Light & Wonder, Inc. (NASDAQ:LNW) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Light & Wonder, Inc. has received an average brokerage recommendation of "Hold", with a total of ten firms covering the stock: one sell, four hold, and five buy ratings.
• The company's 12-month price target from analysts is approximately $103.86, showing a range of adjusted targets from various brokerages.
• Recently, two directors of Light & Wonder made significant insider purchases, acquiring shares valued over $1.29 million combined, indicating confidence in the company's future performance.

Shares of Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) have been given an average recommendation of "Hold" by the ten ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $103.8571.

Several equities research analysts recently issued reports on the company. Macquarie reduced their price objective on Light & Wonder from $122.00 to $117.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. lowered shares of Light & Wonder from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $108.00 to $95.00 in a research report on Thursday, August 7th. Wall Street Zen lowered shares of Light & Wonder from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Jefferies Financial Group set a $116.00 target price on shares of Light & Wonder in a research report on Wednesday, June 25th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Light & Wonder in a research note on Wednesday.

Light & Wonder Stock Up 1.2%

Shares of NASDAQ:LNW opened at $80.96 on Thursday. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.51 and a current ratio of 1.77. The company has a market cap of $6.80 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 0.49 and a beta of 1.45. Light & Wonder has a 52 week low of $69.56 and a 52 week high of $113.94. The firm has a 50 day simple moving average of $88.03 and a 200 day simple moving average of $88.86.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.44 by $0.14. The business had revenue of $809.00 million during the quarter, compared to the consensus estimate of $851.29 million. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The firm's quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. As a group, research analysts expect that Light & Wonder will post 4.3 earnings per share for the current year.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, Director Antonia Korsanos purchased 8,065 shares of the business's stock in a transaction dated Sunday, August 10th. The shares were acquired at an average price of $80.05 per share, for a total transaction of $645,603.25. Following the acquisition, the director owned 22,815 shares of the company's stock, valued at $1,826,340.75. This trade represents a 54.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jamie Odell bought 8,275 shares of the business's stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $78.81 per share, for a total transaction of $652,152.75. Following the completion of the acquisition, the director owned 8,275 shares of the company's stock, valued at approximately $652,152.75. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 37,756 shares of company stock worth $3,209,088 over the last quarter. Company insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Light & Wonder

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its position in shares of Light & Wonder by 198.9% during the second quarter. IFP Advisors Inc now owns 269 shares of the company's stock valued at $26,000 after purchasing an additional 179 shares during the period. Employees Retirement System of Texas bought a new stake in Light & Wonder in the 2nd quarter valued at $29,000. Headlands Technologies LLC bought a new stake in Light & Wonder in the 2nd quarter valued at $38,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Light & Wonder by 118.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 437 shares of the company's stock valued at $42,000 after buying an additional 237 shares during the period. Finally, AlphaQuest LLC increased its stake in Light & Wonder by 41.8% in the second quarter. AlphaQuest LLC now owns 604 shares of the company's stock valued at $58,000 after acquiring an additional 178 shares during the period. 88.08% of the stock is currently owned by 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.

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