Light & Wonder (NASDAQ:LNW) Shares Gap Down - Should You Sell?

Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $99.36, but opened at $96.81. Light & Wonder shares last traded at $91.19, with a volume of 163,889 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently commented on LNW. Stifel Nicolaus lifted their target price on Light & Wonder from $90.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, February 19th. Citigroup raised shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. 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 report on Wednesday, February 26th. Jefferies Financial Group boosted their price objective on Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Finally, Macquarie increased their target price on Light & Wonder from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $110.91.

Light & Wonder Stock Up 1.3 %

The stock has a 50-day moving average of $98.41 and a 200 day moving average of $95.49. 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 $7.41 billion, a P/E ratio of 27.23, a PEG ratio of 0.35 and a beta of 1.59.

Remove Ads

Insider Activity at Light & Wonder

In other Light & Wonder news, CAO Vanja Kalabic sold 1,132 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $104.41, for a total transaction of $118,192.12. Following the completion of the transaction, the chief accounting officer now owns 5,016 shares of the company's stock, valued at approximately $523,720.56. The trade was a 18.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Oliver Chow sold 2,595 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 3,695 shares in the company, valued at approximately $387,753.30. The trade was a 41.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,867 shares of company stock valued at $1,037,884 over the last three months. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cerity Partners LLC raised its position in Light & Wonder by 222.1% in the third quarter. Cerity Partners LLC now owns 13,042 shares of the company's stock valued at $1,183,000 after purchasing an additional 8,993 shares during the last quarter. FMR LLC boosted its position in 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. BNP Paribas Financial Markets boosted its position in Light & Wonder by 108.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,434 shares of the company's stock worth $1,128,000 after buying an additional 6,472 shares during the period. Bridgewater Associates LP acquired a new stake in Light & Wonder during the 3rd quarter worth approximately $1,347,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Light & Wonder by 1.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,559 shares of the company's stock valued at $1,775,000 after acquiring an additional 281 shares during the period. 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.