Light & Wonder (NASDAQ:LNW) Trading Down 4.2% – Time to Sell?

Light & Wonder, Inc. (NASDAQ:LNW)’s share price fell 4.2% on Thursday . The company traded as low as $99.85 and last traded at $101.05. 114,451 shares were traded during trading, a decline of 84% from the average session volume of 702,938 shares. The stock had previously closed at $105.49.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LNW. Mizuho increased their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. Macquarie raised 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. boosted their price target on Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a 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 report on Friday, February 28th. Finally, Jefferies Financial Group lifted their target price on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.91.

Light & Wonder Trading Down 10.3 %

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’s 50-day moving average is $98.48 and its 200 day moving average is $95.83. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 0.35 and a beta of 1.59.

Insider Activity at Light & Wonder

In other news, CEO Siobhan Lane sold 3,784 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.37, for a total value of $398,720.08. Following the transaction, the chief executive officer now directly owns 21,254 shares of the company’s stock, valued at $2,239,533.98. The trade was a 15.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction that occurred 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 completion of the sale, the vice president now owns 77,331 shares of the company’s stock, valued at approximately $8,161,513.74. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock worth $1,037,884 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Light & Wonder

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in Light & Wonder by 2.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock valued at $387,000 after acquiring an additional 108 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Light & Wonder by 3.3% in the 4th quarter. Centaurus Financial Inc. now owns 3,350 shares of the company’s stock worth $289,000 after purchasing an additional 108 shares in the last quarter. Xponance Inc. increased its stake in 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 purchasing an additional 120 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Light & Wonder by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock valued at $510,000 after buying an additional 146 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Light & Wonder by 0.5% during the fourth 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 in the last quarter. 88.08% of the stock is owned by institutional investors.

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.