Light & Wonder, Inc. (NASDAQ:LNW) Receives $107.36 Consensus Target Price from Analysts

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $107.36.

A number of research analysts recently weighed in on the company. Truist Financial cut their price objective on Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Craig Hallum raised Light & Wonder to a “strong-buy” rating in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $114.00 price objective on shares of Light & Wonder in a research note on Thursday, August 8th. Finally, Macquarie cut their price objective on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th.

Light & Wonder Trading Up 1.2 %

NASDAQ:LNW opened at $92.48 on Monday. Light & Wonder has a 1-year low of $76.52 and a 1-year high of $115.00. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 0.51 and a beta of 1.75. 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 fifty day simple moving average of $97.15 and a 200 day simple moving average of $99.91.

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

Institutional Trading of Light & Wonder

Several institutional investors and hedge funds have recently bought and sold shares of LNW. True Wealth Design LLC bought a new position in shares of Light & Wonder during the third quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of Light & Wonder during the third quarter worth approximately $29,000. GAMMA Investing LLC increased its stake in shares of Light & Wonder by 59.6% during the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after purchasing an additional 152 shares during the period. Quarry LP bought a new position in shares of Light & Wonder during the third quarter worth approximately $51,000. Finally, Neo Ivy Capital Management bought a new position in shares of Light & Wonder during the third quarter worth approximately $104,000. Institutional investors 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.