Light & Wonder, Inc. (NASDAQ:LNW) Given Average Recommendation of “Moderate Buy” by Brokerages

Light & Wonder, Inc. (NASDAQ:LNW) has been given a consensus rating of “Moderate Buy” by the fourteen analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $110.91.

LNW has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Stifel Nicolaus increased their target price on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Benchmark lifted their price objective on shares of Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th.

Light & Wonder Price Performance

Light & Wonder stock opened at $99.36 on Friday. Light & Wonder has a 12-month low of $84.00 and a 12-month high of $115.00. 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 50-day moving average price of $98.50 and a 200-day moving average price of $95.95. The firm has a market capitalization of $8.39 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 0.35 and a beta of 1.59.

Insider Buying and Selling at Light & Wonder

In related news, CAO Vanja Kalabic sold 1,132 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $104.41, for a total transaction of $118,192.12. Following the completion of the transaction, the chief accounting officer now owns 5,016 shares in the company, valued at $523,720.56. The trade was a 18.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Siobhan Lane sold 3,784 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,239,533.98. This trade represents a 15.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,867 shares of company stock valued at $1,037,884. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Light & Wonder

Several hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC purchased a new position in shares of Light & Wonder in the 3rd quarter valued at approximately $28,000. R Squared Ltd purchased a new position in shares of Light & Wonder in the fourth quarter worth $35,000. Quarry LP acquired a new stake in shares of Light & Wonder during the third quarter worth $51,000. Blue Trust Inc. grew its holdings 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 last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Light & Wonder in the 3rd quarter valued at $104,000. 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.