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

Light & Wonder, Inc. (NASDAQ:LNW) has been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $110.91.

Several brokerages recently weighed in on LNW. Stifel Nicolaus boosted their target price on shares of Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. Benchmark boosted their price objective on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Mizuho raised their target price on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. Jefferies Financial Group boosted their price target on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised their price objective on Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th.

Insider Transactions at Light & Wonder

In other Light & Wonder news, CAO Vanja Kalabic sold 1,132 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $104.41, for a total transaction of $118,192.12. Following the transaction, the chief accounting officer now owns 5,016 shares in the company, valued at $523,720.56. The trade was a 18.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Siobhan Lane sold 3,784 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.37, for a total value of $398,720.08. Following the completion of the sale, the chief executive officer now directly owns 21,254 shares of the company’s stock, valued at $2,239,533.98. The trade was a 15.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Light & Wonder

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quest Partners LLC purchased a new position in Light & Wonder in the 3rd quarter valued at about $337,000. Commerce Bank increased its position in shares of Light & Wonder by 10.5% during the third quarter. Commerce Bank now owns 30,396 shares of the company’s stock worth $2,758,000 after acquiring an additional 2,887 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Light & Wonder in the third quarter worth about $764,000. Cerity Partners LLC boosted its holdings in Light & Wonder by 222.1% in the third quarter. Cerity Partners LLC now owns 13,042 shares of the company’s stock valued at $1,183,000 after purchasing an additional 8,993 shares during the last quarter. Finally, Algert Global LLC grew its stake in Light & Wonder by 118.5% during the 3rd quarter. Algert Global LLC now owns 61,606 shares of the company’s stock valued at $5,590,000 after purchasing an additional 33,410 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Stock Performance

NASDAQ LNW opened at $103.67 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. Light & Wonder has a fifty-two week low of $84.00 and a fifty-two week high of $115.00. The business has a fifty day moving average of $97.11 and a 200-day moving average of $95.93. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59.

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.