Light & Wonder (NASDAQ:LNW) Shares Gap Up - What's Next?

Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report)'s stock price 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. 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 report on Wednesday, February 26th. Jefferies Financial Group raised their price target on shares of Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Stifel Nicolaus cut their target price on Light & Wonder from $104.00 to $93.00 and set a "hold" rating on the stock in a research report on Thursday. Mizuho lifted their price target on Light & Wonder from $76.00 to $80.00 and gave the stock an "underperform" rating in a research note on Wednesday, February 26th. Finally, Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $109.91.

Light & Wonder Price Performance

The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The company has a fifty day moving average price of $98.14 and a two-hundred day moving average price of $94.76. The company has a market cap of $6.62 billion, a P/E ratio of 24.32, a PEG ratio of 0.35 and a beta of 1.38.

Insiders Place Their Bets

In related news, CAO Vanja Kalabic sold 1,132 shares of Light & Wonder stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $104.41, for a total transaction of $118,192.12. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock valued at $1,037,884 over the last 90 days. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LNW. Norges Bank bought a new position in shares of Light & Wonder in the fourth quarter worth $91,683,000. Park West Asset Management LLC bought a new stake in shares of Light & Wonder during the 4th quarter worth approximately $46,241,000. Bank of Nova Scotia acquired a new stake in shares of Light & Wonder during the 4th quarter worth approximately $16,020,000. Engine Capital Management LP raised its position in Light & Wonder by 1,110.0% during the fourth quarter. Engine Capital Management LP now owns 175,524 shares of the company's stock valued at $15,162,000 after purchasing an additional 161,018 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Light & Wonder by 37.0% during the fourth quarter. Invesco Ltd. now owns 587,809 shares of the company's stock worth $50,775,000 after purchasing an additional 158,790 shares during the last quarter. 88.08% of the stock is owned by 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.