Light & Wonder (NASDAQ:LNW - Get Free Report) had its price target upped by research analysts at Jefferies Financial Group from $120.00 to $121.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Jefferies Financial Group's price objective would suggest a potential upside of 35.44% from the company's current price.
Several other brokerages have also issued reports on LNW. UBS Group raised Light & Wonder from a "neutral" rating to a "buy" rating in a report on Wednesday, September 25th. Susquehanna cut their price target on Light & Wonder from $92.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 24th. B. Riley began coverage on Light & Wonder in a report on Tuesday, October 8th. They issued a "buy" rating and a $120.00 price objective for the company. Macquarie lowered their target price on shares of Light & Wonder from $122.00 to $117.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 25th. Finally, Truist Financial reduced their price target on shares of Light & Wonder from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Light & Wonder has a consensus rating of "Moderate Buy" and a consensus price target of $108.50.
Read Our Latest Research Report on LNW
LNW stock traded up $2.53 during midday trading on Wednesday, reaching $89.34. 354,392 shares of the company were exchanged, compared to its average volume of 617,408. The stock's 50-day simple moving average is $91.99 and its 200 day simple moving average is $98.30. Light & Wonder has a 1-year low of $77.65 and a 1-year high of $115.00. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 0.55 and a beta of 1.73.
Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings 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 during the period. FMR LLC grew its position in shares of Light & Wonder by 28.7% in the third quarter. FMR LLC now owns 1,452,052 shares of the company's stock valued at $131,745,000 after purchasing an additional 324,088 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Light & Wonder during the 3rd quarter valued at about $25,277,000. Susquehanna Fundamental Investments LLC acquired a new position in Light & Wonder during the second quarter worth approximately $23,597,000. Finally, Barclays PLC raised its position in shares of Light & Wonder by 539.6% in the 3rd quarter. Barclays PLC now owns 155,852 shares of the company's stock worth $14,142,000 after buying an additional 131,486 shares during the period. 88.08% of the stock is owned by hedge funds and other institutional investors.
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.
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