State of Michigan Retirement System Has $1.81 Million Position in Light & Wonder, Inc. (NASDAQ:LNW)

State of Michigan Retirement System decreased its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,899 shares of the company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Light & Wonder were worth $1,805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Light & Wonder in the third quarter valued at approximately $420,000. QRG Capital Management Inc. lifted its holdings in Light & Wonder by 6.0% during the 3rd quarter. QRG Capital Management Inc. now owns 10,646 shares of the company’s stock worth $966,000 after purchasing an additional 600 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Light & Wonder in the 3rd quarter valued at $29,000. XY Capital Ltd grew its holdings in Light & Wonder by 200.2% in the 3rd quarter. XY Capital Ltd now owns 35,170 shares of the company’s stock valued at $3,191,000 after buying an additional 23,456 shares in the last quarter. Finally, Axxcess Wealth Management LLC bought a new position in Light & Wonder during the 3rd quarter worth $899,000. 88.08% of the stock is owned by institutional investors.

Light & Wonder Stock Up 1.0 %

LNW stock opened at $105.10 on Friday. The firm has a 50-day moving average price of $93.60 and a 200-day moving average price of $96.29. Light & Wonder, Inc. has a 12 month low of $84.00 and a 12 month 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. The stock has a market capitalization of $8.88 billion, a P/E ratio of 32.64, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59.

Insider Activity at Light & Wonder

In related news, CAO Vanja Kalabic sold 1,132 shares of the business’s stock in a transaction 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 owns 5,016 shares in the company, valued at $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 available at this hyperlink. Also, CFO Oliver Chow sold 2,595 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $104.94, for a total value of $272,319.30. Following the completion of the transaction, the chief financial officer now owns 3,695 shares of the company’s stock, valued at $387,753.30. This represents a 41.26 % decrease in their ownership of the stock. 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 quarter. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LNW shares. Benchmark upped their price target on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Stifel Nicolaus increased their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Macquarie lifted their price objective on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, four 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

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.