Susquehanna Trims Light & Wonder (NASDAQ:LNW) Target Price to $90.00

Light & Wonder (NASDAQ:LNW) had its price target decreased by Susquehanna from $92.00 to $90.00 in a research note issued to investors on Tuesday, Benzinga reports. Susquehanna currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. Truist Financial boosted their price objective on shares of Light & Wonder from $115.00 to $120.00 and gave the company a buy rating in a report on Thursday, July 18th. Stifel Nicolaus boosted their price target on Light & Wonder from $98.00 to $106.00 and gave the company a hold rating in a research note on Tuesday, July 23rd. Maxim Group began coverage on Light & Wonder in a research note on Monday, August 26th. They set a buy rating and a $144.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Light & Wonder from $107.00 to $111.00 and gave the company an overweight rating in a report on Thursday, August 8th. Finally, Benchmark reissued a buy rating and set a $114.00 target price on shares of Light & Wonder in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $106.60.

Light & Wonder Stock Down 0.8 %

Shares of LNW opened at $92.38 on Tuesday. The firm has a market cap of $8.20 billion, a P/E ratio of 38.33, a price-to-earnings-growth ratio of 0.38 and a beta of 1.77. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. Light & Wonder has a 52 week low of $67.71 and a 52 week high of $115.00. The firm’s 50-day simple moving average is $105.25 and its 200 day simple moving average is $100.56.

Light & Wonder (NASDAQ:LNW) last posted its earnings results on Wednesday, August 7th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.14). The firm had revenue of $818.00 million during the quarter, compared to analyst estimates of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. Light & Wonder’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 EPS. On average, analysts forecast that Light & Wonder will post 4.44 earnings per share for the current year.

Light & Wonder announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Light & Wonder

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ninety One UK Ltd raised its position in shares of Light & Wonder by 128.0% during the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after acquiring an additional 511,081 shares during the last quarter. Millennium Management LLC raised its position in shares of Light & Wonder by 573.3% in the 2nd quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after acquiring an additional 493,295 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Light & Wonder by 95.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock valued at $73,601,000 after purchasing an additional 438,443 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Light & Wonder by 102.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock valued at $78,320,000 after purchasing an additional 388,781 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Light & Wonder during the 2nd quarter valued at about $23,597,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.