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

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $96.75.

A number of brokerages recently weighed in on LNW. Macquarie upped their target price on shares of Light & Wonder from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Susquehanna raised their price objective on Light & Wonder from $100.00 to $111.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Mizuho started coverage on Light & Wonder in a research report on Tuesday, March 26th. They issued an “underperform” rating and a $83.00 target price on the stock. 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 report on Thursday, March 14th. Finally, Truist Financial lifted their price objective on Light & Wonder from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th.

Light & Wonder Stock Performance

Shares of LNW opened at $92.96 on Thursday. Light & Wonder has a 52 week low of $56.01 and a 52 week high of $108.90. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.04. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 52.82 and a beta of 1.80. The business has a 50-day simple moving average of $97.68 and a two-hundred day simple moving average of $87.85.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Light & Wonder during the 4th quarter valued at approximately $124,523,000. Goldman Sachs Group Inc. increased its position in shares of Light & Wonder by 95.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock valued at $73,601,000 after acquiring an additional 438,443 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Light & Wonder by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,251,206 shares of the company’s stock worth $89,249,000 after acquiring an additional 231,631 shares during the last quarter. Moody Aldrich Partners LLC acquired a new stake in Light & Wonder during the 4th quarter worth about $6,848,000. Finally, Barclays PLC grew its stake in Light & Wonder by 95.8% during the 3rd quarter. Barclays PLC now owns 168,548 shares of the company’s stock valued at $12,021,000 after purchasing an additional 82,460 shares during the last quarter. 88.08% of the stock is 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.