Light & Wonder (NASDAQ:LNW) Price Target Cut to $93.00 by Analysts at Stifel Nicolaus

Light & Wonder (NASDAQ:LNW) had its price objective lowered by investment analysts at Stifel Nicolaus from $104.00 to $93.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 10.74% from the company’s previous close.

LNW has been the subject of a number of other research reports. Mizuho raised their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 26th. Macquarie lifted their price objective on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Jefferies Financial Group boosted their price target on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $109.91.

Light & Wonder Stock Performance

Shares of NASDAQ:LNW traded down $7.97 during trading on Thursday, hitting $83.98. 155,461 shares of the stock were exchanged, compared to its average volume of 736,951. The company’s fifty day simple moving average is $98.37 and its 200-day simple moving average is $95.30. 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 company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59. Light & Wonder has a 1-year low of $82.74 and a 1-year high of $115.00.

Insider Activity at Light & Wonder

In related news, CAO Vanja Kalabic sold 1,132 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $104.41, for a total transaction of $118,192.12. Following the transaction, the chief accounting officer now directly owns 5,016 shares of the company’s stock, valued at approximately $523,720.56. This trade represents a 18.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James Sottile sold 2,356 shares of Light & Wonder 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 transaction, the vice president now directly owns 77,331 shares of the company’s stock, valued at $8,161,513.74. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,867 shares of company stock worth $1,037,884. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Light & Wonder

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in Light & Wonder in the fourth quarter valued at about $3,365,000. Centaurus Financial Inc. increased its position in Light & Wonder by 3.3% during the 4th quarter. Centaurus Financial Inc. now owns 3,350 shares of the company’s stock worth $289,000 after purchasing an additional 108 shares in the last quarter. Burgundy Asset Management Ltd. boosted its position in Light & Wonder by 2.0% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company’s stock valued at $127,198,000 after buying an additional 28,358 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Light & Wonder by 13.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,411 shares of the company’s stock worth $20,335,000 after buying an additional 28,560 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Light & Wonder by 1,752.9% during the fourth quarter. Royal Bank of Canada now owns 157,073 shares of the company’s stock worth $13,568,000 after buying an additional 148,596 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

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.