Light & Wonder (NASDAQ:LNW) Sets New 52-Week High After Analyst Upgrade

Light & Wonder, Inc. (NASDAQ:LNW)’s stock price hit a new 52-week high during trading on Monday after TheStreet upgraded the stock from a c rating to a b rating. The company traded as high as $87.30 and last traded at $87.30, with a volume of 169 shares. The stock had previously closed at $86.82.

Other equities research analysts also recently issued reports about the stock. Susquehanna lifted their price target on shares of Light & Wonder from $81.00 to $86.00 and gave the company a “positive” rating in a research note on Wednesday, August 9th. Truist Financial upped their price objective on shares of Light & Wonder from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday. Redburn Partners started coverage on shares of Light & Wonder in a research note on Tuesday, August 22nd. They issued a “buy” rating and a $104.00 target price on the stock. B. Riley upped their price target on shares of Light & Wonder from $59.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday, August 10th. Finally, Jefferies Financial Group upped their price target on shares of Light & Wonder from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, September 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $77.90.

Insider Transactions at Light & Wonder

In related news, Director Maria T. Vullo sold 2,093 shares of the stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $76.80, for a total transaction of $160,742.40. Following the transaction, the director now owns 10,789 shares of the company’s stock, valued at approximately $828,595.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Light & Wonder news, Director Maria T. Vullo sold 2,093 shares of the stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $76.80, for a total transaction of $160,742.40. Following the completion of the sale, the director now owns 10,789 shares of the company’s stock, valued at approximately $828,595.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Vanja Kalabic sold 588 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $86.36, for a total transaction of $50,779.68. Following the sale, the chief accounting officer now directly owns 1,171 shares of the company’s stock, valued at approximately $101,127.56. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. bought a new stake in Light & Wonder during the 3rd quarter valued at about $389,375,000. State Street Corp bought a new position in shares of Light & Wonder in the third quarter worth approximately $128,003,000. Norges Bank bought a new position in shares of Light & Wonder in the fourth quarter worth approximately $87,241,000. Alliancebernstein L.P. bought a new position in shares of Light & Wonder in the third quarter worth approximately $36,277,000. Finally, Balyasny Asset Management L.P. boosted its position in shares of Light & Wonder by 3,232.2% during the first quarter. Balyasny Asset Management L.P. now owns 522,860 shares of the company’s stock worth $31,398,000 after acquiring an additional 507,169 shares during the last quarter. 85.98% of the stock is owned by hedge funds and other institutional investors.

Light & Wonder Trading Down 0.4 %

The company has a debt-to-equity ratio of 3.36, a current ratio of 2.78 and a quick ratio of 2.48. The stock’s 50-day moving average is $75.04 and its two-hundred day moving average is $69.97. The stock has a market cap of $7.90 billion, a P/E ratio of 64.06 and a beta of 1.82.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.42 by $0.39. Light & Wonder had a net margin of 4.48% and a return on equity of 17.11%. The business had revenue of $731.00 million during the quarter, compared to analyst estimates of $714.92 million. Equities research analysts anticipate that Light & Wonder, Inc. will post 1.09 EPS for the current year.

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.