Brokerages Set Light & Wonder, Inc. (NASDAQ:LNW) Price Target at $103.86

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have received an average recommendation of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $103.8571.

LNW has been the topic of a number of research reports. Zacks Research downgraded shares of Light & Wonder from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Wall Street Zen downgraded shares of Light & Wonder from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Truist Financial upped their target price on shares of Light & Wonder from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Light & Wonder in a research report on Wednesday. Finally, Benchmark cut their target price on shares of Light & Wonder from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 8th.

Light & Wonder Stock Down 0.9%

Shares of NASDAQ:LNW opened at $79.35 on Thursday. Light & Wonder has a 12 month low of $69.56 and a 12 month high of $113.94. The company’s 50-day moving average price is $87.39 and its two-hundred day moving average price is $88.36. The company has a quick ratio of 1.51, a current ratio of 1.77 and a debt-to-equity ratio of 6.86. The firm has a market cap of $6.66 billion, a P/E ratio of 20.04, a P/E/G ratio of 0.48 and a beta of 1.45.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.14. Light & Wonder had a net margin of 10.89% and a return on equity of 71.17%. The firm had revenue of $809.00 million for the quarter, compared to analyst estimates of $851.29 million. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts forecast that Light & Wonder will post 4.3 EPS for the current fiscal year.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, Director Jamie Odell bought 8,275 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were bought at an average cost of $78.81 per share, for a total transaction of $652,152.75. Following the transaction, the director owned 8,275 shares in the company, valued at approximately $652,152.75. This trade represents a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy Throsby purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average price of $89.37 per share, for a total transaction of $1,787,400.00. Following the completion of the transaction, the director directly owned 42,082 shares in the company, valued at $3,760,868.34. This trade represents a 90.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 37,756 shares of company stock valued at $3,209,088. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Light & Wonder

A number of hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Light & Wonder by 0.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,018 shares of the company’s stock valued at $1,907,000 after acquiring an additional 133 shares during the period. Simon Quick Advisors LLC raised its position in shares of Light & Wonder by 2.9% in the 1st quarter. Simon Quick Advisors LLC now owns 4,752 shares of the company’s stock valued at $412,000 after acquiring an additional 136 shares during the period. KBC Group NV raised its position in shares of Light & Wonder by 3.8% in the 1st quarter. KBC Group NV now owns 3,746 shares of the company’s stock valued at $324,000 after acquiring an additional 137 shares during the period. AlphaQuest LLC raised its position in shares of Light & Wonder by 41.8% in the 2nd quarter. AlphaQuest LLC now owns 604 shares of the company’s stock valued at $58,000 after acquiring an additional 178 shares during the period. Finally, IFP Advisors Inc raised its holdings in Light & Wonder by 198.9% during the 2nd quarter. IFP Advisors Inc now owns 269 shares of the company’s stock worth $26,000 after buying an additional 179 shares during the period. 88.08% of the stock is currently owned by institutional investors and hedge funds.

About Light & Wonder

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.