Light & Wonder (NASDAQ:LNW) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Light & Wonder (NASDAQ:LNW) had its price objective raised by Stifel Nicolaus from $84.00 to $95.00 in a research note released on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other equities research analysts have also weighed in on the company. Mizuho lifted their price target on Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, February 26th. Truist Financial lowered their price target on shares of Light & Wonder from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Benchmark upped their price objective on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Macquarie lifted their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. One 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $109.55.

Light & Wonder Stock Performance

Light & Wonder stock opened at $81.74 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. The firm has a market cap of $6.90 billion, a P/E ratio of 25.39, a P/E/G ratio of 0.35 and a beta of 1.30. Light & Wonder has a 1-year low of $75.46 and a 1-year high of $115.00. The firm has a 50-day moving average of $90.64 and a 200-day moving average of $92.49.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.23). The business had revenue of $774.00 million during the quarter, compared to the consensus estimate of $802.93 million. Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. Light & Wonder’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. Sell-side analysts expect that Light & Wonder will post 4.3 EPS for the current year.

Insider Activity at Light & Wonder

In other Light & Wonder news, VP James Sottile sold 2,356 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was 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 in the company, valued at $8,161,513.74. This represents a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Siobhan Lane sold 3,784 shares of Light & Wonder stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total transaction of $398,720.08. Following the completion of the sale, the chief executive officer now owns 21,254 shares in the company, valued at approximately $2,239,533.98. This represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in 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 buying an additional 1,199,213 shares during the last quarter. Norges Bank bought a new stake in Light & Wonder in the fourth quarter worth $91,683,000. Park West Asset Management LLC bought a new stake in shares of Light & Wonder in the 4th quarter worth about $46,241,000. Ninety One UK Ltd raised its position 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 valued at $101,728,000 after buying an additional 425,202 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in Light & Wonder in the first quarter worth about $32,843,000. Hedge funds and other 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.