New Age Alpha Advisors LLC Takes $1.62 Million Position in Light & Wonder, Inc. (NASDAQ:LNW)

New Age Alpha Advisors LLC acquired a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,768 shares of the company’s stock, valued at approximately $1,621,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Light & Wonder by 2.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock worth $387,000 after buying an additional 108 shares during the period. Xponance Inc. lifted its stake in Light & Wonder by 0.7% in the fourth quarter. Xponance Inc. now owns 17,769 shares of the company’s stock valued at $1,535,000 after buying an additional 120 shares during the period. CIBC Asset Management Inc boosted its holdings in Light & Wonder by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock worth $510,000 after buying an additional 146 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Light & Wonder by 0.5% during the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company’s stock worth $3,477,000 after acquiring an additional 200 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Light & Wonder by 1.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,559 shares of the company’s stock valued at $1,775,000 after purchasing an additional 281 shares during the period. 88.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LNW has been the subject of several recent analyst reports. Benchmark increased their price target on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Macquarie increased their price objective on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Mizuho boosted their price objective on shares of Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, February 26th. One research 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 company’s stock. According to MarketBeat, Light & Wonder has a consensus rating of “Moderate Buy” and an average target price of $110.91.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, CFO Oliver Chow sold 2,595 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Siobhan Lane sold 3,784 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were 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 of the company’s stock, valued at $2,239,533.98. This represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,867 shares of company stock valued at $1,037,884. 2.10% of the stock is currently owned by corporate insiders.

Light & Wonder Trading Down 10.3 %

LNW opened at $89.09 on Monday. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 0.35 and a beta of 1.59. 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 twelve month low of $84.00 and a twelve month high of $115.00. The company has a 50-day simple moving average of $98.48 and a 200 day simple moving average of $95.66.

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.