The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Light & Wonder Inc shares valued at $915,343 were sold by Wilson Matthew R. on Mar 07 ’24. At $101.21 per share, Wilson Matthew R. sold 9,044 shares. The insider’s holdings dropped to 125,940 shares worth approximately $11.09 million following the completion of this transaction.
Also, Lane Siobhan sold 3,566 shares, netting a total of over 359,203 in proceeds. Following the sale of shares at $100.73 each, the insider now holds 11,302 shares.
Before that, Sottile James had sold 1,549 shares from its account. In a trade valued at $156,681, the Exec VP, CLO & Corp Sec traded Light & Wonder Inc shares for $101.15 each. Upon closing the transaction, the insider’s holdings decreased to 1,549 shares, worth approximately $5.06 million.
As published in their initiating research note from Mizuho on March 26, 2024, Light & Wonder Inc [LNW] has been an Underperform and the price target has been revised to $83. Analysts at Redburn Atlantic downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid March. As of January 30, 2024, JP Morgan has initiated its “an Overweight” rating for LNW. Earlier on January 16, 2024, The Benchmark Company initiated its rating. Their recommendation was “a Buy” for LNW stock.
Analyzing LNW Stock Performance
During the last five days, there has been a drop of approximately -8.07%. Over the course of the year, Light & Wonder Inc shares have jumped approximately 7.25%. Shares of the company reached a 52-week high of $108.90 on 03/22/24 and a 52-week low of $76.52 on 01/09/24. A 50-day SMA is recorded $96.72, while a 200-day SMA reached $82.05. Nevertheless, trading volume fell to 0.65 million shares from 0.69 million shares the previous day.
Support And Resistance Levels for Light & Wonder Inc (LNW)
According to the 24-hour chart, there is a support level at 87.46, which, if violated, would cause prices to drop to 86.85. In the upper region, resistance lies at 89.22. The next price resistance is at 90.38. RSI (Relative Strength Index) is 27.65 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.35, which suggests the price will decrease in the coming days. Percent R is at 99.29%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
