Cerity Partners LLC Cuts Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Cerity Partners LLC lessened its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 21.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,200 shares of the company’s stock after selling 2,842 shares during the quarter. Cerity Partners LLC’s holdings in Light & Wonder were worth $888,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LNW. R Squared Ltd bought a new position in shares of Light & Wonder during the fourth quarter worth about $35,000. Blue Trust Inc. grew its position in Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company’s stock worth $65,000 after purchasing an additional 474 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Light & Wonder in the third quarter valued at approximately $222,000. Landscape Capital Management L.L.C. acquired a new position in shares of Light & Wonder during the fourth quarter worth approximately $224,000. Finally, LPL Financial LLC grew its holdings in Light & Wonder by 12.2% in 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 in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Light & Wonder Trading Up 2.0 %

NASDAQ LNW opened at $79.96 on Friday. The company has a market capitalization of $6.75 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38. Light & Wonder, Inc. has a 1-year low of $75.46 and a 1-year high of $115.00. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. The firm’s fifty day simple moving average is $95.90 and its 200-day simple moving average is $93.33.

Analyst Upgrades and Downgrades

LNW has been the topic of a number of research analyst reports. Benchmark raised their price objective on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Stifel Nicolaus lowered their target price on Light & Wonder from $104.00 to $93.00 and set a “hold” rating on the stock in a report on Thursday, April 3rd. Mizuho upped their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a report on Wednesday, February 26th. Finally, Macquarie boosted their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.91.

Insiders Place Their Bets

In other news, CAO Vanja Kalabic sold 1,132 shares of the 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 completion of the sale, the chief accounting officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James Sottile sold 2,356 shares of the firm’s stock in a transaction on 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 sale, the vice president now owns 77,331 shares in the company, valued at $8,161,513.74. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,867 shares of company stock valued at $1,037,884 over the last three months. 2.10% of the stock is currently owned by insiders.

Light & Wonder Company 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.