Clearbridge Investments LLC Has $24.88 Million Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Clearbridge Investments LLC increased its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 45.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 288,052 shares of the company’s stock after buying an additional 90,117 shares during the period. Clearbridge Investments LLC owned 0.33% of Light & Wonder worth $24,882,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC bought a new position in shares of Light & Wonder in the 3rd quarter worth about $28,000. R Squared Ltd acquired a new stake in Light & Wonder during the fourth quarter worth approximately $35,000. Quarry LP bought a new stake in Light & Wonder in the third quarter worth approximately $51,000. Blue Trust Inc. lifted its stake in Light & Wonder by 194.3% in the fourth quarter. Blue Trust Inc. now owns 718 shares of the company’s stock valued at $65,000 after buying an additional 474 shares during the period. Finally, Neo Ivy Capital Management bought a new position in shares of Light & Wonder during the 3rd quarter worth approximately $104,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Stock Up 1.5 %

LNW stock opened at $87.87 on Wednesday. The stock’s 50 day moving average is $98.34 and its 200-day moving average is $95.32. Light & Wonder, Inc. has a twelve month low of $84.00 and a twelve month high of $115.00. The firm has a market capitalization of $7.42 billion, a PE ratio of 27.29, a P/E/G ratio of 0.35 and a beta of 1.59. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Analysts Set New Price Targets

LNW has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Benchmark upped their price objective on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 28th. Stifel Nicolaus increased their price objective on shares of Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. Macquarie boosted their target price on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Mizuho increased their price target on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $110.91.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction dated Thursday, March 6th. The shares were 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 owns 21,254 shares in the company, valued at approximately $2,239,533.98. This trade represents a 15.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Vanja Kalabic sold 1,132 shares of Light & Wonder stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 5,016 shares in the company, valued at approximately $523,720.56. This represents a 18.41 % 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. Corporate insiders own 2.10% of the company’s stock.

Light & Wonder 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.