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

Light & Wonder, Inc. (NASDAQ:LNW) has received an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $110.83.

Several brokerages recently commented on LNW. Mizuho upped their price target on shares of Light & Wonder from $76.00 to $80.00 and gave the company an “underperform” rating in a research report on Wednesday, February 26th. Macquarie increased their target price on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Jefferies Financial Group raised their target price on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Benchmark upped their price target on Light & Wonder from $114.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Stifel Nicolaus increased their price objective on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th.

Hedge Funds Weigh In On Light & Wonder

Hedge funds have recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. lifted its stake in Light & Wonder by 2.0% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company’s stock valued at $127,198,000 after acquiring an additional 28,358 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Light & Wonder by 13.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,411 shares of the company’s stock valued at $20,335,000 after purchasing an additional 28,560 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Light & Wonder by 1,752.9% in the 4th quarter. Royal Bank of Canada now owns 157,073 shares of the company’s stock valued at $13,568,000 after purchasing an additional 148,596 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Light & Wonder by 6.8% in the fourth quarter. ProShare Advisors LLC now owns 4,131 shares of the company’s stock worth $357,000 after purchasing an additional 263 shares in the last quarter. Finally, Nomura Holdings Inc. increased its position in Light & Wonder by 16.5% during the fourth quarter. Nomura Holdings Inc. now owns 31,022 shares of the company’s stock worth $2,680,000 after buying an additional 4,391 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Price Performance

LNW stock opened at $106.60 on Wednesday. Light & Wonder has a one year low of $84.00 and a one year high of $115.00. The firm has a 50-day moving average of $92.44 and a two-hundred day moving average of $96.24. The firm has a market capitalization of $9.00 billion, a PE ratio of 33.11, a P/E/G ratio of 0.35 and a beta of 1.72. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49.

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.