Light & Wonder (NASDAQ:LNW) Price Target Lowered to $100.00 at Benchmark

Light & Wonder (NASDAQ:LNW) had its price objective trimmed by Benchmark from $130.00 to $100.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on LNW. Macquarie dropped their price objective on shares of Light & Wonder from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. 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 note on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price target on Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Mizuho lifted their price target on Light & Wonder from $80.00 to $84.00 and gave the company an “underperform” rating in a research note on Thursday, May 8th. Finally, Stifel Nicolaus lifted their price target on Light & Wonder from $84.00 to $95.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.82.

Light & Wonder Stock Performance

Shares of LNW opened at $86.13 on Monday. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The stock has a market capitalization of $7.27 billion, a P/E ratio of 26.75, a P/E/G ratio of 0.35 and a beta of 1.30. The company’s fifty day moving average is $90.19 and its two-hundred day moving average is $92.42. Light & Wonder has a 1 year low of $75.46 and a 1 year high of $115.00.

Light & Wonder (NASDAQ:LNW) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $802.93 million. Light & Wonder had a net margin of 9.30% and a return on equity of 49.91%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. On average, sell-side analysts predict that Light & Wonder will post 4.3 earnings per share for the current year.

Insider Buying and Selling at Light & Wonder

In related news, VP James Sottile sold 2,356 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the sale, the vice president now owns 77,331 shares of the company’s stock, valued at $8,161,513.74. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction on Thursday, March 6th. The shares were 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 in the company, valued at approximately $523,720.56. The trade was a 18.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Light & Wonder

A number of large investors have recently made changes to their positions in LNW. Bessemer Group Inc. boosted its stake in shares of Light & Wonder by 321.7% during the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company’s stock valued at $136,152,000 after acquiring an additional 1,199,213 shares during the last quarter. Norges Bank purchased a new position in shares of Light & Wonder during the 4th quarter worth $91,683,000. Park West Asset Management LLC purchased a new position in shares of Light & Wonder during the 4th quarter worth $46,241,000. Ninety One UK Ltd lifted its stake in shares of Light & Wonder by 56.7% during the 1st quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company’s stock worth $101,728,000 after purchasing an additional 425,202 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Light & Wonder during the 1st quarter worth $32,843,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Company Profile

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.