Mizuho Cuts Light & Wonder (NASDAQ:LNW) Price Target to $79.00

Light & Wonder (NASDAQ:LNW - Free Report) had its target price reduced by Mizuho from $83.00 to $79.00 in a research report released on Thursday, Benzinga reports. Mizuho currently has an underperform rating on the stock.

A number of other equities analysts have also recently issued reports on LNW. Truist Financial lifted their target price on shares of Light & Wonder from $90.00 to $115.00 and gave the stock a buy rating in a research report on Wednesday, February 28th. Susquehanna raised their price target on Light & Wonder from $100.00 to $111.00 and gave the stock a positive rating in a research report on Wednesday, February 28th. Redburn Atlantic downgraded Light & Wonder from a buy rating to a neutral rating and upped their price objective for the company from $105.00 to $110.00 in a research report on Monday, March 11th. JPMorgan Chase & Co. lifted their price objective on Light & Wonder from $98.00 to $107.00 and gave the stock an overweight rating in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus restated a hold rating and issued a $103.00 target price (up from $97.00) on shares of Light & Wonder in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $96.42.

Light & Wonder Stock Performance

NASDAQ:LNW traded down $4.97 during mid-day trading on Thursday, reaching $91.55. The stock had a trading volume of 1,192,278 shares, compared to its average volume of 585,392. Light & Wonder has a twelve month low of $56.01 and a twelve month high of $108.90. The business has a 50 day simple moving average of $97.69 and a 200 day simple moving average of $88.39. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 51.30 and a beta of 1.80. The company has a debt-to-equity ratio of 5.04, a quick ratio of 1.63 and a current ratio of 1.88.

Light & Wonder (NASDAQ:LNW - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $0.73 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.03). Light & Wonder had a net margin of 5.58% and a return on equity of 23.68%. The business had revenue of $770.00 million during the quarter, compared to analyst estimates of $748.30 million. During the same period last year, the business posted $0.12 EPS. Light & Wonder's revenue was up 12.9% compared to the same quarter last year. On average, analysts expect that Light & Wonder will post 3.79 earnings per share for the current fiscal year.

Insider Transactions at Light & Wonder

In other Light & Wonder news, CFO Oliver Chow sold 1,273 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $101.19, for a total transaction of $128,814.87. Following the sale, the chief financial officer now owns 1,517 shares in the company, valued at $153,505.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Light & Wonder news, CFO Oliver Chow sold 1,273 shares of the business's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $101.19, for a total transaction of $128,814.87. Following the completion of the sale, the chief financial officer now owns 1,517 shares in the company, valued at $153,505.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Vanja Kalabic sold 1,149 shares of the firm's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $100.72, for a total transaction of $115,727.28. Following the completion of the transaction, the chief accounting officer now owns 1,600 shares in the company, valued at $161,152. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,537 shares of company stock valued at $760,427. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Light & Wonder

Hedge funds and other institutional investors have recently modified their holdings of the company. Entropy Technologies LP bought a new position in Light & Wonder in the 1st quarter worth approximately $773,000. ProShare Advisors LLC boosted its position in Light & Wonder by 3.9% during the 1st quarter. ProShare Advisors LLC now owns 20,642 shares of the company's stock worth $2,107,000 after acquiring an additional 777 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Light & Wonder by 3.9% in the first quarter. Russell Investments Group Ltd. now owns 43,414 shares of the company's stock worth $4,432,000 after purchasing an additional 1,636 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Light & Wonder by 33.0% during the first quarter. QRG Capital Management Inc. now owns 9,828 shares of the company's stock valued at $1,003,000 after purchasing an additional 2,437 shares during the period. Finally, Lisanti Capital Growth LLC bought a new stake in shares of Light & Wonder during the first quarter valued at about $3,975,000. Institutional investors and hedge funds own 88.08% of the company's stock.

Light & Wonder Company Profile

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.