Charles Schwab Investment Management Inc. Sells 19,803 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Charles Schwab Investment Management Inc. reduced its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 726,344 shares of the company’s stock after selling 19,803 shares during the period. Charles Schwab Investment Management Inc. owned about 0.82% of Light & Wonder worth $62,742,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in Light & Wonder by 2.2% during the 3rd quarter. State Street Corp now owns 2,651,627 shares of the company’s stock worth $240,582,000 after purchasing an additional 56,890 shares in the last quarter. FMR LLC grew its holdings in shares of Light & Wonder by 28.7% in the third quarter. FMR LLC now owns 1,452,052 shares of the company’s stock valued at $131,745,000 after acquiring an additional 324,088 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Light & Wonder in the third quarter valued at approximately $25,277,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Light & Wonder by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 206,851 shares of the company’s stock valued at $18,768,000 after acquiring an additional 2,972 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Light & Wonder by 539.6% in the third quarter. Barclays PLC now owns 155,852 shares of the company’s stock valued at $14,142,000 after acquiring an additional 131,486 shares in the last quarter. 88.08% of the stock is owned by institutional investors.

Light & Wonder Trading Down 0.1 %

NASDAQ:LNW opened at $101.94 on Thursday. The company has a market cap of $8.61 billion, a P/E ratio of 31.66, a P/E/G ratio of 0.35 and a beta of 1.59. The stock’s fifty day moving average price is $94.58 and its two-hundred day moving average price is $96.17. Light & Wonder, Inc. has a 1 year low of $84.00 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.

Insiders Place Their Bets

In related news, VP James Sottile sold 2,356 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following the sale, the vice president now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Oliver Chow sold 2,595 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $104.94, for a total value of $272,319.30. Following the completion of the sale, the chief financial officer now owns 3,695 shares in the company, valued at $387,753.30. This trade represents a 41.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock worth $1,037,884 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LNW shares. Stifel Nicolaus upped their target price on Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, February 19th. Mizuho upped their target price on Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a report on Wednesday, February 26th. Macquarie upped their target price on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Jefferies Financial Group upped their price objective on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.91.

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.