Benchmark Reaffirms Buy Rating for Light & Wonder (NASDAQ:LNW)

Benchmark reaffirmed their buy rating on shares of Light & Wonder (NASDAQ:LNW) in a research report report published on Wednesday,Benzinga reports. Benchmark currently has a $114.00 price target on the stock.

Several other research analysts have also commented on LNW. Truist Financial lowered their price objective on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group raised their price objective on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.25.

Light & Wonder Trading Down 2.9 %

Shares of LNW stock opened at $101.83 on Wednesday. The company has a 50-day moving average of $89.67 and a two-hundred day moving average of $96.07. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. Light & Wonder has a 1-year low of $84.00 and a 1-year high of $115.00. The firm has a market cap of $8.99 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 0.36 and a beta of 1.72.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC lifted its stake in Light & Wonder by 118.5% in the third quarter. Algert Global LLC now owns 61,606 shares of the company’s stock worth $5,590,000 after acquiring an additional 33,410 shares during the last quarter. Main Management ETF Advisors LLC purchased a new position in Light & Wonder in the third quarter worth approximately $774,000. GSA Capital Partners LLP acquired a new stake in Light & Wonder during the third quarter worth approximately $725,000. State Street Corp raised its holdings in Light & Wonder by 2.2% during the third quarter. State Street Corp now owns 2,651,627 shares of the company’s stock worth $240,582,000 after purchasing an additional 56,890 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Light & Wonder by 108.6% during the third quarter. BNP Paribas Financial Markets now owns 12,434 shares of the company’s stock worth $1,128,000 after purchasing an additional 6,472 shares in the last quarter. 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.