JPMorgan Chase & Co. Issues Positive Forecast for Light & Wonder (NASDAQ:LNW) Stock Price

Light & Wonder (NASDAQ:LNW) had its price objective raised by research analysts at JPMorgan Chase & Co. from $103.00 to $110.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 0.59% from the company’s previous close.

Several other analysts also recently commented on LNW. Benchmark reissued a “buy” rating and issued a $114.00 target price on shares of Light & Wonder in a research report on Wednesday, February 19th. Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. 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. Stifel Nicolaus boosted their price target on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. Finally, Macquarie increased their price objective on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $109.50.

Light & Wonder Stock Up 1.9 %

Shares of Light & Wonder stock opened at $110.65 on Wednesday. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 34.36, a P/E/G ratio of 0.35 and a beta of 1.72. The stock has a 50-day simple moving average of $91.03 and a 200-day simple moving average of $96.18. Light & Wonder has a 52-week low of $84.00 and a 52-week high of $115.00. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Light & Wonder by 2.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock worth $387,000 after acquiring an additional 108 shares during the last quarter. Xponance Inc. boosted its holdings in Light & Wonder by 0.7% in the 4th quarter. Xponance Inc. now owns 17,769 shares of the company’s stock valued at $1,535,000 after purchasing an additional 120 shares during the period. CIBC Asset Management Inc grew its position in Light & Wonder by 2.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock worth $510,000 after purchasing an additional 146 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Light & Wonder by 0.5% during the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company’s stock worth $3,477,000 after purchasing an additional 200 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Light & Wonder by 6.8% during the fourth quarter. ProShare Advisors LLC now owns 4,131 shares of the company’s stock valued at $357,000 after buying an additional 263 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.