Light & Wonder, Inc. (NASDAQ:LNW) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have earned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $109.91.

A number of equities analysts have commented on LNW shares. Macquarie boosted their price objective on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Stifel Nicolaus cut their price target on Light & Wonder from $104.00 to $93.00 and set a “hold” rating on the stock in a research note on Thursday, April 3rd. Benchmark lifted their price objective on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Mizuho upped their target price on shares of Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, February 26th.

Insider Activity at Light & Wonder

In related news, VP James Sottile sold 2,356 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value of $248,652.24. Following the sale, the vice president now directly owns 77,331 shares of the company’s stock, valued at approximately $8,161,513.74. The trade was a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.37, for a total value of $398,720.08. Following the transaction, the chief executive officer now owns 21,254 shares of the company’s stock, valued at approximately $2,239,533.98. This trade represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,867 shares of company stock worth $1,037,884 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Light & Wonder by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock valued at $733,584,000 after purchasing an additional 100,527 shares in the last quarter. Burgundy Asset Management Ltd. boosted its holdings in shares of Light & Wonder by 2.0% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company’s stock valued at $127,198,000 after buying an additional 28,358 shares during the last quarter. Norges Bank bought a new position in shares of Light & Wonder in the fourth quarter valued at $91,683,000. Deutsche Bank AG raised its position in Light & Wonder by 15.6% during the fourth quarter. Deutsche Bank AG now owns 887,492 shares of the company’s stock worth $76,662,000 after acquiring an additional 119,616 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Light & Wonder by 12.9% in the fourth quarter. Northern Trust Corp now owns 727,235 shares of the company’s stock valued at $62,819,000 after acquiring an additional 83,150 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Price Performance

Shares of Light & Wonder stock opened at $77.87 on Thursday. Light & Wonder has a 1-year low of $75.46 and a 1-year high of $115.00. The firm’s 50-day moving average price is $95.56 and its two-hundred day moving average price is $93.25. 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 stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 0.35 and a beta of 1.38.

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.