Mizuho Begins Coverage on Light & Wonder (NASDAQ:LNW)

Mizuho assumed coverage on shares of Light & Wonder (NASDAQ:LNW) in a report published on Tuesday, MarketBeat reports. The firm issued an underperform rating and a $83.00 price target on the stock.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their target price on Light & Wonder from $98.00 to $107.00 and gave the stock an overweight rating in a report on Wednesday, February 28th. Susquehanna boosted their target price on Light & Wonder from $100.00 to $111.00 and gave the stock a positive rating in a report on Wednesday, February 28th. Macquarie boosted their target price on Light & Wonder from $100.00 to $115.00 and gave the stock an outperform rating in a report on Wednesday, February 28th. Benchmark assumed coverage on Light & Wonder in a research note on Tuesday, January 16th. They issued a buy rating and a $92.00 price target for the company. Finally, Redburn Atlantic cut Light & Wonder from a buy rating to a neutral rating and boosted their price target for the stock from $105.00 to $110.00 in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Light & Wonder presently has a consensus rating of Moderate Buy and an average price target of $96.75.

Light & Wonder Trading Down 1.8 %

NASDAQ LNW opened at $102.09 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.04. Light & Wonder has a twelve month low of $56.01 and a twelve month high of $108.90. The firm has a market capitalization of $9.17 billion, a PE ratio of 58.01 and a beta of 1.77. The stock’s 50 day moving average is $92.92 and its 200 day moving average is $84.11.

Light & Wonder (NASDAQ:LNW) last released 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 company had revenue of $770.00 million during the quarter, compared to the consensus estimate of $748.30 million. During the same period last year, the firm posted $0.12 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. Research analysts forecast that Light & Wonder will post 3.77 earnings per share for the current fiscal year.

Insider Activity at Light & Wonder

In related news, CEO Siobhan Lane sold 3,566 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $100.73, for a total transaction of $359,203.18. Following the completion of the sale, the chief executive officer now owns 11,302 shares in the company, valued at $1,138,450.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Light & Wonder news, CFO Oliver Chow sold 1,273 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $101.19, for a total value of $128,814.87. Following the completion of the sale, the chief financial officer now owns 1,517 shares in the company, valued at $153,505.23. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Siobhan Lane sold 3,566 shares of the company’s 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 completion of the sale, the chief executive officer now owns 11,302 shares of the company’s stock, valued at approximately $1,138,450.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,537 shares of company stock worth $760,427. 2.00% of the stock is owned by insiders.

Institutional Trading of Light & Wonder

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in Light & Wonder by 95.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock worth $73,601,000 after buying an additional 438,443 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Light & Wonder in the fourth quarter worth about $807,000. Neo Ivy Capital Management bought a new position in shares of Light & Wonder in the fourth quarter worth about $157,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Light & Wonder by 634.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 378,374 shares of the company’s stock worth $31,069,000 after acquiring an additional 326,886 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Light & Wonder by 1.1% in the fourth quarter. Legal & General Group Plc now owns 159,841 shares of the company’s stock worth $13,125,000 after acquiring an additional 1,713 shares during the period. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.