Light & Wonder, Inc. (NASDAQ:LNW) Receives $110.91 Consensus Target Price from Brokerages

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

LNW has been the topic of several research analyst reports. Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Macquarie upped their price target on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Mizuho lifted 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. Jefferies Financial Group increased their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th.

Light & Wonder Stock Down 10.3 %

LNW opened at $89.09 on Friday. Light & Wonder has a twelve month low of $84.00 and a twelve month high of $115.00. The company’s 50-day moving average price is $98.48 and its two-hundred day moving average price is $95.76. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 0.35 and a beta of 1.59. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Insider Activity at Light & Wonder

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

Institutional Investors Weigh In On Light & Wonder

A number of large investors have recently added to or reduced their stakes in LNW. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Light & Wonder by 2.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock valued at $387,000 after purchasing an additional 108 shares in the last quarter. Centaurus Financial Inc. boosted its position in Light & Wonder by 3.3% during the fourth quarter. Centaurus Financial Inc. now owns 3,350 shares of the company’s stock valued at $289,000 after buying an additional 108 shares during the period. Xponance Inc. grew its stake in shares of Light & Wonder by 0.7% during the fourth quarter. Xponance Inc. now owns 17,769 shares of the company’s stock valued at $1,535,000 after buying an additional 120 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Light & Wonder by 2.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock worth $510,000 after buying an additional 146 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of Light & Wonder by 0.5% in the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company’s stock valued at $3,477,000 after acquiring an additional 200 shares during the last quarter. 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.