Light & Wonder (NASDAQ:LNW) Shares Gap Up - What's Next?

Shares of Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $86.01, but opened at $90.63. Light & Wonder shares last traded at $91.51, with a volume of 208,383 shares.

Analyst Upgrades and Downgrades

Several brokerages have commented on LNW. Mizuho upped their target price on shares of Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a research note on Thursday, May 8th. Benchmark lowered their target price on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, May 12th. JPMorgan Chase & Co. upped their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Macquarie lowered 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 lowered their target price on Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $106.82.

Light & Wonder Trading Down 0.2%

The firm's 50-day moving average price is $85.88 and its 200-day moving average price is $91.53. The company has a market cap of $7.73 billion, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

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 the consensus estimate of $802.93 million. Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. Light & Wonder's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 EPS. As a group, equities research analysts expect that Light & Wonder, Inc. will post 4.3 earnings per share for the current fiscal year.

Insider Activity at Light & Wonder

In other news, CEO Siobhan Lane sold 3,784 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total transaction of $398,720.08. Following the completion of the transaction, the chief executive officer now directly owns 21,254 shares of the company's stock, valued at $2,239,533.98. The trade was a 15.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James Sottile sold 2,356 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the completion of the transaction, the vice president now directly owns 77,331 shares in the company, valued at $8,161,513.74. This trade represents a 2.96% 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 valued at $1,037,884. Insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Light & Wonder

A number of hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc grew its holdings in shares of Light & Wonder by 4,783.3% in the first quarter. Versant Capital Management Inc now owns 293 shares of the company's stock worth $25,000 after purchasing an additional 287 shares during the last quarter. R Squared Ltd bought a new position in shares of Light & Wonder in the fourth quarter worth about $35,000. Farther Finance Advisors LLC grew its holdings in shares of Light & Wonder by 3,861.1% in the first quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock worth $63,000 after purchasing an additional 695 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Light & Wonder by 194.3% in the fourth quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after purchasing an additional 474 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Light & Wonder in the first quarter worth about $71,000. 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.