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

Light & Wonder, Inc. (NASDAQ:LNW) has been given an average recommendation of “Moderate Buy” by the thirteen research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $107.36.

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a research report on Wednesday, September 25th. Susquehanna decreased their price target on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Macquarie lowered their price objective on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. UBS Group raised Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 25th. Finally, B. Riley started coverage on Light & Wonder in a report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 price target for the company.

Light & Wonder Stock Up 0.2 %

Shares of NASDAQ:LNW opened at $86.09 on Tuesday. Light & Wonder has a fifty-two week low of $76.52 and a fifty-two week high of $115.00. The firm’s 50 day moving average price is $93.10 and its 200 day moving average price is $99.06. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 0.55 and a beta of 1.73.

Hedge Funds Weigh In On Light & Wonder

Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its stake in shares of Light & Wonder by 573.3% during the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after acquiring an additional 493,295 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Light & Wonder during the 2nd quarter worth approximately $23,597,000. Intech Investment Management LLC purchased a new position in shares of Light & Wonder during the 2nd quarter worth approximately $1,620,000. Thrivent Financial for Lutherans lifted its holdings in shares of Light & Wonder by 57.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 35,437 shares of the company’s stock valued at $3,716,000 after buying an additional 12,871 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of Light & Wonder in the second quarter valued at approximately $1,470,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.