California Public Employees Retirement System Reduces Stock Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

California Public Employees Retirement System lessened its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 5.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,835 shares of the company’s stock after selling 8,061 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Light & Wonder worth $12,684,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd purchased a new stake in Light & Wonder in the 4th quarter worth approximately $596,000. Inceptionr LLC purchased a new stake in Light & Wonder in the 4th quarter valued at about $261,000. AXQ Capital LP lifted its holdings in shares of Light & Wonder by 94.6% during the 4th quarter. AXQ Capital LP now owns 7,198 shares of the company’s stock worth $622,000 after acquiring an additional 3,500 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Light & Wonder by 29.2% in the fourth quarter. Teacher Retirement System of Texas now owns 23,903 shares of the company’s stock worth $2,065,000 after acquiring an additional 5,397 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in Light & Wonder in the third quarter valued at approximately $774,000. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Stock Down 5.0 %

LNW stock opened at $79.78 on Friday. 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 has a 50 day simple moving average of $98.14 and a 200-day simple moving average of $94.89. The company has a market capitalization of $6.74 billion, a P/E ratio of 24.78, a PEG ratio of 0.35 and a beta of 1.38. Light & Wonder, Inc. has a twelve month low of $75.46 and a twelve month high of $115.00.

Insiders Place Their Bets

In other news, CAO Vanja Kalabic sold 1,132 shares of Light & Wonder 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Siobhan Lane sold 3,784 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total value of $398,720.08. Following the completion of the sale, the chief executive officer now owns 21,254 shares of the company’s stock, valued at $2,239,533.98. This trade represents a 15.11 % decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LNW shares. Benchmark lifted their price target 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. Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. upped 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. Mizuho lifted their price objective on Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday, February 26th. Finally, Macquarie increased their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Light & Wonder presently has a consensus rating of “Moderate Buy” and a consensus price target 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.