Light & Wonder, Inc. (NASDAQ:LNW) Position Decreased by Voya Investment Management LLC

Voya Investment Management LLC cut its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 5.8% in the 4th quarter, Holdings Channel reports. The firm owned 63,959 shares of the company’s stock after selling 3,956 shares during the period. Voya Investment Management LLC’s holdings in Light & Wonder were worth $5,525,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LNW. Norges Bank purchased a new stake in shares of Light & Wonder in the fourth quarter valued at $91,683,000. Bank of Nova Scotia bought a new stake in Light & Wonder in the fourth quarter worth $16,020,000. Invesco Ltd. increased its holdings in shares of Light & Wonder by 37.0% during the 4th quarter. Invesco Ltd. now owns 587,809 shares of the company’s stock valued at $50,775,000 after acquiring an additional 158,790 shares during the last quarter. National Bank of Canada FI acquired a new stake in Light & Wonder in the 4th quarter worth approximately $12,033,000. Finally, Barclays PLC lifted its stake in shares of Light & Wonder by 539.6% in the third 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 currently owned by institutional investors.

Insider Activity at Light & Wonder

In related news, CEO Siobhan Lane sold 3,784 shares of the business’s 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Vanja Kalabic sold 1,132 shares of the firm’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 owns 5,016 shares in the company, valued at $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. Insiders have sold 9,867 shares of company stock worth $1,037,884 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LNW shares. Mizuho lifted their price objective on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 26th. Stifel Nicolaus reduced their price objective on Light & Wonder from $93.00 to $84.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Benchmark increased their price objective 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. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, 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 note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.64.

Light & Wonder Price Performance

Light & Wonder stock opened at $85.38 on Thursday. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 0.35 and a beta of 1.38. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a 12-month low of $75.46 and a 12-month high of $115.00. The business’s 50-day simple moving average is $93.16 and its 200 day simple moving average is $92.72.

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.