Light & Wonder, Inc. (NASDAQ:LNW) Given Average Rating of “Moderate Buy” by Analysts

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

Several research analysts have commented on the company. Redburn Atlantic downgraded Light & Wonder from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $105.00 to $110.00 in a research report on Monday, March 11th. Susquehanna boosted their price objective on shares of Light & Wonder from $100.00 to $111.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Benchmark initiated coverage on shares of Light & Wonder in a research note on Tuesday, January 16th. They issued a “buy” rating and a $92.00 target price for the company. Mizuho assumed coverage on shares of Light & Wonder in a report on Tuesday, March 26th. They issued an “underperform” rating and a $83.00 price target on the stock. Finally, Truist Financial upped their price target on Light & Wonder from $90.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th.

Light & Wonder Price Performance

Shares of NASDAQ:LNW opened at $96.52 on Thursday. The business has a fifty day simple moving average of $97.69 and a 200 day simple moving average of $88.39. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.04. Light & Wonder has a 1 year low of $56.01 and a 1 year high of $108.90. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 54.84 and a beta of 1.80.

Light & Wonder (NASDAQ:LNW) last posted its earnings results 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 business had revenue of $770.00 million during the quarter, compared to the consensus estimate of $748.30 million. During the same period in the prior year, the firm earned $0.12 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts predict that Light & Wonder will post 3.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Light & Wonder

In other news, VP James Sottile sold 1,549 shares of Light & Wonder 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 transaction, the vice president now owns 57,478 shares of the company’s stock, valued at approximately $5,813,899.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Light & Wonder news, CAO Vanja Kalabic sold 1,149 shares of the stock in a transaction on 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 approximately $161,152. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James Sottile sold 1,549 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $101.15, for a total transaction of $156,681.35. Following the transaction, the vice president now owns 57,478 shares in the company, valued at approximately $5,813,899.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,537 shares of company stock worth $760,427. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Light & Wonder during the fourth quarter worth about $124,523,000. Goldman Sachs Group Inc. raised its stake in shares of Light & Wonder by 95.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock valued at $73,601,000 after acquiring an additional 438,443 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Light & Wonder by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,251,206 shares of the company’s stock worth $89,249,000 after purchasing an additional 231,631 shares during the period. Moody Aldrich Partners LLC bought a new stake in shares of Light & Wonder in the fourth quarter worth $6,848,000. Finally, Barclays PLC increased its holdings in Light & Wonder by 95.8% in the third quarter. Barclays PLC now owns 168,548 shares of the company’s stock valued at $12,021,000 after purchasing an additional 82,460 shares during the period. Institutional investors own 88.08% of the company’s stock.

About Light & Wonder

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.