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

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $107.36.

A number of research firms have recently weighed in on LNW. UBS Group raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. Craig Hallum raised shares of Light & Wonder to a “strong-buy” rating in a research report on Friday, October 4th. B. Riley started coverage on shares of Light & Wonder in a research report on Tuesday, October 8th. They set a “buy” rating and a $120.00 price target for the company. Truist Financial decreased their price target on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Susquehanna reduced their price objective on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th.

Institutional Trading of Light & Wonder

Several large investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in shares of Light & Wonder by 573.3% in the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock valued at $60,761,000 after acquiring an additional 493,295 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Light & Wonder during the 2nd quarter valued at $23,597,000. Intech Investment Management LLC acquired a new position in shares of Light & Wonder during the 2nd quarter valued at $1,620,000. Thrivent Financial for Lutherans raised its stake in shares of Light & Wonder by 57.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 35,437 shares of the company’s stock worth $3,716,000 after buying an additional 12,871 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Light & Wonder in the second quarter valued at $1,470,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Light & Wonder Trading Down 0.1 %

Shares of LNW opened at $85.14 on Tuesday. 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 $77.65 and a 1-year high of $115.00. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 0.55 and a beta of 1.73. The firm has a 50 day simple moving average of $92.17 and a 200-day simple moving average of $98.43.

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.