Light & Wonder (NASDAQ:LNW) Hits New 52-Week High at $114.09

Shares of Light & Wonder, Inc. (NASDAQ:LNW) reached a new 52-week high on Wednesday . The stock traded as high as $114.09 and last traded at $113.64, with a volume of 189915 shares. The stock had previously closed at $112.03.

Wall Street Analyst Weigh In

LNW has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on Light & Wonder from $98.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Macquarie raised their price objective on Light & Wonder from $120.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and set a $114.00 price objective on shares of Light & Wonder in a research report on Thursday, August 8th. Truist Financial boosted their price objective on shares of Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Maxim Group assumed coverage on shares of Light & Wonder in a report on Monday, August 26th. They issued a “buy” rating and a $144.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $108.20.

Light & Wonder Stock Up 0.7 %

The company has a market cap of $10.16 billion, a PE ratio of 46.49, a P/E/G ratio of 0.46 and a beta of 1.77. The stock has a 50-day moving average of $105.71 and a 200-day moving average of $100.47. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.14). The company had revenue of $818.00 million for the quarter, compared to analysts’ expectations of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS. Sell-side analysts predict that Light & Wonder, Inc. will post 4.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LNW. Norges Bank bought a new position in shares of Light & Wonder during the 4th quarter valued at $124,523,000. Burgundy Asset Management Ltd. increased its holdings in shares of Light & Wonder by 1.2% in the first quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company’s stock worth $134,307,000 after buying an additional 15,902 shares during the period. Ninety One UK Ltd boosted its holdings in Light & Wonder by 128.0% during the 2nd quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock valued at $95,472,000 after acquiring an additional 511,081 shares during the period. Goldman Sachs Group Inc. grew its position in Light & Wonder by 95.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock worth $73,601,000 after acquiring an additional 438,443 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Light & Wonder by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 802,922 shares of the company’s stock valued at $84,215,000 after purchasing an additional 12,317 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other 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.