Light & Wonder (NASDAQ:LNW) Price Target Cut to $100.00 by Analysts at Benchmark

Light & Wonder (NASDAQ:LNW) had its price objective cut by equities researchers at Benchmark from $130.00 to $100.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 16.25% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus boosted their target price on Light & Wonder from $84.00 to $95.00 and gave the stock a “hold” rating in a research report on Thursday. Macquarie reduced their price objective on Light & Wonder from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday. Mizuho boosted their target price on Light & Wonder from $80.00 to $84.00 and gave the company an “underperform” rating in a research note on Thursday. Jefferies Financial Group raised their price target on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. One equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.82.

Light & Wonder Price Performance

LNW stock traded up $4.53 during midday trading on Monday, reaching $86.02. 247,968 shares of the company’s stock traded hands, compared to its average volume of 803,898. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 0.35 and a beta of 1.30. The company has a 50-day simple moving average of $90.64 and a two-hundred day simple moving average of $92.48. Light & Wonder has a 1-year low of $75.46 and a 1-year high of $115.00.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.23). The company had revenue of $774.00 million during the quarter, compared to the consensus estimate of $802.93 million. Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. On average, analysts anticipate that Light & Wonder will post 4.3 earnings per share for the current year.

Insider Activity

In other news, CEO Siobhan Lane sold 3,784 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.37, for a total value of $398,720.08. Following the completion of the transaction, the chief executive officer now directly owns 21,254 shares in the company, valued at approximately $2,239,533.98. This represents a 15.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James Sottile sold 2,356 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $105.54, for a total value of $248,652.24. Following the sale, the vice president now owns 77,331 shares in the company, valued at $8,161,513.74. This represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,867 shares of company stock valued at $1,037,884. 2.10% of the stock is owned by insiders.

Institutional Trading of Light & Wonder

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Light & Wonder by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 733,888 shares of the company’s stock valued at $63,562,000 after acquiring an additional 7,544 shares in the last quarter. ING Groep NV boosted its position in shares of Light & Wonder by 1.9% during the 1st quarter. ING Groep NV now owns 582,926 shares of the company’s stock worth $50,487,000 after purchasing an additional 10,926 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Light & Wonder by 25.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,939 shares of the company’s stock valued at $168,000 after buying an additional 389 shares during the period. Castellan Group bought a new stake in Light & Wonder in the 1st quarter valued at about $10,184,000. Finally, US Bancorp DE lifted its stake in shares of Light & Wonder by 18.7% in the first quarter. US Bancorp DE now owns 1,164 shares of the company’s stock valued at $101,000 after buying an additional 183 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

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.