Mizuho Issues Positive Forecast for Light & Wonder (NASDAQ:LNW) Stock Price

Light & Wonder (NASDAQ:LNW) had its target price raised by research analysts at Mizuho from $76.00 to $80.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Mizuho’s target price would indicate a potential downside of 25.88% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Stifel Nicolaus raised their price target on shares of Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lifted their target price on Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday. Benchmark reissued a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group lifted their target price on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Light & Wonder currently has an average rating of “Moderate Buy” and a consensus price target of $109.50.

Light & Wonder Stock Performance

NASDAQ LNW traded up $6.31 during trading on Wednesday, hitting $107.94. 313,615 shares of the company’s stock traded hands, compared to its average volume of 699,636. The business has a 50 day moving average of $90.10 and a 200-day moving average of $95.99. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. Light & Wonder has a 12-month low of $84.00 and a 12-month high of $115.00. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 33.53, a PEG ratio of 0.35 and a beta of 1.72.

Institutional Trading of Light & Wonder

Several institutional investors and hedge funds have recently bought and sold shares of LNW. Vanguard Group Inc. raised its stake in Light & Wonder by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock valued at $733,584,000 after purchasing an additional 100,527 shares during the period. State Street Corp grew its stake in Light & Wonder by 2.2% in the third quarter. State Street Corp now owns 2,651,627 shares of the company’s stock valued at $240,582,000 after purchasing an additional 56,890 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in Light & Wonder by 2.0% during 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 in the last quarter. FMR LLC lifted its stake in 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 acquiring an additional 324,088 shares during the last quarter. Finally, Norges Bank bought a new stake in Light & Wonder in the fourth quarter worth approximately $91,683,000. Institutional investors and hedge funds 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.