Insider Selling: 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 Light & Wonder stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $105.37, for a total transaction of $398,720.08. Following the transaction, the chief executive officer now owns 21,254 shares of the company’s stock, valued at $2,239,533.98. This represents a 15.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Light & Wonder Price Performance

LNW stock opened at $105.10 on Monday. The stock has a market cap of $8.88 billion, a PE ratio of 32.64, a P/E/G ratio of 0.35 and a beta of 1.59. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. Light & Wonder, Inc. has a one year low of $84.00 and a one year high of $115.00. The firm has a 50 day simple moving average of $93.60 and a two-hundred day simple moving average of $96.20.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LNW shares. Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Mizuho lifted their price objective on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. Stifel Nicolaus lifted their price objective on shares of Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Benchmark lifted 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Institutional Investors Weigh In On Light & Wonder

A number of hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Light & Wonder by 2.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock worth $387,000 after acquiring an additional 108 shares during the last quarter. Xponance Inc. raised its holdings in Light & Wonder by 0.7% in the 4th quarter. Xponance Inc. now owns 17,769 shares of the company’s stock worth $1,535,000 after purchasing an additional 120 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Light & Wonder by 2.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock worth $510,000 after purchasing an additional 146 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Light & Wonder by 0.5% in the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company’s stock worth $3,477,000 after purchasing an additional 200 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in Light & Wonder by 6.8% during the 4th quarter. ProShare Advisors LLC now owns 4,131 shares of the company’s stock valued at $357,000 after acquiring an additional 263 shares during the period. 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.