Stifel Nicolaus Has Lowered Expectations for Light & Wonder (NASDAQ:LNW) Stock Price

Light & Wonder (NASDAQ:LNW) had its target price cut by equities researchers at Stifel Nicolaus from $104.00 to $93.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 16.57% from the stock’s previous close.

A number of other brokerages have also weighed in on LNW. Mizuho upped their price objective on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. Macquarie upped their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Benchmark raised their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $109.91.

Light & Wonder Stock Performance

Shares of LNW opened at $79.78 on Thursday. The stock has a market capitalization of $6.74 billion, a P/E ratio of 24.78, a P/E/G ratio of 0.35 and a beta of 1.59. Light & Wonder has a 1 year low of $75.46 and a 1 year high of $115.00. The company’s fifty day moving average is $98.14 and its two-hundred day moving average is $95.01. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88.

Insider Buying and Selling at Light & Wonder

In other news, CFO Oliver Chow sold 2,595 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $104.94, for a total value of $272,319.30. Following the transaction, the chief financial officer now directly owns 3,695 shares in the company, valued at $387,753.30. This trade represents a 41.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $118,192.12. Following the sale, the chief accounting officer now owns 5,016 shares of the company’s stock, valued at $523,720.56. The trade was a 18.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock worth $1,037,884 in the last 90 days. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its stake in shares of Light & Wonder by 4,783.3% in the 1st quarter. Versant Capital Management Inc now owns 293 shares of the company’s stock valued at $25,000 after acquiring an additional 287 shares during the period. R Squared Ltd purchased a new position in Light & Wonder in the fourth quarter valued at about $35,000. Quarry LP purchased a new position in Light & Wonder in the third quarter valued at about $51,000. Blue Trust Inc. lifted its stake in shares of Light & Wonder by 194.3% during the fourth quarter. Blue Trust Inc. now owns 718 shares of the company’s stock worth $65,000 after purchasing an additional 474 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Light & Wonder in the third quarter worth about $104,000. 88.08% of the stock is owned by institutional investors and hedge funds.

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.