Loomis Sayles & Co. L P Reduces Position in Light & Wonder, Inc. (NASDAQ:LNW)

Loomis Sayles & Co. L P decreased its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 49.0% in the fourth quarter, HoldingsChannel reports. The fund owned 191,669 shares of the company’s stock after selling 184,520 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Light & Wonder were worth $16,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Light & Wonder by 2.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock valued at $387,000 after purchasing an additional 108 shares during the period. Xponance Inc. grew its stake in shares of Light & Wonder by 0.7% during the 4th quarter. Xponance Inc. now owns 17,769 shares of the company’s stock valued at $1,535,000 after acquiring an additional 120 shares during the period. CIBC Asset Management Inc increased its holdings in Light & Wonder by 2.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock worth $510,000 after acquiring an additional 146 shares in the last quarter. New York State Common Retirement Fund raised its stake in Light & Wonder by 0.5% during the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company’s stock worth $3,477,000 after acquiring an additional 200 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Light & Wonder by 1.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,559 shares of the company’s stock valued at $1,775,000 after purchasing an additional 281 shares in the last quarter. 88.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Macquarie increased their price objective on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Mizuho boosted their price objective on Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, February 26th. Benchmark upped their price objective on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus upped their price target on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.91.

Light & Wonder Trading Down 10.3 %

Shares of LNW opened at $89.09 on Friday. The stock has a market capitalization of $7.53 billion, a PE ratio of 27.67, a P/E/G ratio of 0.35 and a beta of 1.59. The company’s fifty day moving average is $98.48 and its 200 day moving average is $95.83. 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 fifty-two week low of $84.00 and a fifty-two week high of $115.00.

Insiders Place Their Bets

In other news, CAO Vanja Kalabic sold 1,132 shares of the firm’s 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 $523,720.56. This trade represents a 18.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP James Sottile sold 2,356 shares of the stock in a transaction on Thursday, March 6th. The shares were 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 $8,161,513.74. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock valued at $1,037,884 in the last three months. Corporate insiders own 2.10% of the company’s stock.

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.