Mariner LLC Decreases Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Mariner LLC cut its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 23.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,786 shares of the company’s stock after selling 834 shares during the period. Mariner LLC’s holdings in Light & Wonder were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in Light & Wonder during the 4th quarter worth $91,683,000. Bank of Nova Scotia acquired a new position in Light & Wonder in the fourth quarter worth about $16,020,000. Invesco Ltd. increased its holdings in Light & Wonder by 37.0% in the fourth quarter. Invesco Ltd. now owns 587,809 shares of the company’s stock valued at $50,775,000 after buying an additional 158,790 shares during the last quarter. National Bank of Canada FI acquired a new stake in Light & Wonder during the fourth quarter valued at approximately $12,033,000. Finally, Barclays PLC lifted its holdings in Light & Wonder by 539.6% during the 3rd quarter. Barclays PLC now owns 155,852 shares of the company’s stock worth $14,142,000 after buying an additional 131,486 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Light & Wonder news, CFO Oliver Chow sold 2,595 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $104.94, for a total transaction of $272,319.30. Following the completion of the transaction, the chief financial officer now directly owns 3,695 shares of the company’s stock, valued at approximately $387,753.30. This trade represents a 41.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chief accounting officer now owns 5,016 shares in the company, valued at approximately $523,720.56. This trade represents a 18.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LNW shares. Macquarie boosted their price target on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Truist Financial lowered their target price on shares of Light & Wonder from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Mizuho raised their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. Stifel Nicolaus decreased their price target on shares of Light & Wonder from $93.00 to $84.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $108.64.

Light & Wonder Stock Performance

Shares of NASDAQ LNW opened at $93.87 on Wednesday. Light & Wonder, Inc. has a 12-month low of $75.46 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 company has a market cap of $7.96 billion, a PE ratio of 29.15, a P/E/G ratio of 0.35 and a beta of 1.30. The stock has a 50 day simple moving average of $92.07 and a 200-day simple moving average of $92.63.

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.