Ashton Thomas Private Wealth LLC Reduces Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Ashton Thomas Private Wealth LLC lowered its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,653 shares of the company’s stock after selling 1,438 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Light & Wonder were worth $747,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Light & Wonder during the fourth quarter worth $596,000. Algert Global LLC raised its position in shares of Light & Wonder by 118.5% in the third quarter. Algert Global LLC now owns 61,606 shares of the company’s stock worth $5,590,000 after buying an additional 33,410 shares in the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of Light & Wonder in the third quarter worth $774,000. GSA Capital Partners LLP purchased a new stake in shares of Light & Wonder in the third quarter worth $725,000. Finally, State Street Corp raised its position in shares of Light & Wonder by 2.2% in the third quarter. State Street Corp now owns 2,651,627 shares of the company’s stock worth $240,582,000 after buying an additional 56,890 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Up 1.0 %

Shares of NASDAQ:LNW opened at $105.10 on Monday. The stock’s 50-day moving average price is $93.60 and its 200-day moving average price is $96.20. Light & Wonder, Inc. has a 12-month low of $84.00 and a 12-month high of $115.00. The stock has a market capitalization of $8.88 billion, a P/E ratio of 32.64, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49.

Analysts Set New Price Targets

LNW has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price objective on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. Stifel Nicolaus increased their price objective on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. Macquarie increased their price objective on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Benchmark increased their target price on Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Insider Activity

In other news, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $105.37, for a total transaction of $398,720.08. Following the completion of the sale, the chief executive officer now directly owns 21,254 shares in the company, valued at approximately $2,239,533.98. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $523,720.56. This represents a 18.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,867 shares of company stock valued at $1,037,884. 2.10% of the stock is currently owned by insiders.

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.