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

Arrowstreet Capital Limited Partnership lowered its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 33.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and 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 owned approximately 0.92% of Light & Wonder worth $70,529,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Light & Wonder in the 4th quarter valued at approximately $91,683,000. FMR LLC grew its stake in shares of Light & Wonder by 28.7% during the third quarter. FMR LLC now owns 1,452,052 shares of the company’s stock worth $131,745,000 after buying an additional 324,088 shares during the last quarter. Barclays PLC lifted its stake in shares of Light & Wonder by 539.6% in the 3rd quarter. Barclays PLC now owns 155,852 shares of the company’s stock valued at $14,142,000 after acquiring an additional 131,486 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Light & Wonder by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock valued at $733,584,000 after acquiring an additional 100,527 shares in the last quarter. Finally, State Street Corp grew its position in Light & Wonder by 2.2% during the 3rd quarter. State Street Corp now owns 2,651,627 shares of the company’s stock worth $240,582,000 after acquiring an additional 56,890 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Light & Wonder Trading Down 2.8 %

Shares of LNW stock opened at $86.61 on Tuesday. Light & Wonder, Inc. has a fifty-two week low of $84.00 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The stock has a 50 day simple moving average of $98.41 and a two-hundred day simple moving average of $95.49. The company has a market cap of $7.32 billion, a P/E ratio of 26.90, a PEG ratio of 0.35 and a beta of 1.59.

Insider Activity

In related news, CEO Siobhan Lane sold 3,784 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.37, for a total value of $398,720.08. Following the completion of the sale, the chief executive officer now directly owns 21,254 shares of the company’s stock, valued at $2,239,533.98. The trade was a 15.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 owns 5,016 shares in the company, valued at approximately $523,720.56. The trade was a 18.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock worth $1,037,884 in the last quarter. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Mizuho lifted their price target on Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday, February 26th. Jefferies Financial Group lifted their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Macquarie upped their price target 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. Stifel Nicolaus lifted their price target on shares of Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Finally, Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Light & Wonder has an average rating of “Moderate Buy” and a consensus target price of $110.91.

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.