Mariner LLC Cuts Position in Light & Wonder, Inc. (NASDAQ:LNW)

Mariner LLC reduced its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 23.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,786 shares of the company’s stock after selling 834 shares during the period. Mariner LLC’s holdings in Light & Wonder were worth $241,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in LNW. R Squared Ltd purchased a new position in Light & Wonder in the 4th quarter valued at approximately $35,000. Blue Trust Inc. increased its position in shares of 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 buying an additional 474 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Light & Wonder during the 4th quarter worth $224,000. LPL Financial LLC boosted its position in shares of 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. Finally, Inceptionr LLC acquired a new stake in Light & Wonder in the 4th quarter valued at about $261,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Light & Wonder news, VP James Sottile sold 2,356 shares of the business’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 transaction, the vice president now owns 77,331 shares in the company, valued at $8,161,513.74. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Vanja Kalabic sold 1,132 shares of the company’s stock in a transaction dated 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 $523,720.56. The trade was a 18.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock worth $1,037,884 over the last three months. 2.10% of the stock is owned by insiders.

Light & Wonder Stock Up 0.5 %

Shares of NASDAQ LNW opened at $93.87 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The stock has a market capitalization of $7.96 billion, a PE ratio of 29.15, a P/E/G ratio of 0.35 and a beta of 1.30. The firm has a fifty day moving average of $92.07 and a 200-day moving average of $92.63. Light & Wonder, Inc. has a 52-week low of $75.46 and a 52-week high of $115.00.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LNW shares. Mizuho increased their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, February 26th. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. Truist Financial reduced their price objective on Light & Wonder from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Macquarie lifted 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 upped their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.64.

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.