Insider Selling: Light & Wonder, Inc. (NASDAQ:LNW) CEO Sells 3,784 Shares of Stock

Light & Wonder, Inc. (NASDAQ:LNW) CEO Siobhan Lane sold 3,784 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total transaction of $398,720.08. Following the transaction, the chief executive officer now directly owns 21,254 shares of the company’s stock, valued at approximately $2,239,533.98. This trade represents a 15.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Light & Wonder Stock Up 1.0 %

Shares of NASDAQ:LNW traded up $1.08 during midday trading on Friday, hitting $105.10. 795,251 shares of the stock were exchanged, compared to its average volume of 732,115. The business’s fifty day simple moving average is $93.22 and its two-hundred day simple moving average is $96.37. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. Light & Wonder, Inc. has a 52-week low of $84.00 and a 52-week high of $115.00. The company has a market capitalization of $8.88 billion, a PE ratio of 32.64, a P/E/G ratio of 0.35 and a beta of 1.59.

Wall Street Analyst Weigh In

Several research analysts have commented on LNW shares. Jefferies Financial Group upped their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Benchmark raised their price objective on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Mizuho increased their price target on Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research note on Wednesday, February 26th. Macquarie boosted their price objective on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.83.

Institutional Investors Weigh In On Light & Wonder

Several institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Light & Wonder in the 4th quarter valued at approximately $91,683,000. Park West Asset Management LLC acquired a new stake in shares of Light & Wonder in the fourth quarter worth $46,241,000. 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 during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Light & Wonder in the 3rd quarter valued at $25,277,000. Finally, Bank of Nova Scotia bought a new position in Light & Wonder in the 4th quarter worth $16,020,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.