Arrowstreet Capital Limited Partnership Has $70.53 Million Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Arrowstreet Capital Limited Partnership cut its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 33.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 816,496 shares of the company’s stock after selling 419,114 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Light & Wonder were worth $70,529,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its position 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 buying an additional 108 shares during the last quarter. Xponance Inc. grew its stake in shares of Light & Wonder by 0.7% in the 4th quarter. Xponance Inc. now owns 17,769 shares of the company’s stock worth $1,535,000 after acquiring an additional 120 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Light & Wonder by 2.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock valued at $510,000 after purchasing an additional 146 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of 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 valued at $3,477,000 after purchasing an additional 200 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Light & Wonder by 1.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,559 shares of the company’s stock worth $1,775,000 after purchasing an additional 281 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.

Wall Street Analyst Weigh In

LNW has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Stifel Nicolaus lifted their target price on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th. Mizuho raised their price objective on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. Finally, Macquarie boosted their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.91.

Light & Wonder Trading Down 2.8 %

Shares of LNW stock opened at $86.61 on Tuesday. Light & Wonder, Inc. has a 1 year low of $84.00 and a 1 year high of $115.00. The company’s fifty day simple moving average is $98.41 and its two-hundred day simple moving average is $95.49. 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 stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 0.35 and a beta of 1.59.

Insider Activity at Light & Wonder

In other Light & Wonder news, CAO Vanja Kalabic sold 1,132 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $104.41, for a total value of $118,192.12. Following the completion of the transaction, the chief accounting officer now directly owns 5,016 shares of the company’s stock, valued at $523,720.56. This trade represents a 18.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Siobhan Lane sold 3,784 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.37, for a total transaction of $398,720.08. Following the completion of the transaction, the chief executive officer now directly owns 21,254 shares in the company, valued at approximately $2,239,533.98. The trade was a 15.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is owned by company insiders.

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.