Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd lessened its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 14.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 749,354 shares of the company’s stock after selling 128,579 shares during the quarter. Ninety One UK Ltd owned about 0.85% of Light & Wonder worth $64,729,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Algert Global LLC increased its stake in shares of Light & Wonder by 118.5% in the 3rd quarter. Algert Global LLC now owns 61,606 shares of the company’s stock worth $5,590,000 after acquiring an additional 33,410 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of Light & Wonder in the third quarter valued at about $774,000. GSA Capital Partners LLP acquired a new stake in Light & Wonder during the third quarter worth about $725,000. State Street Corp increased its position in Light & Wonder by 2.2% during the third 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 during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Light & Wonder by 108.6% during the third quarter. BNP Paribas Financial Markets now owns 12,434 shares of the company’s stock worth $1,128,000 after purchasing an additional 6,472 shares during the period. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group raised their target price on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. B. Riley assumed coverage on Light & Wonder in a research report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Benchmark reiterated a “buy” rating and set a $114.00 price target on shares of Light & Wonder in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.50.

Light & Wonder Price Performance

Shares of LNW opened at $86.65 on Wednesday. The company has a market cap of $7.65 billion, a P/E ratio of 26.91, a PEG ratio of 0.30 and a beta of 1.72. Light & Wonder, Inc. has a fifty-two week low of $79.22 and a fifty-two week 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 firm’s 50 day moving average price is $89.49 and its 200 day moving average price is $96.61.

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.