Light & Wonder (NASDAQ:LNW) Upgraded to Buy at Citigroup

Citigroup upgraded shares of Light & Wonder (NASDAQ:LNW) from a neutral rating to a buy rating in a research report report published on Wednesday morning, MarketBeat Ratings reports.

Several other research analysts have also recently weighed in on the stock. Benchmark restated a “buy” rating and issued a $114.00 price objective on shares of Light & Wonder in a research report on Wednesday. Jefferies Financial Group upped their price target on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Stifel Nicolaus raised their price target on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Truist Financial reduced their target price on Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Light & Wonder currently has an average rating of “Moderate Buy” and an average price target of $109.25.

Light & Wonder Price Performance

Shares of NASDAQ:LNW opened at $105.99 on Wednesday. The company has a 50 day moving average of $89.24 and a 200 day moving average of $95.97. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. Light & Wonder has a 12 month low of $84.00 and a 12 month high of $115.00. The stock has a market cap of $9.36 billion, a P/E ratio of 32.92, a P/E/G ratio of 0.33 and a beta of 1.72.

Institutional Investors Weigh In On Light & Wonder

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in Light & Wonder in the third quarter valued at about $108,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Light & Wonder during the 3rd quarter valued at $420,000. State of Alaska Department of Revenue boosted its holdings in Light & Wonder by 5.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 10,305 shares of the company’s stock worth $934,000 after buying an additional 535 shares during the period. New York State Teachers Retirement System lifted its holdings in Light & Wonder by 0.9% in the 3rd quarter. New York State Teachers Retirement System now owns 84,365 shares of the company’s stock worth $7,654,000 after purchasing an additional 719 shares in the last quarter. Finally, Iridian Asset Management LLC CT increased its holdings in Light & Wonder by 12.1% in the 3rd quarter. Iridian Asset Management LLC CT now owns 51,571 shares of the company’s stock valued at $4,679,000 after acquiring an additional 5,570 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Light & Wonder Company Profile

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.