Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report)'s stock price traded down 4.2% during trading on Thursday . The stock 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.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Citigroup raised shares of Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. Macquarie upped 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. Jefferies Financial Group lifted their price target on Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Benchmark boosted their price objective on Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Mizuho raised their target price on shares of Light & Wonder from $76.00 to $80.00 and gave the company an "underperform" rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Light & Wonder currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.91.
Read Our Latest Stock Analysis on Light & Wonder
Light & Wonder Price Performance
The firm's 50 day simple moving average is $98.41 and its two-hundred day simple moving average is $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 firm has a market capitalization of $7.42 billion, a P/E ratio of 27.29, a P/E/G ratio of 0.35 and a beta of 1.59.
Insider Activity
In other news, CEO Siobhan Lane sold 3,784 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total value of $398,720.08. Following the transaction, the chief executive officer now owns 21,254 shares in the company, valued at approximately $2,239,533.98. This trade represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction on Thursday, March 6th. The stock was 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 directly owns 77,331 shares in the company, valued at approximately $8,161,513.74. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,867 shares of company stock valued at $1,037,884. Insiders own 2.10% of the company's stock.
Institutional Investors Weigh In On Light & Wonder
A number of large investors have recently added to or reduced their stakes in LNW. True Wealth Design LLC bought a new position in shares of Light & Wonder during the third quarter valued at about $28,000. R Squared Ltd bought a new position in Light & Wonder during the 4th quarter valued at approximately $35,000. Quarry LP purchased a new stake in Light & Wonder in the 3rd quarter worth approximately $51,000. Blue Trust Inc. lifted its holdings in Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after buying an additional 474 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in shares of Light & Wonder in the 3rd quarter worth approximately $104,000. Institutional investors own 88.08% of the company's stock.
Light & Wonder Company Profile
(
Get Free Report)
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.
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