Light & Wonder (NASDAQ:LNW) Price Target Raised to $84.00 at Mizuho

Light & Wonder (NASDAQ:LNW) had its target price upped by research analysts at Mizuho from $80.00 to $84.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Mizuho’s price target suggests a potential upside of 2.76% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Macquarie lowered their price objective on Light & Wonder from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday. 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 report on Wednesday, February 26th. Truist Financial decreased their price objective on shares of Light & Wonder from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Benchmark lifted their target price on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Light & Wonder presently has an average rating of “Moderate Buy” and a consensus target price of $109.55.

Light & Wonder Stock Performance

Shares of LNW opened at $81.74 on Thursday. Light & Wonder has a 52-week low of $75.46 and a 52-week high of $115.00. The stock’s 50-day simple moving average is $90.64 and its 200 day simple moving average is $92.49. 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 $6.93 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30.

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

Insider Activity

In other Light & Wonder news, VP James Sottile sold 2,356 shares of Light & Wonder 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 transaction, the vice president now directly owns 77,331 shares of the company’s stock, valued at $8,161,513.74. The trade was a 2.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.37, for a total value of $398,720.08. Following the sale, the chief executive officer now directly owns 21,254 shares of the company’s stock, valued at approximately $2,239,533.98. This trade represents a 15.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,867 shares of company stock valued at $1,037,884. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Light & Wonder

A number of hedge funds have recently modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of Light & Wonder by 4,783.3% in the first quarter. Versant Capital Management Inc now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 287 shares during the last quarter. R Squared Ltd purchased a new stake in Light & Wonder in the 4th quarter worth approximately $35,000. Farther Finance Advisors LLC grew its position in shares of Light & Wonder by 3,861.1% in the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company’s stock worth $63,000 after buying an additional 695 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Light & Wonder by 194.3% during the fourth quarter. Blue Trust Inc. now owns 718 shares of the company’s stock valued at $65,000 after buying an additional 474 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Light & Wonder during the first quarter valued at approximately $71,000. 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.