Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) shares shot up 3.7% during mid-day trading on Friday . The stock traded as high as $85.00 and last traded at $85.03. 266,575 shares changed hands during trading, a decline of 67% from the average session volume of 809,910 shares. The stock had previously closed at $82.01.
Analyst Ratings Changes
Several brokerages recently issued reports on LNW. Macquarie reduced their price objective on Light & Wonder from $125.00 to $120.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. raised their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Stifel Nicolaus raised their target price on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, Truist Financial cut their target price on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $106.82.
View Our Latest Research Report on LNW
Light & Wonder Trading Up 0.3%
The firm has a market capitalization of $7.75 billion, a P/E ratio of 28.51, a PEG ratio of 0.35 and a beta of 1.30. The business's 50 day moving average is $86.11 and its two-hundred day moving average is $91.53. 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 released 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). Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. The company had revenue of $774.00 million for the quarter, compared to the consensus estimate of $802.93 million. During the same quarter last year, the firm posted $0.88 earnings per share. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. Analysts expect that Light & Wonder, Inc. will post 4.3 EPS for the current year.
Insiders Place Their Bets
In related news, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following the transaction, the vice president now directly owns 77,331 shares in the company, valued at $8,161,513.74. The trade was a 2.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Vanja Kalabic sold 1,132 shares of the business'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 sale, the chief accounting officer now owns 5,016 shares in the company, valued at approximately $523,720.56. The trade was a 18.41% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,867 shares of company stock worth $1,037,884. 2.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Light & Wonder
Several hedge funds have recently made changes to their positions in LNW. Versant Capital Management Inc raised 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. R Squared Ltd purchased a new position in shares of Light & Wonder during the fourth quarter valued at $35,000. Farther Finance Advisors LLC raised its position in Light & Wonder by 3,861.1% during the first quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock valued at $63,000 after buying an additional 695 shares during the period. Blue Trust Inc. lifted its stake in Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after acquiring an additional 474 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Light & Wonder in the 1st quarter worth about $71,000. Hedge funds and other institutional investors own 88.08% of the company's stock.
About Light & Wonder
(
Get Free Report)
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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