Light & Wonder, Inc. (NASDAQ:LNW) Receives Average Rating of “Hold” from Brokerages

Posted by Defense World Staff on Aug 1st, 2023

Light & Wonder, Inc. (NASDAQ:LNW – Get Free Report) has been given a consensus rating of “Hold” by the seven analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $66.00.

A number of analysts have issued reports on the stock. SpectralCast reissued a “reiterates” rating on shares of Light & Wonder in a report on Tuesday, June 27th. Truist Financial boosted their target price on shares of Light & Wonder from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. B. Riley initiated coverage on Light & Wonder in a research note on Thursday, April 20th. They issued a “neutral” rating and a $57.00 price objective for the company. Stifel Nicolaus raised their target price on Light & Wonder from $62.00 to $63.00 in a research report on Wednesday, May 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Light & Wonder from $55.00 to $56.00 in a report on Thursday, May 11th.

Insider Buying and Selling

In related news, Director Hamish Mclennan sold 25,500 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $65.00, for a total value of $1,657,500.00. Following the completion of the transaction, the director now directly owns 9,750 shares in the company, valued at $633,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Hamish Mclennan sold 25,500 shares of Light & Wonder stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $65.00, for a total value of $1,657,500.00. Following the transaction, the director now owns 9,750 shares in the company, valued at $633,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jamie Odell acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were bought at an average cost of $58.90 per share, with a total value of $294,500.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $589,000. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Light & Wonder

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC grew its position in shares of Light & Wonder by 12.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 13,218 shares of the company’s stock worth $775,000 after buying an additional 1,495 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Light & Wonder by 5.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 54,703 shares of the company’s stock worth $3,285,000 after purchasing an additional 2,982 shares during the last quarter. Swiss National Bank grew its position in Light & Wonder by 0.4% during the 4th quarter. Swiss National Bank now owns 216,400 shares of the company’s stock valued at $12,681,000 after purchasing an additional 900 shares during the last quarter. Natixis Advisors L.P. increased its stake in Light & Wonder by 23.7% during the 4th quarter. Natixis Advisors L.P. now owns 14,578 shares of the company’s stock valued at $854,000 after purchasing an additional 2,797 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Light & Wonder in the fourth quarter worth approximately $1,052,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Light & Wonder Stock Performance

NASDAQ LNW opened at $70.30 on Tuesday. The firm has a market capitalization of $6.41 billion, a P/E ratio of 1.82 and a beta of 1.80. The company has a current ratio of 2.74, a quick ratio of 2.48 and a debt-to-equity ratio of 3.27. The firm’s fifty day moving average price is $65.91 and its two-hundred day moving average price is $62.96. Light & Wonder has a 1 year low of $40.10 and a 1 year high of $71.86.

Light & Wonder (NASDAQ:LNW – Get Free Report) last released its quarterly earnings data on Tuesday, May 9th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. The company had revenue of $670.00 million during the quarter, compared to analysts’ expectations of $632.14 million. Light & Wonder had a return on equity of 3.52% and a net margin of 140.65%. The business’s revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm posted ($0.72) earnings per share. As a group, research analysts anticipate that Light & Wonder will post 1.39 EPS for the current year.

About Light & Wonder

(Get Free Report

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. It operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; table products, including shufflers; and perpetual licenses to gaming operators.