Light & Wonder (NASDAQ:LNW) Given New $88.00 Price Target at Jefferies Financial Group

Light & Wonder (NASDAQ:LNW) had its price objective upped by Jefferies Financial Group from $84.00 to $88.00 in a report released on Monday morning, Marketbeat.com reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other analysts have also issued reports on LNW. Truist Financial raised their price target on Light & Wonder from $78.00 to $86.00 and gave the stock a buy rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price target on Light & Wonder from $56.00 to $66.00 in a research note on Thursday, August 10th. B. Riley raised their price target on Light & Wonder from $59.00 to $67.00 and gave the stock a neutral rating in a research note on Thursday, August 10th. SpectralCast reissued a reiterates rating on shares of Light & Wonder in a research note on Tuesday, June 27th. Finally, Susquehanna raised their price target on Light & Wonder from $81.00 to $86.00 and gave the stock a positive rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $74.73.

Light & Wonder Stock Up 1.5 %

LNW opened at $77.58 on Monday. The company has a quick ratio of 2.69, a current ratio of 3.01 and a debt-to-equity ratio of 3.14. The firm has a market cap of $7.09 billion, a P/E ratio of 19.59 and a beta of 1.84. Light & Wonder has a 52 week low of $40.10 and a 52 week high of $78.64. The business’s fifty day simple moving average is $71.83 and its 200 day simple moving average is $65.01.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.69. The business had revenue of $731.00 million for the quarter, compared to analyst estimates of $674.33 million. Light & Wonder had a return on equity of 11.65% and a net margin of 13.88%. As a group, equities research analysts anticipate that Light & Wonder will post 0.95 EPS for the current fiscal year.

Insider Activity

In related news, Director Hamish Mclennan sold 25,500 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $65.00, for a total transaction of $1,657,500.00. Following the sale, the director now directly owns 9,750 shares in the company, valued at approximately $633,750. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Light & Wonder

Hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its holdings in shares of Light & Wonder by 338.0% during the 4th quarter. Quadrant Capital Group LLC now owns 438 shares of the company’s stock valued at $26,000 after buying an additional 338 shares during the period. State of Wyoming purchased a new stake in Light & Wonder during the 2nd quarter worth approximately $33,000. US Bancorp DE increased its holdings in Light & Wonder by 28.3% during the 1st quarter. US Bancorp DE now owns 1,001 shares of the company’s stock worth $60,000 after purchasing an additional 221 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in Light & Wonder during the 3rd quarter worth approximately $124,000. Finally, Amundi purchased a new stake in Light & Wonder during the 4th quarter worth approximately $157,000. 85.98% of the stock is currently owned by hedge funds and other institutional investors.

About Light & Wonder

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. It operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; table products, including shufflers; and perpetual licenses to gaming operators.