Light & Wonder, Inc. (NASDAQ:LNW) Position Cut by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,675 shares of the company’s stock after selling 224 shares during the quarter. Securian Asset Management Inc.’s holdings in Light & Wonder were worth $577,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in LNW. True Wealth Design LLC acquired a new position in shares of Light & Wonder during the third quarter valued at $28,000. R Squared Ltd acquired a new position in shares of Light & Wonder during the fourth quarter valued at $35,000. Quarry LP acquired a new position in shares of Light & Wonder during the third quarter valued at $51,000. Blue Trust Inc. increased its holdings in shares of Light & Wonder by 194.3% during the fourth quarter. Blue Trust Inc. now owns 718 shares of the company’s stock valued at $65,000 after purchasing an additional 474 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in shares of Light & Wonder during the third quarter valued at $104,000. 88.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Benchmark lifted their target price on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Mizuho lifted 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. Finally, Jefferies Financial Group lifted their target price on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.91.

Light & Wonder Trading Up 2.1 %

NASDAQ:LNW opened at $103.67 on Monday. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a 1-year low of $84.00 and a 1-year high of $115.00. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59. The stock has a fifty day simple moving average of $95.26 and a 200 day simple moving average of $96.01.

Insider Buying and Selling at Light & Wonder

In related news, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 5,016 shares in the company, valued at approximately $523,720.56. This trade represents a 18.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value 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. Insiders have sold a total of 9,867 shares of company stock valued at $1,037,884 in the last 90 days. 2.10% of the stock is currently owned by corporate 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.