Light & Wonder (NASDAQ:LNW) Shares Gap Down - Time to Sell?

Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $90.12, but opened at $88.00. Light & Wonder shares last traded at $85.81, with a volume of 188,145 shares.

Analyst Ratings Changes

A number of equities analysts have weighed in on LNW shares. Truist Financial dropped their price target on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Macquarie lowered their target price on shares of Light & Wonder from $125.00 to $120.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Citigroup raised shares of Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. raised their price target on Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Benchmark lowered their price objective on Light & Wonder from $130.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $106.82.

Light & Wonder Trading Up 2.0%

The stock has a market cap of $7.31 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30. The stock has a 50-day moving average price of $84.47 and a two-hundred day moving average price of $91.22. 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 (NASDAQ:LNW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). Light & Wonder had a net margin of 9.30% and a return on equity of 49.91%. The firm had revenue of $774.00 million for the quarter, compared to the consensus estimate of $802.93 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The firm's revenue was up 2.4% compared to the same quarter last year. Sell-side analysts forecast that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, CAO Vanja Kalabic sold 1,132 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $104.41, for a total value of $118,192.12. Following the completion of the sale, the chief accounting officer now owns 5,016 shares of the company's stock, valued at $523,720.56. This trade represents a 18.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Sottile sold 2,356 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value of $248,652.24. Following the completion of the sale, the vice president now owns 77,331 shares of the company's stock, valued at $8,161,513.74. The trade was a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock worth $1,037,884 over the last 90 days. 2.20% of the stock is owned by insiders.

Institutional Trading of Light & Wonder

A number of hedge funds have recently added to or reduced their stakes in LNW. Versant Capital Management Inc lifted its position in shares of Light & Wonder by 4,783.3% in the 1st quarter. Versant Capital Management Inc now owns 293 shares of the company's stock worth $25,000 after purchasing an additional 287 shares during the period. R Squared Ltd purchased a new position in shares of Light & Wonder during the 4th quarter valued at about $35,000. Farther Finance Advisors LLC lifted its holdings in shares of Light & Wonder by 3,861.1% in the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock valued at $63,000 after buying an additional 695 shares during the period. Blue Trust Inc. lifted its holdings in shares of Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock valued at $65,000 after buying an additional 474 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Light & Wonder in the first quarter worth about $71,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.