Macquarie Cuts Light & Wonder (NASDAQ:LNW) Price Target to $120.00

Light & Wonder (NASDAQ:LNW) had its price objective decreased by Macquarie from $125.00 to $120.00 in a research note released on Thursday morning,Benzinga reports. Macquarie currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. Benchmark boosted their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Stifel Nicolaus upped their target price on Light & Wonder from $84.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday. Jefferies Financial Group lifted their price target on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Mizuho boosted their price target on Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $109.55.

Light & Wonder Price Performance

NASDAQ LNW opened at $81.74 on Thursday. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 0.35 and a beta of 1.30. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. The stock’s fifty day moving average price is $90.64 and its 200 day moving average price is $92.49. Light & Wonder has a 1 year low of $75.46 and a 1 year high of $115.00.

Light & Wonder (NASDAQ:LNW) last released its earnings results on Wednesday, May 7th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.23). Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. The firm had revenue of $774.00 million for the quarter, compared to analyst estimates of $802.93 million. During the same period last year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that Light & Wonder will post 4.3 earnings per share for the current year.

Insider Activity

In other news, CAO Vanja Kalabic sold 1,132 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $104.41, for a total transaction of $118,192.12. Following the transaction, the chief accounting officer now owns 5,016 shares of the company’s stock, valued at approximately $523,720.56. The trade was a 18.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Siobhan Lane sold 3,784 shares of Light & Wonder stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.37, for a total transaction of $398,720.08. Following the transaction, the chief executive officer now directly owns 21,254 shares in the company, valued at $2,239,533.98. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,867 shares of company stock worth $1,037,884 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Light & Wonder

A number of hedge funds and other institutional investors have recently modified their holdings of LNW. Versant Capital Management Inc boosted its stake in Light & Wonder by 4,783.3% during the first quarter. Versant Capital Management Inc now owns 293 shares of the company’s stock worth $25,000 after buying an additional 287 shares during the period. R Squared Ltd acquired a new stake in shares of Light & Wonder in the fourth quarter valued at $35,000. Farther Finance Advisors LLC lifted its stake in Light & Wonder by 3,861.1% during the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company’s stock worth $63,000 after acquiring an additional 695 shares in the last quarter. Blue Trust Inc. boosted its holdings in Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company’s stock valued at $65,000 after acquiring an additional 474 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in Light & Wonder in the 1st quarter valued at about $71,000. 88.08% of the stock is 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.