Brokerages Set Light & Wonder, Inc. (NASDAQ:LNW) PT at $108.50

Light & Wonder, Inc. (NASDAQ:LNW) has earned an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $108.50.

Several research firms have commented on LNW. Truist Financial dropped their target price on Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. B. Riley began coverage on shares of Light & Wonder in a report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price on the stock. Benchmark reissued a “buy” rating and issued a $114.00 target price on shares of Light & Wonder in a research report on Monday, January 27th. Finally, Jefferies Financial Group boosted their price objective on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th.

Institutional Trading of Light & Wonder

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LNW. State Street Corp raised its holdings in Light & Wonder by 2.2% during the third quarter. State Street Corp now owns 2,651,627 shares of the company’s stock worth $240,582,000 after purchasing an additional 56,890 shares in the last quarter. FMR LLC lifted its stake in shares of Light & Wonder by 28.7% during the third quarter. FMR LLC now owns 1,452,052 shares of the company’s stock worth $131,745,000 after purchasing an additional 324,088 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Light & Wonder by 6.2% during the third quarter. Wedge Capital Management L L P NC now owns 434,206 shares of the company’s stock worth $39,396,000 after acquiring an additional 25,284 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Light & Wonder in the third quarter worth about $25,277,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Light & Wonder by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 206,851 shares of the company’s stock valued at $18,768,000 after purchasing an additional 2,972 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Trading Down 2.9 %

LNW opened at $85.34 on Friday. The business has a 50 day simple moving average of $89.72 and a two-hundred day simple moving average of $96.72. Light & Wonder has a one year low of $79.22 and a one year high of $115.00. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 0.30 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.

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.