Light & Wonder Inc.’s recently made public that its Director Korsanos Antonia acquired Company’s shares for reported $6402.0 on Aug 14. In the deal valued at $74.44 per share,86 shares were bought. As a result of this transaction, Korsanos Antonia now holds 86 shares worth roughly $ 6645.219999999999.
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Then, McLennan Hamish sold 25,500 shares, generating $1,657,500 in total proceeds. Upon selling the shares at $65.00, the Director now owns 9,750 shares.
Before that, Odell Jamie bought 5,000 shares. Light & Wonder Inc. shares valued at $294,500 were divested by the Director at a price of $58.90 per share. As a result of the transaction, Odell Jamie now holds 10,000 shares, worth roughly $0.77 million.
Redburn initiated its Light & Wonder Inc. [LNW] rating to a Buy in a research note published on Friday, August 22, 2023; the price target was $104. PT values the company’s stock at a premium of 25.7 to its Friday closing price.
Price Performance Review of LNW
On Friday, Light & Wonder Inc. [NASDAQ:LNW] saw its stock jump 0.78% to $77.27. On the same session, the stock had its day’s lowest price of $76.63, but rose to a high of $77.52. Over the last five days, the stock has gained 1.87%. Light & Wonder Inc. shares have risen nearly 31.86% since the year began. Nevertheless, the stocks have risen 56.96% over the past one year. While a 52-week high of $77.93 was reached on 08/29/23, a 52-week low of $40.10 was recorded on 03/15/23. SMA at 50 days reached $70.98, while 200 days put it at $64.10. A total of 0.41 million shares were traded, compared to the trading of 0.38 million shares in the previous session.
Levels Of Support And Resistance For LNW Stock
The 24-hour chart illustrates a support level at 76.76, which if violated will result in even more drops to 76.25. On the upside, there is a resistance level at 77.65. A further resistance level may holdings at 78.03. The Relative Strength Index (RSI) on the 14-day chart is 69.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.45, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 11.60%. Stochastics %K at 83.07% indicates the stock is a selling.
How much short interest is there in Light & Wonder Inc.?
A steep rise in short interest was recorded in Light & Wonder Inc. stocks on Aug 14, 2023, growing by 0.65 million shares to a total of 4.27 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.62 million shares. There was a rise of 15.22%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.91% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.7.
Light & Wonder Inc. [LNW] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 9,385,190 shares, or roughly 10.30% of the outstanding LNW shares. In other words, the investor’s shares have fallen by -357,752 from its previous 13-F filing of 9742942.0. Additionally, Fine Capital Partners LP decreased -1.32% of its stake after which the total value it holdings stand at $629,882,235, while The Vanguard Group, Inc. reduced -3.21% of its stake to hold $626.29 million in the firm. Over the last quarter, Caledonia sold -3,997,288 shares of Light & Wonder Inc., while Capital Research & Management Co sold 0 shares. At present, SSgA Funds Management, Inc. is holding 3,022,537 shares valued at $212.48 million. Harvard Management Co., Inc. owned 2,678,571 shares of the company at the time of its most recent 13F filing, worth $188.3 million.
According to FactSet, Light & Wonder Inc.’s share price will average $83.59 in the next year, based on opinions of analysts polled by the firm. This is up nearly 10.86 percent from its previous closing price of $76.67. Analysts expect Light & Wonder Inc. stock to reach the higher price of $104.00, while the lowest price estimate is $66.00. However, 11 analysts have rated LNW stock as an Overweight in their predictions for 2023.