Stifel Nicolaus Forecasts Strong Price Appreciation for Light & Wonder (NASDAQ:LNW) Stock

Light & Wonder (NASDAQ:LNW) had its price target increased by stock analysts at Stifel Nicolaus from $90.00 to $104.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential downside of 0.85% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Jefferies Financial Group lifted their target price on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Truist Financial decreased their price objective on Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Benchmark restated a “buy” rating and set a $114.00 price objective on shares of Light & Wonder in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Light & Wonder presently has a consensus rating of “Moderate Buy” and an average price target of $109.25.

Light & Wonder Trading Down 1.0 %

Shares of LNW stock opened at $104.89 on Wednesday. The company has a market cap of $9.26 billion, a P/E ratio of 32.57, a PEG ratio of 0.34 and a beta of 1.72. The stock has a 50 day simple moving average of $89.47 and a two-hundred day simple moving average of $96.04. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. Light & Wonder has a fifty-two week low of $84.00 and a fifty-two week high of $115.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Light & Wonder by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock valued at $733,584,000 after buying an additional 100,527 shares during the last quarter. State Street Corp boosted its position in shares of Light & Wonder by 2.2% during the third quarter. State Street Corp now owns 2,651,627 shares of the company’s stock valued at $240,582,000 after buying an additional 56,890 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in Light & Wonder by 2.0% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company’s stock worth $127,198,000 after purchasing an additional 28,358 shares during the last quarter. FMR LLC boosted its position in Light & Wonder by 28.7% in the third quarter. FMR LLC now owns 1,452,052 shares of the company’s stock worth $131,745,000 after purchasing an additional 324,088 shares during the last quarter. Finally, Norges Bank purchased a new position in Light & Wonder in the fourth quarter worth $91,683,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.