Exchange Traded Concepts LLC Has $1.89 Million Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Exchange Traded Concepts LLC grew its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 21,858 shares of the company’s stock after acquiring an additional 458 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Light & Wonder were worth $1,888,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Millennium Management LLC grew its stake in Light & Wonder by 573.3% during the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after purchasing an additional 493,295 shares during the period. FMR LLC boosted its holdings in shares of Light & Wonder by 28.7% during the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock worth $131,745,000 after buying an additional 324,088 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Light & Wonder during the 3rd quarter worth approximately $25,277,000. Barclays PLC increased 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 valued at $14,142,000 after acquiring an additional 131,486 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Light & Wonder by 2.2% during the 3rd quarter. State Street Corp now owns 2,651,627 shares of the company’s stock valued at $240,582,000 after acquiring an additional 56,890 shares during the period. 88.08% of the stock is owned by institutional investors.

Light & Wonder Stock Performance

Shares of LNW stock opened at $87.10 on Monday. Light & Wonder, Inc. has a one year low of $79.22 and a one year high of $115.00. The company has a market cap of $7.69 billion, a P/E ratio of 27.05, a P/E/G ratio of 0.31 and a beta of 1.73. The firm has a 50-day moving average of $90.51 and a 200-day moving average of $97.47. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61.

Analysts Set New Price Targets

A number of research firms have commented on LNW. Craig Hallum upgraded shares of Light & Wonder to a “strong-buy” rating in a report on Friday, October 4th. Jefferies Financial Group increased their price target on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Truist Financial reduced their price objective on Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, B. Riley initiated coverage on Light & Wonder in a research report on Tuesday, October 8th. They set a “buy” rating and a $120.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $108.50.

About Light & Wonder

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.