Light & Wonder, Inc. (NASDAQ:LNW) Receives Average Recommendation of “Moderate Buy” from Brokerages

Light & Wonder, Inc. (NASDAQ:LNW) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $107.36.

Several research analysts have commented on LNW shares. Stifel Nicolaus decreased their price target on shares of Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a research note on Wednesday, September 25th. B. Riley assumed coverage on shares of Light & Wonder in a research note on Tuesday, October 8th. They issued a “buy” rating and a $120.00 price target for the company. Craig Hallum upgraded Light & Wonder to a “strong-buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. increased their target price on Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $114.00 price target on shares of Light & Wonder in a research note on Thursday, August 8th.

Light & Wonder Price Performance

LNW opened at $93.24 on Monday. The stock has a market capitalization of $8.23 billion, a P/E ratio of 28.96, a PEG ratio of 0.51 and a beta of 1.75. The company has a current ratio of 1.88, a quick ratio of 1.58 and a debt-to-equity ratio of 4.49. Light & Wonder has a 12-month low of $76.52 and a 12-month high of $115.00. The stock has a 50-day moving average price of $98.06 and a 200-day moving average price of $99.96.

Light & Wonder declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LNW. True Wealth Design LLC purchased a new position in shares of Light & Wonder during the third quarter valued at about $28,000. Capital Performance Advisors LLP bought a new stake in Light & Wonder during the 3rd quarter valued at approximately $29,000. GAMMA Investing LLC grew its stake in Light & Wonder by 59.6% in 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 in the 3rd quarter worth about $51,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Light & Wonder during the third quarter valued at approximately $108,000. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Company Profile

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.