares of Light & Wonder in the fourth quarter valued at about $35,000. Blue Trust Inc. boosted its holdings in Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company’s stock worth $65,000 after buying an additional 474 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Light & Wonder during the 4th quarter worth approximately $224,000. Farringdon Capital Ltd. acquired a new position in shares of Light & Wonder during the fourth quarter valued at approximately $230,000. Finally, LPL Financial LLC lifted its position in shares of Light & Wonder by 12.2% in 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 in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Price Performance

LNW stock opened at $85.08 on Wednesday. Light & Wonder, Inc. has a 1 year low of $75.46 and a 1 year high of $115.00. The firm has a market capitalization of $7.19 billion, a P/E ratio of 26.42, a P/E/G ratio of 0.35 and a beta of 1.38. 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 business’s 50-day moving average is $93.49 and its two-hundred day moving average is $92.77.

Insider Buying and Selling

In other Light & Wonder news, CFO Oliver Chow sold 2,595 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $104.94, for a total transaction of $272,319.30. Following the sale, the chief financial officer now owns 3,695 shares of the company’s stock, valued at approximately $387,753.30. This trade represents a 41.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 5,016 shares in the company, valued at $523,720.56. This trade represents a 18.41 % 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 over the last 90 days. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Macquarie boosted 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. Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. Benchmark boosted 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. Truist Financial cut their price objective on shares of Light & Wonder from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, Mizuho boosted their target price 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 assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $108.64.

About Light & Wonder

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.