Light & Wonder (NASDAQ:LNW) Shares Down 4.2% – Should You Sell?

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

Wall Street Analysts Forecast Growth

LNW has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised 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. Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Macquarie raised their price objective 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 increased their price target on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. Finally, Benchmark boosted their price objective on Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 28th. 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $110.91.

Light & Wonder Stock Down 4.2 %

The company has a market capitalization of $8.54 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59. The business’s 50-day simple moving average is $98.30 and its 200-day simple moving average is $95.93. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49.

Insider Buying and Selling

In other news, CEO Siobhan Lane sold 3,784 shares of Light & Wonder stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.37, for a total transaction of $398,720.08. Following the transaction, the chief executive officer now owns 21,254 shares in the company, valued at $2,239,533.98. The trade was a 15.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $248,652.24. Following the completion of the sale, the vice president now directly owns 77,331 shares of the company’s stock, valued at $8,161,513.74. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Light & Wonder

Several hedge funds have recently made changes to their positions in LNW. Y Intercept Hong Kong Ltd acquired a new position in Light & Wonder in the fourth quarter valued at approximately $596,000. Inceptionr LLC purchased a new stake in shares of Light & Wonder in the 4th quarter valued at approximately $261,000. AXQ Capital LP lifted its holdings in shares of Light & Wonder by 94.6% in the 4th quarter. AXQ Capital LP now owns 7,198 shares of the company’s stock worth $622,000 after acquiring an additional 3,500 shares during the last quarter. Main Management ETF Advisors LLC purchased a new position in shares of Light & Wonder during the 3rd quarter worth approximately $774,000. Finally, State Street Corp raised its position in Light & Wonder by 2.2% in the third quarter. State Street Corp now owns 2,651,627 shares of the company’s stock valued at $240,582,000 after purchasing an additional 56,890 shares during the period. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.