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

Light & Wonder, Inc. (NASDAQ:LNW) 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 changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LNW. Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. Macquarie raised their price target on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Benchmark lifted their price objective on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group upped their target price 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Light & Wonder has a consensus rating of “Moderate Buy” and an average price target of $110.91.

Light & Wonder Trading Down 10.3 %

The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The stock has a market capitalization of $7.53 billion, a PE ratio of 27.67, a P/E/G ratio of 0.35 and a beta of 1.59. The business’s fifty day moving average is $98.48 and its 200-day moving average is $95.76.

Insider Activity

In other Light & Wonder news, VP James Sottile sold 2,356 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $8,161,513.74. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction on 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 sale, the chief accounting officer now directly owns 5,016 shares of the company’s stock, valued at $523,720.56. The trade was a 18.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock valued at $1,037,884 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Light & Wonder

Large investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd acquired a new stake in Light & Wonder in the fourth quarter valued at approximately $596,000. Inceptionr LLC acquired a new stake in Light & Wonder during the 4th quarter valued at $261,000. AXQ Capital LP lifted its holdings in 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 buying an additional 3,500 shares in the last quarter. Main Management ETF Advisors LLC purchased a new position in Light & Wonder in the 3rd quarter valued at about $774,000. Finally, State Street Corp grew its stake in shares of Light & Wonder by 2.2% during the third quarter. State Street Corp now owns 2,651,627 shares of the company’s stock valued at $240,582,000 after acquiring an additional 56,890 shares in the last quarter. 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.