Oliver Chow Sells 2,595 Shares of Light & Wonder, Inc. (NASDAQ:LNW) Stock

Light & Wonder, Inc. (NASDAQ:LNW) CFO Oliver Chow sold 2,595 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $104.94, for a total transaction of $272,319.30. Following the sale, the chief financial officer now owns 3,695 shares in the company, valued at approximately $387,753.30. This trade represents a 41.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Light & Wonder Trading Up 1.0 %

LNW stock opened at $105.10 on Friday. Light & Wonder, Inc. has a 1-year low of $84.00 and a 1-year high of $115.00. 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 capitalization of $8.88 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 0.35 and a beta of 1.59. The business has a 50 day simple moving average of $93.22 and a two-hundred day simple moving average of $96.37.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Light & Wonder during the 4th quarter valued at approximately $91,683,000. Park West Asset Management LLC bought a new position in shares of Light & Wonder during the 4th quarter valued at approximately $46,241,000. FMR LLC boosted its position 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 valued at $131,745,000 after acquiring an additional 324,088 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Light & Wonder during the 3rd quarter valued at $25,277,000. Finally, Bank of Nova Scotia purchased a new stake in Light & Wonder during the 4th quarter valued at $16,020,000. 88.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LNW shares. JPMorgan Chase & Co. upped their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Macquarie upped their price target on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Mizuho upped their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 26th. Stifel Nicolaus boosted their target price on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. Finally, Benchmark boosted their target price on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.83.

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.