Light & Wonder, Inc. (NASDAQ:LNW) Receives $109.55 Average Price Target from Analysts

Shares of Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $106.82.

A number of equities analysts recently commented on the company. Macquarie dropped their price target on Light & Wonder from $125.00 to $120.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Citigroup upgraded Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, February 19th. Mizuho lifted their target price on Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their target price on Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus lifted their target price on Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a report on Thursday, May 8th.

Light & Wonder Stock Performance

Light & Wonder stock traded down $0.19 during mid-day trading on Monday, reaching $83.39. 44,796 shares of the stock traded hands, compared to its average volume of 805,715. The stock has a market capitalization of $7.04 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30. 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 has a 12-month low of $75.46 and a 12-month high of $115.00. The business's 50-day moving average is $89.08 and its 200-day moving average is $92.25.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its quarterly 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). The company had revenue of $774.00 million during the quarter, compared to analysts' expectations of $802.93 million. Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. As a group, sell-side analysts predict that Light & Wonder will post 4.3 EPS for the current fiscal year.

Insider Buying and Selling at Light & Wonder

In other news, CEO Siobhan Lane sold 3,784 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.37, for a total value of $398,720.08. Following the sale, the chief executive officer now owns 21,254 shares in the company, valued at $2,239,533.98. This represents a 15.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Vanja Kalabic sold 1,132 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was 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 in the company, valued at $523,720.56. The trade was a 18.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,867 shares of company stock worth $1,037,884. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Light & Wonder

A number of hedge funds have recently modified their holdings of LNW. Bessemer Group Inc. boosted its stake in shares of Light & Wonder by 321.7% in the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company's stock worth $136,152,000 after buying an additional 1,199,213 shares during the last quarter. Norges Bank purchased a new position in shares of Light & Wonder in the fourth quarter valued at approximately $91,683,000. Park West Asset Management LLC purchased a new position in shares of Light & Wonder in the fourth quarter valued at approximately $46,241,000. Ninety One UK Ltd lifted its position in shares of Light & Wonder by 56.7% in the first quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company's stock valued at $101,728,000 after acquiring an additional 425,202 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Light & Wonder in the first quarter valued at approximately $32,843,000. Hedge funds and other institutional investors own 88.08% of the company's stock.

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.