ING Groep NV Cuts Position in Light & Wonder, Inc. (NASDAQ:LNW)

ING Groep NV trimmed its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 572,000 shares of the company’s stock after selling 18,000 shares during the period. ING Groep NV’s holdings in Light & Wonder were worth $49,409,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LNW. Allspring Global Investments Holdings LLC bought a new position in shares of Light & Wonder during the third quarter valued at about $108,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Light & Wonder during the third quarter valued at about $420,000. State of Alaska Department of Revenue raised its stake in shares of Light & Wonder by 5.5% during the third quarter. State of Alaska Department of Revenue now owns 10,305 shares of the company’s stock valued at $934,000 after acquiring an additional 535 shares during the last quarter. New York State Teachers Retirement System raised its stake in Light & Wonder by 0.9% in the third quarter. New York State Teachers Retirement System now owns 84,365 shares of the company’s stock worth $7,654,000 after buying an additional 719 shares in the last quarter. Finally, Iridian Asset Management LLC CT raised its stake in Light & Wonder by 12.1% in the third quarter. Iridian Asset Management LLC CT now owns 51,571 shares of the company’s stock worth $4,679,000 after buying an additional 5,570 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LNW. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday. Macquarie raised their target price on shares of Light & Wonder from $117.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday. Stifel Nicolaus raised their target price on shares of Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a research note on Wednesday. Finally, Jefferies Financial Group raised 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 investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Light & Wonder currently has an average rating of “Moderate Buy” and a consensus target price of $109.25.

Light & Wonder Trading Up 4.3 %

Shares of LNW stock opened at $105.99 on Thursday. 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 firm’s 50 day moving average is $89.24 and its 200 day moving average is $95.97. The stock has a market capitalization of $9.36 billion, a P/E ratio of 32.92, a P/E/G ratio of 0.34 and a beta of 1.72.

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.