Light & Wonder, Inc. (NASDAQ:LNW) Short Interest Update

Light & Wonder, Inc. (NASDAQ:LNW) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 2,600,000 shares, a decline of 17.7% from the March 15th total of 3,160,000 shares. Based on an average daily trading volume, of 809,700 shares, the days-to-cover ratio is currently 3.2 days. Currently, 3.1% of the shares of the company are sold short.

Insider Transactions at Light & Wonder

In other news, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.37, for a total value of $398,720.08. Following the completion of the sale, the chief executive officer now directly owns 21,254 shares of the company’s stock, valued at approximately $2,239,533.98. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Vanja Kalabic sold 1,132 shares of the business’s stock in a transaction on 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 directly owns 5,016 shares in the company, valued at $523,720.56. This trade represents a 18.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is owned by insiders.

Institutional Trading of Light & Wonder

Several hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its holdings in Light & Wonder by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 10,345 shares of the company’s stock worth $895,000 after buying an additional 280 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Light & Wonder during the first quarter valued at $909,000. Wealth Enhancement Advisory Services LLC increased its position in Light & Wonder by 63.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,191 shares of the company’s stock worth $363,000 after purchasing an additional 1,632 shares during the period. Simon Quick Advisors LLC raised its holdings in Light & Wonder by 2.9% during the 1st quarter. Simon Quick Advisors LLC now owns 4,752 shares of the company’s stock worth $412,000 after purchasing an additional 136 shares during the last quarter. Finally, CX Institutional acquired a new position in Light & Wonder during the 1st quarter valued at about $87,000. 88.08% of the stock is owned by institutional investors.

Light & Wonder Price Performance

LNW traded down $2.09 during trading on Monday, hitting $77.87. The company’s stock had a trading volume of 590,876 shares, compared to its average volume of 770,217. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38. The firm’s 50 day moving average price is $95.90 and its two-hundred day moving average price is $93.36. Light & Wonder has a 12 month low of $75.46 and a 12 month high of $115.00.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Mizuho boosted their price objective on Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, February 26th. Macquarie raised their target price on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their price target on shares of Light & Wonder from $104.00 to $93.00 and set a “hold” rating on the stock in a report on Thursday, April 3rd. Finally, Benchmark raised their price objective 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $109.91.

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.