Macquarie Issues Positive Forecast for Light & Wonder (NASDAQ:LNW) Stock Price

Light & Wonder (NASDAQ:LNW) had its target price boosted by investment analysts at Macquarie from $122.00 to $125.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s target price indicates a potential upside of 23.00% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Stifel Nicolaus raised 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. Jefferies Financial Group upped their price objective 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, Benchmark reissued a “buy” rating and issued a $114.00 target price on shares of Light & Wonder in a report on Wednesday, February 19th. One 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’s stock. According to MarketBeat.com, Light & Wonder presently has an average rating of “Moderate Buy” and an average target price of $109.50.

Light & Wonder Price Performance

NASDAQ:LNW opened at $101.63 on Wednesday. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 31.56, a P/E/G ratio of 0.35 and a beta of 1.72. Light & Wonder has a 52 week low of $84.00 and a 52 week high of $115.00. The firm’s 50-day simple moving average is $90.10 and its 200 day simple moving average is $95.99.

Institutional Trading of Light & Wonder

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Light & Wonder by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock worth $733,584,000 after buying an additional 100,527 shares in the last quarter. State Street Corp grew its position in Light & Wonder by 2.2% during the 3rd quarter. State Street Corp now owns 2,651,627 shares of the company’s stock worth $240,582,000 after acquiring an additional 56,890 shares during the last quarter. Burgundy Asset Management Ltd. increased its holdings in Light & Wonder by 2.0% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company’s stock worth $127,198,000 after purchasing an additional 28,358 shares in the last quarter. FMR LLC raised its position in Light & Wonder by 28.7% in the third quarter. FMR LLC now owns 1,452,052 shares of the company’s stock valued at $131,745,000 after purchasing an additional 324,088 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Light & Wonder during the fourth quarter worth about $91,683,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Company Profile

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.