State of Tennessee Department of Treasury Has $2.95 Million Stake in Light & Wonder, Inc. (NASDAQ:LNW)

State of Tennessee Department of Treasury lowered its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 34,177 shares of the company’s stock after selling 964 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Light & Wonder were worth $2,952,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of LNW. R Squared Ltd acquired a new position in shares of Light & Wonder during the 4th quarter valued at $35,000. Blue Trust Inc. increased its stake in Light & Wonder by 194.3% in the fourth quarter. Blue Trust Inc. now owns 718 shares of the company’s stock valued at $65,000 after purchasing an additional 474 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Light & Wonder during the third quarter valued at about $222,000. Landscape Capital Management L.L.C. bought a new position in shares of Light & Wonder during the 4th quarter worth about $224,000. Finally, Farringdon Capital Ltd. acquired a new stake in shares of Light & Wonder in the 4th quarter valued at about $230,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Vanja Kalabic sold 1,132 shares of the company’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 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 represents a 18.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP James Sottile sold 2,356 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value of $248,652.24. Following the transaction, the vice president now directly owns 77,331 shares of the company’s stock, 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 quarter, insiders have sold 9,867 shares of company stock valued at $1,037,884. Insiders own 2.10% of the company’s stock.

Light & Wonder Price Performance

Light & Wonder stock opened at $84.39 on Monday. Light & Wonder, Inc. has a 52 week low of $75.46 and a 52 week high of $115.00. The company’s 50 day moving average price is $94.31 and its two-hundred day moving average price is $92.90. The stock has a market cap of $7.13 billion, a P/E ratio of 26.21, 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.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LNW. Truist Financial dropped their price target on Light & Wonder from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Mizuho increased their target price on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price target 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. Stifel Nicolaus dropped their price objective on shares of Light & Wonder from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Finally, Benchmark boosted their target price 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. One 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $108.64.

About Light & Wonder

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.