Light & Wonder (NASDAQ:LNW) Shares Gap Down - Time to Sell?

Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $90.12, but opened at $88.00. Light & Wonder shares last traded at $85.81, with a volume of 188,145 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LNW. Stifel Nicolaus lifted their price objective on Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Benchmark cut their price target on Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a report on Monday, May 12th. Mizuho increased their price objective on Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a research note on Thursday, May 8th. Macquarie cut their target price on shares of Light & Wonder from $125.00 to $120.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Finally, Truist Financial decreased their price target on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Light & Wonder has an average rating of "Moderate Buy" and a consensus price target of $106.82.

Light & Wonder Trading Up 1.4%

The stock has a market capitalization of $7.34 billion, a PE ratio of 27.02, a PEG ratio of 0.35 and a beta of 1.23. The business's 50-day moving average is $84.46 and its two-hundred day moving average is $91.17. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). Light & Wonder had a net margin of 9.30% and a return on equity of 49.91%. The company had revenue of $774.00 million during the quarter, compared to analyst estimates of $802.93 million. During the same quarter last year, the company posted $0.88 EPS. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts predict that Light & Wonder, Inc. will post 4.3 earnings per share for the current year.

Institutional Investors Weigh In On Light & Wonder

Several large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its stake in Light & Wonder by 4,783.3% during the 1st quarter. Versant Capital Management Inc now owns 293 shares of the company's stock valued at $25,000 after purchasing an additional 287 shares during the period. Farther Finance Advisors LLC increased its position in Light & Wonder by 3,861.1% in the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock valued at $63,000 after acquiring an additional 695 shares during the period. Blue Trust Inc. raised its stake in Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock valued at $65,000 after acquiring an additional 474 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Light & Wonder in the first quarter worth $71,000. Finally, CX Institutional acquired a new stake in Light & Wonder in the first quarter worth about $87,000. 88.08% of the stock is owned by institutional investors and hedge funds.

About Light & Wonder

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.