Light & Wonder (NASDAQ:LNW) Hits New 12-Month High at $109.30

Shares of Light & Wonder, Inc. (NASDAQ:LNW) hit a new 52-week high during trading on Thursday . The company traded as high as $109.30 and last traded at $108.30, with a volume of 29987 shares traded. The stock had previously closed at $107.20.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Stifel Nicolaus upped their price target on Light & Wonder from $98.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Truist Financial upped their price target on Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Mizuho cut their price target on Light & Wonder from $83.00 to $79.00 and set an “underperform” rating for the company in a report on Thursday, May 9th. Finally, Susquehanna lowered Light & Wonder from a “positive” rating to a “neutral” rating and cut their price target for the stock from $111.00 to $95.00 in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $95.75.

Light & Wonder Stock Up 0.6 %

The firm has a fifty day moving average price of $100.79 and a 200 day moving average price of $95.70. The company has a quick ratio of 1.72, a current ratio of 1.98 and a debt-to-equity ratio of 4.61. The company has a market cap of $9.72 billion, a P/E ratio of 44.48, a PEG ratio of 0.44 and a beta of 1.79.

Light & Wonder (NASDAQ:LNW) last announced its earnings results on Wednesday, May 8th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.70 by $0.23. The company had revenue of $756.00 million for the quarter, compared to analysts’ expectations of $732.01 million. Light & Wonder had a return on equity of 32.27% and a net margin of 7.43%. Equities research analysts forecast that Light & Wonder, Inc. will post 4.23 earnings per share for the current year.

Hedge Funds Weigh In On Light & Wonder

Several hedge funds have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System bought a new position in Light & Wonder in the second quarter valued at about $737,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Light & Wonder by 6.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,278 shares of the company’s stock valued at $2,022,000 after acquiring an additional 1,236 shares during the last quarter. Ninety One UK Ltd lifted its stake in Light & Wonder by 128.0% in the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock valued at $95,472,000 after buying an additional 511,081 shares during the period. Raymond James & Associates lifted its stake in Light & Wonder by 2.9% in the second quarter. Raymond James & Associates now owns 14,056 shares of the company’s stock valued at $1,474,000 after buying an additional 400 shares during the period. Finally, Wedge Capital Management L L P NC lifted its stake in Light & Wonder by 2.4% in the second quarter. Wedge Capital Management L L P NC now owns 408,922 shares of the company’s stock valued at $42,888,000 after buying an additional 9,656 shares during the period. Institutional investors own 88.08% of the company’s stock.

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.