Oliver Chow Sells 2,595 Shares of Light & Wonder, Inc. (NASDAQ:LNW) Stock

Light & Wonder, Inc. (NASDAQ:LNW) CFO Oliver Chow sold 2,595 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $104.94, for a total transaction of $272,319.30. Following the completion of the sale, the chief financial officer now directly owns 3,695 shares in the company, valued at $387,753.30. This trade represents a 41.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Light & Wonder Stock Performance

Light & Wonder stock opened at $105.10 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a 1 year low of $84.00 and a 1 year high of $115.00. The company 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’s 50-day moving average is $93.60 and its two-hundred day moving average is $96.29.

Wall Street Analysts Forecast Growth

LNW has been the topic of several analyst reports. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Macquarie upped their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Benchmark upped their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. upped their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus upped their target price on shares of Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd acquired a new position in Light & Wonder during the 4th quarter valued at about $596,000. Algert Global LLC increased its stake in shares of Light & Wonder by 118.5% in the 3rd quarter. Algert Global LLC now owns 61,606 shares of the company’s stock valued at $5,590,000 after acquiring an additional 33,410 shares during the last quarter. Main Management ETF Advisors LLC bought a new stake in shares of Light & Wonder in the 3rd quarter valued at about $774,000. GSA Capital Partners LLP bought a new stake in shares of Light & Wonder in the 3rd quarter valued at about $725,000. Finally, State Street Corp increased its stake in shares of Light & Wonder by 2.2% in the 3rd 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 during 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.