Brokerages Set Light & Wonder, Inc. (NASDAQ:LNW) Target Price at $96.75

Light & Wonder, Inc. (NASDAQ:LNW) has received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $96.75.

Several brokerages have recently weighed in on LNW. Truist Financial boosted their price objective 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. JPMorgan Chase & Co. upped their price objective on shares of Light & Wonder from $98.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Mizuho started coverage on Light & Wonder in a report on Tuesday, March 26th. They set an “underperform” rating and a $83.00 price objective on the stock. Benchmark started coverage on Light & Wonder in a report on Tuesday, January 16th. They issued a “buy” rating and a $92.00 target price for the company. Finally, Stifel Nicolaus restated a “hold” rating and set a $103.00 price target (up previously from $97.00) on shares of Light & Wonder in a research note on Thursday, March 14th.

Light & Wonder Stock Up 1.9 %

Shares of NASDAQ LNW opened at $92.96 on Thursday. The business has a 50-day moving average of $97.68 and a two-hundred day moving average of $87.85. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 52.82 and a beta of 1.80. Light & Wonder has a 1 year low of $56.01 and a 1 year high of $108.90. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.88 and a quick ratio of 1.63.

Light & Wonder (NASDAQ:LNW) last issued its earnings results on Tuesday, February 27th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.03). The business had revenue of $770.00 million for the quarter, compared to analyst estimates of $748.30 million. Light & Wonder had a return on equity of 23.68% and a net margin of 5.58%. Light & Wonder’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. On average, analysts forecast that Light & Wonder will post 3.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Siobhan Lane sold 3,566 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $100.73, for a total value of $359,203.18. Following the transaction, the chief executive officer now owns 11,302 shares of the company’s stock, valued at $1,138,450.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Siobhan Lane sold 3,566 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $100.73, for a total transaction of $359,203.18. Following the completion of the sale, the chief executive officer now directly owns 11,302 shares of the company’s stock, valued at $1,138,450.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP James Sottile sold 1,549 shares of Light & Wonder stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $101.15, for a total transaction of $156,681.35. Following the completion of the transaction, the vice president now owns 57,478 shares in the company, valued at $5,813,899.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,537 shares of company stock valued at $760,427. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new stake in shares of Light & Wonder in the first quarter valued at approximately $38,000. BNP Paribas Financial Markets lifted its holdings in Light & Wonder by 114.0% in the first quarter. BNP Paribas Financial Markets now owns 91,304 shares of the company’s stock valued at $9,321,000 after acquiring an additional 48,629 shares during the period. Retirement Systems of Alabama boosted its position in shares of Light & Wonder by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 113,077 shares of the company’s stock worth $11,544,000 after purchasing an additional 298 shares in the last quarter. SpiderRock Advisors LLC purchased a new stake in shares of Light & Wonder during the 1st quarter worth $436,000. Finally, Principal Financial Group Inc. grew its stake in shares of Light & Wonder by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 342,710 shares of the company’s stock worth $34,987,000 after purchasing an additional 6,695 shares during the period. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.