Macquarie Forecasts Strong Price Appreciation for Light & Wonder (NASDAQ:LNW) Stock

Light & Wonder (NASDAQ:LNW) had its price objective hoisted by investment analysts at Macquarie from $117.00 to $122.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price objective points to a potential upside of 16.75% from the stock’s current price.

A number of other brokerages have also issued reports on LNW. Stifel Nicolaus increased their price target on Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday. Truist Financial cut their price target on Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group increased their price target on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Citigroup upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday. Finally, Benchmark reiterated a “buy” rating and issued a $114.00 price target on shares of Light & Wonder in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.25.

Light & Wonder Stock Performance

Light & Wonder stock traded up $2.86 during trading on Wednesday, reaching $104.50. The company had a trading volume of 1,253,453 shares, compared to its average volume of 668,870. Light & Wonder has a 52 week low of $84.00 and a 52 week high of $115.00. The firm’s 50-day simple moving average is $88.98 and its 200 day simple moving average is $95.90. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 32.43, a price-to-earnings-growth ratio of 0.33 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Light & Wonder by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock worth $733,584,000 after acquiring an additional 100,527 shares in the last quarter. State Street Corp lifted 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 worth $240,582,000 after purchasing an additional 56,890 shares during the last quarter. 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 worth $127,198,000 after purchasing an additional 28,358 shares during 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 worth $131,745,000 after purchasing an additional 324,088 shares during the last quarter. Finally, Norges Bank bought a new stake in Light & Wonder in the fourth quarter worth about $91,683,000. Hedge funds and other institutional investors 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.