Brokerages Set Light & Wonder, Inc. (NASDAQ:LNW) Price Target at $110.91

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $110.91.

Several brokerages recently issued reports on LNW. Jefferies Financial Group raised their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Mizuho boosted their price objective on Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Macquarie upped their price objective on Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th.

Insider Activity

In other Light & Wonder news, CEO Siobhan Lane sold 3,784 shares of Light & Wonder stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total transaction of $398,720.08. Following the sale, the chief executive officer now owns 21,254 shares of the company’s stock, valued at $2,239,533.98. The trade was a 15.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP James Sottile sold 2,356 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the transaction, the vice president now owns 77,331 shares in the company, valued at $8,161,513.74. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock worth $1,037,884 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Light & Wonder

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC purchased a new stake in shares of Light & Wonder in the 3rd quarter valued at approximately $337,000. Commerce Bank lifted its holdings in Light & Wonder by 10.5% in the third quarter. Commerce Bank now owns 30,396 shares of the company’s stock valued at $2,758,000 after acquiring an additional 2,887 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Light & Wonder in the third quarter worth approximately $764,000. Cerity Partners LLC increased its stake in Light & Wonder by 222.1% during the third quarter. Cerity Partners LLC now owns 13,042 shares of the company’s stock worth $1,183,000 after acquiring an additional 8,993 shares during the last quarter. Finally, Algert Global LLC raised its position in Light & Wonder by 118.5% in the third quarter. Algert Global LLC now owns 61,606 shares of the company’s stock valued at $5,590,000 after purchasing an additional 33,410 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Stock Performance

LNW opened at $99.36 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. Light & Wonder has a 12-month low of $84.00 and a 12-month high of $115.00. The firm has a 50 day moving average of $98.50 and a two-hundred day moving average of $95.95. The firm has a market capitalization of $8.39 billion, a PE ratio of 30.86, a P/E/G ratio of 0.35 and a beta of 1.59.

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.