Light & Wonder, Inc. (NASDAQ:LNW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Light & Wonder, Inc. (NASDAQ:LNW) has been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $107.36.

Several equities analysts recently weighed in on LNW shares. Macquarie dropped their price target on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Truist Financial dropped their price target on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Susquehanna dropped their price target on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, UBS Group raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 25th.

Institutional Investors Weigh In On Light & Wonder

A number of hedge funds have recently modified their holdings of LNW. Russell Investments Group Ltd. raised its holdings in shares of Light & Wonder by 3.9% in the 1st quarter. Russell Investments Group Ltd. now owns 43,414 shares of the company’s stock worth $4,432,000 after purchasing an additional 1,636 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Light & Wonder in the 1st quarter worth approximately $483,000. Cynosure Group LLC purchased a new position in Light & Wonder in the 1st quarter valued at approximately $310,000. O Shaughnessy Asset Management LLC grew its stake in Light & Wonder by 5.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,321 shares of the company’s stock valued at $441,000 after buying an additional 242 shares in the last quarter. Finally, Capitolis Liquid Global Markets LLC grew its stake in Light & Wonder by 15.5% in the 1st quarter. Capitolis Liquid Global Markets LLC now owns 365,000 shares of the company’s stock valued at $37,263,000 after buying an additional 49,000 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Performance

Shares of LNW opened at $96.42 on Monday. Light & Wonder has a one year low of $76.52 and a one year high of $115.00. The company has a market cap of $8.51 billion, a PE ratio of 29.94, a P/E/G ratio of 0.50 and a beta of 1.75. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. The stock has a 50-day moving average of $96.53 and a 200-day moving average of $99.88.

Light & Wonder announced that its board has approved a share repurchase program on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

About Light & Wonder

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.