Light & Wonder, Inc. (NASDAQ:LNW – Get Rating) fell 6.9% on Wednesday . The stock traded as low as $44.97 and last traded at $44.98. 1,205,468 shares traded hands during trading, an increase of 55% from the average session volume of 779,948 shares. The stock had previously closed at $48.30.
Analyst Ratings Changes
Several research firms have recently weighed in on LNW. Susquehanna Bancshares lowered their price target on Light & Wonder from $55.00 to $47.00 in a report on Wednesday, August 10th. Credit Suisse Group decreased their target price on Light & Wonder from $49.00 to $47.00 and set an “underperform” rating on the stock in a report on Thursday, August 11th. Truist Financial decreased their target price on Light & Wonder from $85.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. Susquehanna decreased their target price on Light & Wonder from $55.00 to $47.00 in a report on Wednesday, August 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Light & Wonder from $53.00 to $48.00 in a report on Thursday, July 14th.
Light & Wonder Stock Down 6.7 %
The company has a market capitalization of $4.02 billion, a PE ratio of 1.11 and a beta of 1.69. The company has a current ratio of 1.39, a quick ratio of 1.29 and a debt-to-equity ratio of 4.01. The firm’s 50 day moving average is $50.73.
Insider Activity at Light & Wonder
In other news, major shareholder Fine Capital Partners, L.P. sold 40,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $52.15, for a total value of $2,086,000.00. Following the completion of the sale, the insider now owns 9,449,622 shares of the company’s stock, valued at approximately $492,797,787.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.40% of the stock is owned by corporate insiders.
Light & Wonder Company Profile
Light & Wonder, Inc develops technology-based products and services, and related content for the gaming, lottery, social and digital gaming industries in the United States and internationally. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; table products, including shufflers; and perpetual licenses to proprietary table games.
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