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

Light & Wonder, Inc. (NASDAQ:LNW) has been given an average recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $106.82.

A number of brokerages have recently issued reports on LNW. Stifel Nicolaus lifted their target price on Light & Wonder from $84.00 to $95.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Macquarie cut their target price on Light & Wonder from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Benchmark decreased their price target on shares of Light & Wonder from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. lifted their price target 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.

Light & Wonder Trading Up 1.1%

NASDAQ LNW opened at $84.53 on Monday. The stock has a market cap of $7.13 billion, a P/E ratio of 26.25, a PEG ratio of 0.35 and a beta of 1.30. The company’s fifty day simple moving average is $88.73 and its 200-day simple moving average is $92.14. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. Light & Wonder has a 52 week low of $75.46 and a 52 week high of $115.00.

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

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $104.41, for a total value of $118,192.12. Following the sale, the chief accounting officer now directly owns 5,016 shares of the company’s stock, valued at $523,720.56. This trade represents a 18.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James Sottile sold 2,356 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value of $248,652.24. Following the completion of the sale, the vice president now owns 77,331 shares in the company, valued at $8,161,513.74. The trade was a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,867 shares of company stock worth $1,037,884 over the last 90 days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Light & Wonder

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

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.