Light & Wonder, Inc. (NASDAQ:LNW) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $108.10.

LNW has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded Light & Wonder from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $108.00 to $95.00 in a research note on Thursday, August 7th. Stifel Nicolaus upped their target price on Light & Wonder from $84.00 to $95.00 and gave the company a “hold” rating in a research report on Thursday, May 8th. Jefferies Financial Group set a $116.00 target price on Light & Wonder in a research note on Wednesday, June 25th. Wall Street Zen lowered shares of Light & Wonder from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Finally, Benchmark reduced their price objective on shares of Light & Wonder from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, August 8th.

Insider Transactions at Light & Wonder

In other Light & Wonder news, Director Hamish Mclennan purchased 1,380 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average cost of $87.61 per share, with a total value of $120,901.80. Following the acquisition, the director owned 6,380 shares of the company’s stock, valued at approximately $558,951.80. This represents a 27.60% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy Throsby acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average price of $89.37 per share, for a total transaction of $1,787,400.00. Following the purchase, the director owned 42,082 shares of the company’s stock, valued at $3,760,868.34. This trade represents a 90.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 37,756 shares of company stock valued at $3,209,088 over the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Trading of Light & Wonder

Several hedge funds have recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. lifted its holdings in Light & Wonder by 3.7% in the second quarter. Burgundy Asset Management Ltd. now owns 1,632,562 shares of the company’s stock worth $157,150,000 after purchasing an additional 57,973 shares during the period. Bessemer Group Inc. increased its stake in shares of Light & Wonder by 321.7% during the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company’s stock valued at $136,152,000 after acquiring an additional 1,199,213 shares during the period. Ninety One UK Ltd raised its stake in shares of Light & Wonder by 56.7% in the 1st quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company’s stock worth $101,728,000 after buying an additional 425,202 shares in the last quarter. Norges Bank bought a new position in Light & Wonder during the second quarter valued at about $99,368,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Light & Wonder by 0.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 901,778 shares of the company’s stock worth $78,104,000 after acquiring an additional 3,472 shares during the period. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Trading Up 3.6%

Shares of LNW opened at $91.40 on Wednesday. Light & Wonder has a fifty-two week low of $69.56 and a fifty-two week high of $115.00. The company has a market capitalization of $7.67 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 0.53 and a beta of 1.21. The stock has a fifty day moving average of $92.73 and a two-hundred day moving average of $92.00. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.51 and a current ratio of 1.77.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.14. The company had revenue of $809.00 million for the quarter, compared to the consensus estimate of $851.29 million. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. Light & Wonder’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. As a group, analysts forecast that Light & Wonder will post 4.3 EPS for the current year.

About Light & Wonder

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.