Light & Wonder, Inc. (NASDAQ:LNW) CFO Sells $272,319.30 in Stock

Light & Wonder, Inc. (NASDAQ:LNW) CFO Oliver Chow sold 2,595 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $104.94, for a total value of $272,319.30. Following the transaction, the chief financial officer now directly owns 3,695 shares in the company, valued at $387,753.30. This represents a 41.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Light & Wonder Stock Up 1.0 %

Shares of LNW opened at $105.10 on Monday. Light & Wonder, Inc. has a 52 week low of $84.00 and a 52 week high of $115.00. 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 company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 0.35 and a beta of 1.59. The stock’s 50-day moving average price is $93.60 and its 200-day moving average price is $96.20.

Wall Street Analyst Weigh In

LNW has been the topic of several recent analyst reports. Jefferies Financial Group upped their target price 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 upped their target price on Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Stifel Nicolaus boosted their price target on Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price target on Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Institutional Trading of Light & Wonder

Hedge funds have recently modified their holdings of the stock. True Wealth Design LLC purchased a new stake in shares of Light & Wonder in the third quarter worth about $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Light & Wonder in the third quarter worth about $29,000. R Squared Ltd purchased a new stake in shares of Light & Wonder in the fourth quarter worth about $35,000. Quarry LP acquired a new position in Light & Wonder in the 3rd quarter worth about $51,000. Finally, Blue Trust Inc. raised 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 purchasing an additional 474 shares during the period. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.