Connor Clark & Lunn Investment Management Ltd. Boosts Stock Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 393.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,554 shares of the company’s stock after purchasing an additional 33,136 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Light & Wonder were worth $3,589,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of Light & Wonder in the 3rd quarter valued at approximately $28,000. R Squared Ltd purchased a new position in Light & Wonder in the fourth quarter valued at $35,000. Quarry LP acquired a new stake in Light & Wonder in the third quarter valued at $51,000. Blue Trust Inc. lifted its holdings in Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company’s stock worth $65,000 after buying an additional 474 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Light & Wonder during the 3rd quarter worth about $104,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Up 1.0 %

LNW opened at $104.71 on Tuesday. Light & Wonder, Inc. has a 52 week low of $84.00 and a 52 week high of $115.00. The business has a 50 day moving average price of $95.63 and a two-hundred day moving average price of $95.99. 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 company has a market cap of $8.84 billion, a PE ratio of 32.52, a P/E/G ratio of 0.35 and a beta of 1.59.

Insider Activity

In other news, CAO Vanja Kalabic sold 1,132 shares of Light & Wonder stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $104.41, for a total value of $118,192.12. Following the sale, the chief accounting officer now owns 5,016 shares of the company’s stock, valued at $523,720.56. The trade was a 18.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James Sottile sold 2,356 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the transaction, the vice president now owns 77,331 shares in the company, valued at approximately $8,161,513.74. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,867 shares of company stock valued at $1,037,884. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LNW has been the subject of several recent analyst reports. Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Benchmark boosted their price objective on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Jefferies Financial Group increased their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. upped their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus raised their price objective on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Light & Wonder presently has an average rating of “Moderate Buy” and an average price target of $110.91.

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.