Light & Wonder, Inc. (NASDAQ:LNW) CEO Sells $398,720.08 in Stock

Light & Wonder, Inc. (NASDAQ:LNW) CEO Siobhan Lane sold 3,784 shares of the firm’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 approximately $2,239,533.98. The trade was a 15.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Light & Wonder Stock Up 1.0 %

NASDAQ:LNW opened at $105.10 on Monday. The firm has a market cap of $8.88 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59. The company has a 50-day moving average of $93.60 and a 200 day moving average of $96.20. Light & Wonder, Inc. has a 1-year low of $84.00 and a 1-year high of $115.00. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61.

Institutional Trading of Light & Wonder

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Light & Wonder by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock valued at $733,584,000 after acquiring an additional 100,527 shares in the last quarter. State Street Corp boosted its position in Light & Wonder by 2.2% in the 3rd quarter. State Street Corp now owns 2,651,627 shares of the company’s stock worth $240,582,000 after purchasing an additional 56,890 shares in the last quarter. Burgundy Asset Management Ltd. boosted its position in Light & Wonder by 2.0% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company’s stock worth $127,198,000 after purchasing an additional 28,358 shares in the last quarter. FMR LLC boosted its position in Light & Wonder by 28.7% in the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock worth $131,745,000 after purchasing an additional 324,088 shares in the last quarter. Finally, Norges Bank purchased a new stake in Light & Wonder in the 4th quarter worth approximately $91,683,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on LNW. Benchmark raised their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Macquarie raised their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Mizuho boosted their price objective on shares of Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus boosted their target price on shares of Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.83.

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.