Light & Wonder (NASDAQ:LNW) Shares Down 4.2% – Time to Sell?

Light & Wonder, Inc. (NASDAQ:LNW)’s share price traded down 4.2% during mid-day trading on Thursday . The company traded as low as $99.85 and last traded at $101.05. 114,451 shares traded 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

A number of equities research analysts have recently weighed in on LNW shares. Benchmark lifted their price objective on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Macquarie lifted their price target on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Stifel Nicolaus increased their price objective on Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday, February 19th. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Mizuho raised their price objective on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.91.

Light & Wonder Stock 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 stock has a market cap of $8.54 billion, a PE ratio of 31.39, a PEG ratio of 0.35 and a beta of 1.59. The stock has a fifty day simple moving average of $98.30 and a two-hundred day simple moving average of $95.93.

Insider Activity

In other Light & Wonder news, CEO Siobhan Lane sold 3,784 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.37, for a total transaction of $398,720.08. Following the sale, the chief executive officer now owns 21,254 shares in the company, valued at $2,239,533.98. This represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following the completion of the transaction, the vice president now owns 77,331 shares of the company’s stock, valued at approximately $8,161,513.74. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. True Wealth Design LLC acquired a new stake in Light & Wonder during the third quarter worth about $28,000. R Squared Ltd acquired a new stake in shares of Light & Wonder during the 4th quarter worth approximately $35,000. Quarry LP bought a new stake in shares of Light & Wonder in the 3rd quarter worth approximately $51,000. Blue Trust Inc. boosted its position in Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company’s stock valued at $65,000 after purchasing an additional 474 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Light & Wonder during the 3rd quarter worth $104,000. 88.08% of the stock is currently owned by institutional investors.

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.