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

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have been given an average rating of “Moderate Buy” by the thirteen research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $107.36.

A number of research firms have issued reports on LNW. Maxim Group started coverage on Light & Wonder in a research report on Monday, August 26th. They issued a “buy” rating and a $144.00 target price on the stock. Macquarie decreased their price target on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. B. Riley began coverage on shares of Light & Wonder in a research note on Tuesday, October 8th. They issued a “buy” rating and a $120.00 price objective for the company. UBS Group raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, Craig Hallum upgraded Light & Wonder to a “strong-buy” rating in a research note on Friday, October 4th.

Light & Wonder Stock Performance

LNW opened at $93.41 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 0.59 and a beta of 1.71. Light & Wonder has a 12-month low of $76.52 and a 12-month high of $115.00. The business has a 50 day moving average of $95.62 and a 200-day moving average of $100.10.

Institutional Investors Weigh In On Light & Wonder

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Light & Wonder by 2.2% in the third quarter. State Street Corp now owns 2,651,627 shares of the company’s stock valued at $240,582,000 after purchasing an additional 56,890 shares during the last quarter. FMR LLC lifted its position in shares of Light & Wonder by 28.7% during the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock worth $131,745,000 after buying an additional 324,088 shares in the last quarter. Ninety One UK Ltd boosted its stake in shares of Light & Wonder by 128.0% in the 2nd quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after buying an additional 511,081 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Light & Wonder by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 802,922 shares of the company’s stock valued at $84,215,000 after acquiring an additional 12,317 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Light & Wonder by 573.3% during the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock valued at $60,761,000 after acquiring an additional 493,295 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.