Light & Wonder (NASDAQ:LNW) Raised to “Buy” at Citigroup

Light & Wonder (NASDAQ:LNW) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Wednesday,Briefing.com Automated Import reports.

Several other equities research analysts have also weighed in on LNW. Stifel Nicolaus raised their price objective on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and issued a $114.00 target price on shares of Light & Wonder in a research report on Wednesday. Jefferies Financial Group raised their target price on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, Truist Financial decreased their target price on Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned 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, the company has an average rating of “Moderate Buy” and an average target price of $108.83.

Light & Wonder Price Performance

Shares of LNW traded up $2.28 during trading hours on Wednesday, hitting $103.92. 586,317 shares of the company were exchanged, compared to its average volume of 648,213. The company has a market capitalization of $9.18 billion, a PE ratio of 32.27, a PEG ratio of 0.33 and a beta of 1.72. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. The firm has a fifty day simple moving average of $88.98 and a 200-day simple moving average of $95.90. Light & Wonder has a one year low of $84.00 and a one year high of $115.00.

Hedge Funds Weigh In On Light & Wonder

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in Light & Wonder by 2.5% during the fourth 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 during the period. Xponance Inc. increased its stake in Light & Wonder by 0.7% during the fourth 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 stake in Light & Wonder by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock valued at $510,000 after acquiring an additional 146 shares during the period. New York State Common Retirement Fund increased its stake 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 valued at $3,477,000 after acquiring an additional 200 shares during the period. Finally, ProShare Advisors LLC increased its stake in Light & Wonder by 6.8% during the fourth quarter. ProShare Advisors LLC now owns 4,131 shares of the company’s stock valued at $357,000 after acquiring an additional 263 shares during the period. 88.08% of the stock is currently owned by 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.