Corebridge Financial Inc. Decreases Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Corebridge Financial Inc. lessened its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 4.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,942 shares of the company’s stock after selling 5,050 shares during the period. Corebridge Financial Inc. owned about 0.11% of Light & Wonder worth $8,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Xponance Inc. grew its position in shares of Light & Wonder by 0.7% in the 4th 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 last quarter. CIBC Asset Management Inc grew its position in Light & Wonder by 2.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock valued at $510,000 after buying an additional 146 shares during the last quarter. New York State Common Retirement Fund increased its stake in Light & Wonder by 0.5% in the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company’s stock valued at $3,477,000 after buying an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Light & Wonder by 1.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,559 shares of the company’s stock worth $1,775,000 after buying an additional 281 shares during the last quarter. Finally, LPL Financial LLC raised its position in Light & Wonder by 12.2% during the 4th quarter. LPL Financial LLC now owns 2,677 shares of the company’s stock worth $231,000 after buying an additional 291 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Insider Transactions at Light & Wonder

In related news, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following the completion of the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Oliver Chow sold 2,595 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $104.94, for a total value of $272,319.30. Following the sale, the chief financial officer now directly owns 3,695 shares in the company, valued at approximately $387,753.30. This represents a 41.26 % 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. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

LNW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Mizuho raised their price target on Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, February 26th. Stifel Nicolaus upped their target price on Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. Macquarie raised their target price 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, Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $110.91.

Light & Wonder Price Performance

LNW stock opened at $99.36 on Friday. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. Light & Wonder, Inc. has a 1 year low of $84.00 and a 1 year high of $115.00. The stock has a 50-day simple moving average of $98.50 and a 200-day simple moving average of $95.95. The firm has a market cap of $8.39 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59.

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.