Light & Wonder, Inc. (NASDAQ:LNW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $96.75.

A number of equities research analysts have recently issued reports on LNW shares. Mizuho began coverage on shares of Light & Wonder in a research report on Tuesday, March 26th. They set an “underperform” rating and a $83.00 price objective for the company. Benchmark started coverage on shares of Light & Wonder in a report on Tuesday, January 16th. They set a “buy” rating and a $92.00 price objective for the company. Susquehanna boosted their price target on shares of Light & Wonder from $100.00 to $111.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Redburn Atlantic downgraded Light & Wonder from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $105.00 to $110.00 in a research note on Monday, March 11th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $103.00 price target (up previously from $97.00) on shares of Light & Wonder in a research note on Thursday, March 14th.

Insider Activity at Light & Wonder

In other Light & Wonder news, VP James Sottile sold 1,549 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $101.15, for a total value of $156,681.35. Following the completion of the sale, the vice president now directly owns 57,478 shares of the company’s stock, valued at approximately $5,813,899.70. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP James Sottile sold 1,549 shares of Light & Wonder stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $101.15, for a total value of $156,681.35. Following the completion of the sale, the vice president now directly owns 57,478 shares in the company, valued at $5,813,899.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Vanja Kalabic sold 1,149 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $100.72, for a total transaction of $115,727.28. Following the transaction, the chief accounting officer now owns 1,600 shares in the company, valued at $161,152. The disclosure for this sale can be found here. Insiders sold a total of 7,537 shares of company stock worth $760,427 in the last quarter. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Light & Wonder

A number of large investors have recently added to or reduced their stakes in LNW. BNP Paribas Financial Markets grew its holdings in Light & Wonder by 114.0% in the first quarter. BNP Paribas Financial Markets now owns 91,304 shares of the company’s stock worth $9,321,000 after purchasing an additional 48,629 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Light & Wonder by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 113,077 shares of the company’s stock worth $11,544,000 after purchasing an additional 298 shares in the last quarter. SpiderRock Advisors LLC purchased a new position in Light & Wonder during the 1st quarter worth $436,000. Principal Financial Group Inc. increased its position in Light & Wonder by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 342,710 shares of the company’s stock valued at $34,987,000 after buying an additional 6,695 shares in the last quarter. Finally, XY Capital Ltd raised its stake in Light & Wonder by 360.0% in the first quarter. XY Capital Ltd now owns 30,226 shares of the company’s stock valued at $3,086,000 after buying an additional 23,655 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Trading Up 0.8 %

Shares of LNW stock opened at $90.00 on Thursday. The stock has a market capitalization of $8.13 billion, a P/E ratio of 51.14 and a beta of 1.78. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.04. The firm’s 50 day moving average is $97.66 and its 200 day moving average is $87.69. Light & Wonder has a 12-month low of $56.01 and a 12-month high of $108.90.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.03). Light & Wonder had a return on equity of 23.68% and a net margin of 5.58%. The firm had revenue of $770.00 million during the quarter, compared to the consensus estimate of $748.30 million. During the same period in the previous year, the firm earned $0.12 EPS. The business’s revenue was up 12.9% on a year-over-year basis. Research analysts expect that Light & Wonder will post 3.78 earnings per share for the current year.

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.