Light & Wonder (NASDAQ:LNW) Shares Gap Up – Should You Buy?

Light & Wonder, Inc. (NASDAQ:LNW) gapped up prior to trading on Wednesday . The stock had previously closed at $87.87, but opened at $90.01. Light & Wonder shares last traded at $91.31, with a volume of 121,526 shares trading hands.

Analysts Set New Price Targets

LNW has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Mizuho boosted their price objective on shares of Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a report on Wednesday, February 26th. Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Macquarie boosted their price objective on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Benchmark upped 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Light & Wonder currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.91.

Light & Wonder Stock Up 3.6 %

The business’s 50 day moving average is $98.34 and its 200-day moving average is $95.32. 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 company has a market cap of $7.69 billion, a PE ratio of 28.28, a P/E/G ratio of 0.35 and a beta of 1.59.

Insider Buying and Selling

In other news, CAO Vanja Kalabic sold 1,132 shares of the 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 sale, the chief accounting officer now directly owns 5,016 shares of the company’s stock, valued at approximately $523,720.56. This represents a 18.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James Sottile sold 2,356 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the transaction, the vice president now owns 77,331 shares in the company, valued at approximately $8,161,513.74. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,867 shares of company stock worth $1,037,884. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

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