Light & Wonder, Inc. (NASDAQ:LNW) Receives $110.91 Consensus Target Price from Brokerages

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $110.91.

A number of research analysts recently commented on LNW shares. Macquarie increased their target price on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Stifel Nicolaus upped their price objective on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Mizuho raised their price objective on Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th.

Insider Transactions at Light & Wonder

In other Light & Wonder news, CEO Siobhan Lane sold 3,784 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total value of $398,720.08. Following the completion of the transaction, the chief executive officer now directly owns 21,254 shares in the company, valued at approximately $2,239,533.98. This represents a 15.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James Sottile sold 2,356 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the completion of the sale, the vice president now directly owns 77,331 shares of the company’s stock, valued at approximately $8,161,513.74. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,867 shares of company stock worth $1,037,884. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Light & Wonder

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp boosted its position in Light & Wonder by 2.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock valued at $387,000 after acquiring an additional 108 shares in the last quarter. Centaurus Financial Inc. boosted its position in shares of Light & Wonder by 3.3% during the fourth quarter. Centaurus Financial Inc. now owns 3,350 shares of the company’s stock valued at $289,000 after purchasing an additional 108 shares in the last quarter. Xponance Inc. grew its stake in Light & Wonder by 0.7% in the fourth quarter. Xponance Inc. now owns 17,769 shares of the company’s stock worth $1,535,000 after purchasing an additional 120 shares during the period. CIBC Asset Management Inc grew its stake in Light & Wonder by 2.5% in the fourth 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 period. Finally, New York State Common Retirement Fund increased its stake in shares of Light & Wonder by 0.5% in the 4th quarter. New York State Common Retirement Fund now owns 40,250 shares of the company’s stock worth $3,477,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Trading Up 0.3 %

Shares of Light & Wonder stock opened at $107.49 on Friday. The company has a 50 day simple moving average of $97.97 and a two-hundred day simple moving average of $95.86. The firm has a market cap of $9.08 billion, a PE ratio of 33.38, a PEG 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 company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61.

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.