Benchmark Reaffirms Buy Rating for Light & Wonder (NASDAQ:LNW)

Light & Wonder (NASDAQ:LNW)‘s stock had its “buy” rating reissued by stock analysts at Benchmark in a research note issued on Wednesday,Benzinga reports. They currently have a $114.00 target price on the stock. Benchmark’s price target indicates a potential upside of 8.69% from the company’s previous close.

A number of other analysts have also recently commented on the company. Jefferies Financial Group upped their price target on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Truist Financial lowered their price target on Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.25.

Light & Wonder Stock Performance

Shares of NASDAQ:LNW opened at $104.89 on Wednesday. The stock has a market capitalization of $9.26 billion, a P/E ratio of 32.57, a P/E/G ratio of 0.34 and a beta of 1.72. Light & Wonder has a 1-year low of $84.00 and a 1-year high of $115.00. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. The business has a 50-day moving average price of $89.47 and a two-hundred day moving average price of $96.04.

Hedge Funds Weigh In On Light & Wonder

Institutional investors and hedge funds have recently modified their holdings of the business. True Wealth Design LLC acquired a new position in Light & Wonder during the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP acquired a new position in Light & Wonder during the 3rd quarter worth approximately $29,000. R Squared Ltd acquired a new position in Light & Wonder during the 4th quarter worth approximately $35,000. Quarry LP acquired a new position in Light & Wonder during the 3rd quarter worth approximately $51,000. Finally, Blue Trust Inc. boosted its position in Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company’s stock worth $65,000 after acquiring an additional 474 shares during the last quarter. 88.08% of the stock is currently 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.