Light & Wonder (NASDAQ:LNW) Price Target Cut to $84.00 by Analysts at Stifel Nicolaus

Light & Wonder (NASDAQ:LNW) had its target price trimmed by Stifel Nicolaus from $93.00 to $84.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

LNW has been the subject of a number of other reports. Benchmark raised their price target on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Macquarie raised their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. 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 report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.09.

Light & Wonder Trading Up 3.2 %

Shares of NASDAQ LNW opened at $80.36 on Tuesday. Light & Wonder has a 1-year low of $75.46 and a 1-year high of $115.00. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. The business’s 50 day moving average is $95.21 and its two-hundred day moving average is $93.16. The stock has a market capitalization of $6.79 billion, a P/E ratio of 24.96, a PEG ratio of 0.35 and a beta of 1.38.

Insiders Place Their Bets

In other news, CAO Vanja Kalabic sold 1,132 shares of Light & Wonder stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $104.41, for a total value of $118,192.12. Following the transaction, the chief accounting officer now owns 5,016 shares of the company’s stock, valued at $523,720.56. The trade was a 18.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP James Sottile sold 2,356 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total transaction of $248,652.24. Following the sale, the vice president now directly owns 77,331 shares of the company’s stock, valued at $8,161,513.74. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Light & Wonder

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position 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 buying an additional 100,527 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in shares of 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. Norges Bank acquired a new position in shares of Light & Wonder during the fourth quarter valued at about $91,683,000. Deutsche Bank AG raised its position in shares of Light & Wonder by 15.6% in the 4th quarter. Deutsche Bank AG now owns 887,492 shares of the company’s stock valued at $76,662,000 after purchasing an additional 119,616 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Light & Wonder by 12.9% in the 4th quarter. Northern Trust Corp now owns 727,235 shares of the company’s stock worth $62,819,000 after purchasing an additional 83,150 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Company Profile

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.