Light & Wonder, Inc. (NASDAQ:LNW) CAO Sells $118,192.12 in Stock

Light & Wonder, Inc. (NASDAQ:LNW) CAO Vanja Kalabic sold 1,132 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $104.41, for a total transaction of $118,192.12. Following the transaction, the chief accounting officer now owns 5,016 shares in the company, valued at $523,720.56. This represents a 18.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Light & Wonder Stock Performance

Shares of NASDAQ:LNW opened at $105.10 on Monday. The company’s 50 day moving average price is $93.60 and its two-hundred day moving average price is $96.20. Light & Wonder, Inc. has a 12-month low of $84.00 and a 12-month high of $115.00. The firm has a market cap of $8.88 billion, a PE ratio of 32.64, a PEG ratio of 0.35 and a beta of 1.59. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LNW. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Light & Wonder during the 3rd quarter worth approximately $420,000. QRG Capital Management Inc. grew its position in shares of Light & Wonder by 6.0% during the 3rd quarter. QRG Capital Management Inc. now owns 10,646 shares of the company’s stock worth $966,000 after purchasing an additional 600 shares in the last quarter. M&G PLC lifted its holdings in shares of Light & Wonder by 2.9% during the 3rd quarter. M&G PLC now owns 119,896 shares of the company’s stock worth $10,911,000 after acquiring an additional 3,412 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Light & Wonder during the 3rd quarter worth approximately $29,000. Finally, XY Capital Ltd lifted its holdings in shares of Light & Wonder by 200.2% during the 3rd quarter. XY Capital Ltd now owns 35,170 shares of the company’s stock worth $3,191,000 after acquiring an additional 23,456 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LNW. JPMorgan Chase & Co. boosted their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Benchmark boosted their price objective 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. Stifel Nicolaus boosted their price objective on shares of Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th. Mizuho upped their price target 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. Finally, Macquarie upped their price target on shares of Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.83.

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.