Light & Wonder, Inc. (NASDAQ:LNW) Position Lifted by AXQ Capital LP

AXQ Capital LP grew its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 94.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,198 shares of the company’s stock after purchasing an additional 3,500 shares during the period. AXQ Capital LP’s holdings in Light & Wonder were worth $622,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Quest Partners LLC acquired a new stake in Light & Wonder during the third quarter valued at approximately $337,000. Commerce Bank increased its holdings in shares of Light & Wonder by 10.5% in the 3rd quarter. Commerce Bank now owns 30,396 shares of the company’s stock valued at $2,758,000 after acquiring an additional 2,887 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Light & Wonder during the 3rd quarter valued at approximately $764,000. Cerity Partners LLC lifted its stake in Light & Wonder by 222.1% during the third quarter. Cerity Partners LLC now owns 13,042 shares of the company’s stock worth $1,183,000 after purchasing an additional 8,993 shares during the last quarter. Finally, Algert Global LLC boosted its holdings in Light & Wonder by 118.5% in the third quarter. Algert Global LLC now owns 61,606 shares of the company’s stock worth $5,590,000 after purchasing an additional 33,410 shares during the period. Institutional investors own 88.08% of the company’s stock.

Insider Activity at Light & Wonder

In other Light & Wonder news, VP James Sottile sold 2,356 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $8,161,513.74. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Oliver Chow sold 2,595 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $104.94, for a total transaction of $272,319.30. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 9,867 shares of company stock worth $1,037,884 over the last quarter. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on LNW. Macquarie raised their price target on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Mizuho raised their target price 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. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Benchmark boosted their price objective on Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Stifel Nicolaus upped their price objective on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $110.91.

Light & Wonder Stock Down 0.6 %

Light & Wonder stock opened at $103.67 on Friday. The company’s 50-day moving average price is $97.11 and its two-hundred day moving average price is $95.93. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 0.35 and a beta of 1.59. Light & Wonder, Inc. has a 52 week low of $84.00 and a 52 week high of $115.00. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49.

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.