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

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $110.91.

A number of equities research analysts have recently weighed in on LNW shares. Mizuho lifted their price objective on Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. Benchmark lifted their price target on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 28th. Stifel Nicolaus upped their price objective on shares of Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, Macquarie increased their price target on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th.

Light & Wonder Stock Performance

Light & Wonder stock opened at $89.09 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. The firm has a market cap of $7.53 billion, a P/E ratio of 27.67, a P/E/G ratio of 0.35 and a beta of 1.59. Light & Wonder has a 1-year low of $84.00 and a 1-year high of $115.00. The firm has a 50-day moving average of $98.48 and a 200-day moving average of $95.76.

Insider Buying and Selling

In other news, CAO Vanja Kalabic sold 1,132 shares of Light & Wonder stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $104.41, for a total value of $118,192.12. Following the completion of the transaction, the chief accounting officer now owns 5,016 shares of the company’s stock, valued at $523,720.56. The trade was a 18.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James Sottile sold 2,356 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $105.54, for a total transaction of $248,652.24. Following the sale, the vice president now directly owns 77,331 shares in the company, valued at $8,161,513.74. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,867 shares of company stock worth $1,037,884 in the last 90 days. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Light & Wonder

A number of hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in shares of Light & Wonder in the 3rd quarter worth $28,000. R Squared Ltd bought a new stake in Light & Wonder in the 4th quarter worth about $35,000. Quarry LP purchased a new position in Light & Wonder in the 3rd quarter worth about $51,000. Blue Trust Inc. raised its position in Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company’s stock worth $65,000 after buying an additional 474 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in Light & Wonder during the 3rd quarter valued at about $104,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.