Light & Wonder (NASDAQ:LNW) Coverage Initiated by Analysts at Mizuho

Mizuho initiated coverage on shares of Light & Wonder (NASDAQ:LNW) in a report published on Tuesday, Marketbeat Ratings reports. The brokerage issued an underperform rating and a $83.00 price objective on the stock.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on Light & Wonder from $98.00 to $107.00 and gave the company an overweight rating in a research note on Wednesday, February 28th. Benchmark initiated coverage on shares of Light & Wonder in a research report on Tuesday, January 16th. They set a buy rating and a $92.00 price target on the stock. Truist Financial upped their price objective on shares of Light & Wonder from $90.00 to $115.00 and gave the company a buy rating in a research report on Wednesday, February 28th. Stifel Nicolaus reiterated a hold rating and set a $103.00 target price (up from $97.00) on shares of Light & Wonder in a report on Thursday, March 14th. Finally, Redburn Atlantic downgraded Light & Wonder from a buy rating to a neutral rating and increased their price target for the stock from $105.00 to $110.00 in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $96.75.

Light & Wonder Trading Down 1.8 %

Shares of NASDAQ LNW opened at $102.09 on Tuesday. The company’s 50 day simple moving average is $93.33 and its 200 day simple moving average is $84.28. The firm has a market capitalization of $9.17 billion, a P/E ratio of 58.01 and a beta of 1.77. Light & Wonder has a fifty-two week low of $56.01 and a fifty-two week high of $108.90. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.88 and a quick ratio of 1.63.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.03). The company had revenue of $770.00 million during the quarter, compared to the consensus estimate of $748.30 million. Light & Wonder had a return on equity of 23.68% and a net margin of 5.58%. During the same quarter in the prior year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, analysts predict that Light & Wonder will post 3.77 EPS for the current year.

Insider Activity at Light & Wonder

In other news, CEO Siobhan Lane sold 3,566 shares of Light & Wonder stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $100.73, for a total value of $359,203.18. Following the sale, the chief executive officer now directly owns 11,302 shares in the company, valued at $1,138,450.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Siobhan Lane sold 3,566 shares of Light & Wonder stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $100.73, for a total value of $359,203.18. Following the sale, the chief executive officer now owns 11,302 shares of the company’s stock, valued at $1,138,450.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Vanja Kalabic sold 1,149 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $100.72, for a total value of $115,727.28. Following the sale, the chief accounting officer now owns 1,600 shares in the company, valued at approximately $161,152. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,537 shares of company stock valued at $760,427. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Light & Wonder

Several hedge funds and other institutional investors have recently made changes to their positions in LNW. Vanguard Group Inc. lifted its stake in Light & Wonder by 0.5% in the third quarter. Vanguard Group Inc. now owns 9,152,926 shares of the company’s stock valued at $652,878,000 after acquiring an additional 46,751 shares during the last quarter. Morgan Stanley grew its holdings in Light & Wonder by 0.4% during the third quarter. Morgan Stanley now owns 3,251,704 shares of the company’s stock worth $231,944,000 after purchasing an additional 14,377 shares during the period. State Street Corp grew its holdings in Light & Wonder by 2.0% during the first quarter. State Street Corp now owns 3,101,807 shares of the company’s stock worth $186,263,000 after purchasing an additional 61,752 shares during the period. Goldman Sachs Group Inc. increased its position in Light & Wonder by 5.0% during the second quarter. Goldman Sachs Group Inc. now owns 1,983,695 shares of the company’s stock worth $136,399,000 after buying an additional 94,764 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Light & Wonder by 0.6% in the second quarter. Geode Capital Management LLC now owns 1,894,471 shares of the company’s stock valued at $130,264,000 after buying an additional 11,542 shares during the period. 88.08% of the stock is owned by institutional investors.

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.