Franklin Resources Inc. Sells 1,062 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Franklin Resources Inc. decreased its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,888 shares of the company’s stock after selling 1,062 shares during the quarter. Franklin Resources Inc.’s holdings in Light & Wonder were worth $3,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new stake in Light & Wonder during the fourth quarter worth $596,000. Inceptionr LLC purchased a new stake in shares of Light & Wonder during the 4th quarter worth $261,000. AXQ Capital LP boosted its position in Light & Wonder by 94.6% during the fourth quarter. AXQ Capital LP now owns 7,198 shares of the company’s stock valued at $622,000 after purchasing an additional 3,500 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Light & Wonder by 29.2% in the fourth quarter. Teacher Retirement System of Texas now owns 23,903 shares of the company’s stock valued at $2,065,000 after purchasing an additional 5,397 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Light & Wonder by 107.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 20,528 shares of the company’s stock worth $1,756,000 after purchasing an additional 10,647 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Trading Down 0.1 %

NASDAQ LNW opened at $78.01 on Friday. Light & Wonder, Inc. has a 1 year low of $75.46 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. The company has a market capitalization of $6.59 billion, a PE ratio of 24.23, a P/E/G ratio of 0.35 and a beta of 1.38. The company has a fifty day moving average of $97.05 and a 200 day moving average of $93.71.

Insider Activity

In related news, CAO Vanja Kalabic sold 1,132 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were 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 in the company, valued at approximately $523,720.56. This trade represents a 18.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James Sottile sold 2,356 shares of the company’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 completion of the transaction, the vice president now 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 position. The disclosure for this sale can be found here. Insiders sold a total of 9,867 shares of company stock valued at $1,037,884 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LNW. Stifel Nicolaus cut their price objective on shares of Light & Wonder from $104.00 to $93.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. Macquarie upped their price target on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Mizuho raised their price objective on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price target on Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group increased their price objective 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.91.

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.