Bessemer Group Inc. Has $32.20 Million Stock Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Bessemer Group Inc. raised its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 17.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 372,809 shares of the company’s stock after buying an additional 56,378 shares during the period. Bessemer Group Inc. owned about 0.42% of Light & Wonder worth $32,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Light & Wonder in the fourth quarter valued at approximately $91,683,000. Bank of Nova Scotia purchased a new stake in Light & Wonder in the 4th quarter valued at $16,020,000. Invesco Ltd. lifted its stake in Light & Wonder by 37.0% during the 4th quarter. Invesco Ltd. now owns 587,809 shares of the company’s stock valued at $50,775,000 after acquiring an additional 158,790 shares in the last quarter. National Bank of Canada FI purchased a new position in Light & Wonder during the 4th quarter worth $12,033,000. Finally, Barclays PLC grew its stake in shares of Light & Wonder by 539.6% in the 3rd quarter. Barclays PLC now owns 155,852 shares of the company’s stock worth $14,142,000 after acquiring an additional 131,486 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LNW. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their target price 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 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. Benchmark lifted their price target on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Macquarie upped their price objective on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.91.

Insider Buying and Selling at Light & Wonder

In related news, CFO Oliver Chow sold 2,595 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $104.94, for a total transaction of $272,319.30. Following the completion of the transaction, the chief financial officer now owns 3,695 shares of the company’s stock, valued at approximately $387,753.30. The trade was a 41.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.37, for a total transaction of $398,720.08. Following the completion of the sale, the chief executive officer now owns 21,254 shares in the company, valued at $2,239,533.98. This represents a 15.11 % 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 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Light & Wonder Stock Performance

NASDAQ LNW opened at $83.82 on Thursday. The company’s 50 day moving average is $97.37 and its 200-day moving average is $93.89. The firm has a market cap of $7.08 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38. Light & Wonder, Inc. has a 12-month low of $75.46 and a 12-month high of $115.00. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

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.