Stifel Nicolaus Cuts Light & Wonder (NASDAQ:LNW) Price Target to $93.00

Light & Wonder (NASDAQ:LNW) had its target price cut by Stifel Nicolaus from $104.00 to $93.00 in a research note published on Thursday,Benzinga reports. They currently have a hold rating on the stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted 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. Macquarie boosted their price target on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Jefferies Financial Group increased their price objective on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Benchmark boosted their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Light & Wonder presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.91.

Light & Wonder Price Performance

NASDAQ LNW opened at $79.78 on Thursday. The firm’s fifty day simple moving average is $98.14 and its two-hundred day simple moving average is $94.89. The firm has a market capitalization of $6.74 billion, a P/E ratio of 24.78, a P/E/G ratio of 0.35 and a beta of 1.38. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. Light & Wonder has a 12-month low of $75.46 and a 12-month high of $115.00.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Light & Wonder

Several hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Light & Wonder by 2.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock worth $387,000 after purchasing an additional 108 shares during the period. Centaurus Financial Inc. lifted its position in shares of Light & Wonder by 3.3% during the 4th quarter. Centaurus Financial Inc. now owns 3,350 shares of the company’s stock valued at $289,000 after buying an additional 108 shares in the last quarter. Xponance Inc. grew its stake in Light & Wonder by 0.7% in the 4th quarter. Xponance Inc. now owns 17,769 shares of the company’s stock valued at $1,535,000 after acquiring an additional 120 shares during the period. CIBC Asset Management Inc increased its holdings in Light & Wonder by 2.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock worth $510,000 after acquiring an additional 146 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Light & Wonder by 0.5% during the fourth 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 during the period. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.