Analysts Set Light & Wonder, Inc. (NASDAQ:LNW) PT at $96.75

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are presently 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 issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $96.75.

Several brokerages have weighed in on LNW. Macquarie increased their target price on shares of Light & Wonder from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Truist Financial boosted their target price on Light & Wonder from $90.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Susquehanna lifted their price objective on Light & Wonder from $100.00 to $111.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Benchmark began coverage on Light & Wonder in a report on Tuesday, January 16th. They set a “buy” rating and a $92.00 target price for the company. Finally, Mizuho began coverage on shares of Light & Wonder in a research note on Tuesday, March 26th. They set an “underperform” rating and a $83.00 price target on the stock.

Light & Wonder Stock Performance

Light & Wonder stock opened at $96.52 on Thursday. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 54.84 and a beta of 1.80. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.88 and a quick ratio of 1.63. The firm has a 50 day simple moving average of $97.69 and a 200-day simple moving average of $88.39. Light & Wonder has a 1-year low of $56.01 and a 1-year high of $108.90.

Light & Wonder (NASDAQ:LNW) last posted its 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 business had revenue of $770.00 million for the quarter, compared to analyst estimates of $748.30 million. Light & Wonder had a return on equity of 23.68% and a net margin of 5.58%. Light & Wonder’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS. On average, analysts expect that Light & Wonder will post 3.79 EPS for the current year.

Insider Transactions at Light & Wonder

In other Light & Wonder news, CEO Siobhan Lane sold 3,566 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 11,302 shares in the company, valued at $1,138,450.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Siobhan Lane sold 3,566 shares of Light & Wonder stock in a transaction 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 transaction, the chief executive officer now directly owns 11,302 shares of the company’s stock, valued at approximately $1,138,450.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chief accounting officer now owns 1,600 shares of the company’s stock, valued at approximately $161,152. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,537 shares of company stock valued at $760,427. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Light & Wonder

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Entropy Technologies LP purchased a new position in Light & Wonder during the first quarter worth about $773,000. ProShare Advisors LLC raised its stake in shares of Light & Wonder by 3.9% during the 1st quarter. ProShare Advisors LLC now owns 20,642 shares of the company’s stock worth $2,107,000 after buying an additional 777 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Light & Wonder by 3.9% in the 1st quarter. Russell Investments Group Ltd. now owns 43,414 shares of the company’s stock valued at $4,432,000 after buying an additional 1,636 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Light & Wonder by 33.0% in the first quarter. QRG Capital Management Inc. now owns 9,828 shares of the company’s stock valued at $1,003,000 after buying an additional 2,437 shares in the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in Light & Wonder in the first quarter valued at $3,975,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.