Emerald Advisers LLC Lowers Position in Light & Wonder, Inc. (NASDAQ:LNW)

Emerald Advisers LLC decreased its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 91.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,716 shares of the company’s stock after selling 85,128 shares during the period. Emerald Advisers LLC’s holdings in Light & Wonder were worth $667,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LNW. Vanguard Group Inc. increased its stake in Light & Wonder by 1.2% in the fourth 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 during the last quarter. State Street Corp boosted its holdings in shares of Light & Wonder by 2.2% in the 3rd quarter. State Street Corp now owns 2,651,627 shares of the company’s stock worth $240,582,000 after purchasing an additional 56,890 shares in the last quarter. FMR LLC increased its position in shares of Light & Wonder by 28.7% during the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock valued at $131,745,000 after purchasing an additional 324,088 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Light & Wonder during the 3rd quarter valued at about $25,277,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Light & Wonder by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 206,851 shares of the company’s stock worth $18,768,000 after buying an additional 2,972 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors.

Insider Activity at Light & Wonder

In other news, CAO Vanja Kalabic sold 1,132 shares of the company’s 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 sale, the chief accounting officer now directly owns 5,016 shares of the company’s stock, valued at $523,720.56. This represents a 18.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James Sottile sold 2,356 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total transaction of $248,652.24. Following the completion of the transaction, the vice president now directly owns 77,331 shares of the company’s stock, valued at approximately $8,161,513.74. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,867 shares of company stock valued at $1,037,884. Insiders own 2.10% of the company’s stock.

Light & Wonder Trading Down 0.6 %

Shares of Light & Wonder stock opened at $103.67 on Monday. Light & Wonder, Inc. has a twelve month low of $84.00 and a twelve month high of $115.00. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The business has a 50-day moving average price of $97.11 and a 200-day moving average price of $95.84. The firm 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.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LNW shares. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Jefferies Financial Group lifted their price objective on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Macquarie increased their target price on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus increased their price objective on Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Light & Wonder presently has a consensus rating of “Moderate Buy” and an average price target of $110.91.

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.