Park West Asset Management LLC Purchases Shares of 535,315 Light & Wonder, Inc. (NASDAQ:LNW)

Park West Asset Management LLC acquired a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 535,315 shares of the company’s stock, valued at approximately $46,241,000. Light & Wonder comprises 3.7% of Park West Asset Management LLC’s portfolio, making the stock its 10th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in LNW. AQR Capital Management LLC raised its stake in Light & Wonder by 12.0% in the 4th quarter. AQR Capital Management LLC now owns 624,935 shares of the company’s stock worth $53,982,000 after purchasing an additional 67,147 shares in the last quarter. Northern Trust Corp raised its position in shares of Light & Wonder by 12.9% in the fourth quarter. Northern Trust Corp now owns 727,235 shares of the company’s stock valued at $62,819,000 after buying an additional 83,150 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of Light & Wonder in the fourth quarter valued at approximately $342,000. Pinebridge Investments L.P. grew its position in Light & Wonder by 44.3% during the fourth quarter. Pinebridge Investments L.P. now owns 26,815 shares of the company’s stock worth $2,316,000 after buying an additional 8,231 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Light & Wonder by 8.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,368 shares of the company’s stock worth $636,000 after acquiring an additional 563 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Trading Up 0.4 %

Shares of NASDAQ:LNW opened at $84.70 on Tuesday. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. Light & Wonder, Inc. has a 1 year low of $75.46 and a 1 year high of $115.00. The company has a market cap of $7.15 billion, a P/E ratio of 26.30, a PEG ratio of 0.35 and a beta of 1.38. The stock’s fifty day moving average price is $93.88 and its 200-day moving average price is $92.82.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Stifel Nicolaus cut their target price on Light & Wonder from $93.00 to $84.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Mizuho upped their price objective on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their target price on Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Light & Wonder has a consensus rating of “Moderate Buy” and an average target price of $108.64.

Insider Activity

In other Light & Wonder news, CAO Vanja Kalabic sold 1,132 shares of Light & Wonder 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 sale, the chief accounting officer now directly owns 5,016 shares in the company, valued at approximately $523,720.56. The trade was a 18.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Siobhan Lane sold 3,784 shares of Light & Wonder stock in a transaction that occurred on 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 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. Insiders sold a total of 9,867 shares of company stock valued at $1,037,884 in the last 90 days. Company insiders own 2.10% of the company’s stock.

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.