Light & Wonder (NASDAQ:LNW) Shares Down 4.2% – What’s Next?

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Jefferies Financial Group upped their price objective on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Benchmark raised their target price on Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Mizuho boosted their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Light & Wonder currently has a consensus rating of “Moderate Buy” and an average price target of $110.91.

Light & Wonder Stock Performance

The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. The firm 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 simple moving average is $98.48 and its 200 day simple moving average is $95.83.

Insider Activity at Light & Wonder

In other Light & Wonder news, CFO Oliver Chow sold 2,595 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $104.94, for a total value of $272,319.30. Following the completion of the transaction, the chief financial officer now owns 3,695 shares in the company, valued at $387,753.30. This trade represents a 41.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James Sottile sold 2,356 shares of the company’s stock in a transaction dated 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 approximately $8,161,513.74. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Light & Wonder

A number of large investors have recently modified their holdings of LNW. Vanguard Group Inc. increased its holdings in Light & Wonder by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock worth $733,584,000 after acquiring an additional 100,527 shares during the period. State Street Corp increased its holdings in shares of Light & Wonder by 2.2% in the third quarter. State Street Corp now owns 2,651,627 shares of the company’s stock worth $240,582,000 after purchasing an additional 56,890 shares during the period. Burgundy Asset Management Ltd. increased its holdings in shares of Light & Wonder by 2.0% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company’s stock worth $127,198,000 after purchasing an additional 28,358 shares during the period. FMR LLC raised its position in shares of Light & Wonder by 28.7% in the third 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. Finally, Norges Bank bought a new stake in Light & Wonder during the fourth quarter valued at $91,683,000. 88.08% of the stock is currently owned by institutional investors.

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.