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

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $107.36.

Several analysts have weighed in on LNW shares. Deutsche Bank Aktiengesellschaft raised their price target on Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $114.00 price objective on shares of Light & Wonder in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Stifel Nicolaus decreased their price objective on Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a report on Wednesday, September 25th. Finally, Susquehanna decreased their price objective on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th.

Light & Wonder Stock Performance

NASDAQ:LNW opened at $96.42 on Monday. The business’s 50-day moving average price is $96.53 and its two-hundred day moving average price is $99.92. Light & Wonder has a twelve month low of $76.52 and a twelve month high of $115.00. The stock has a market cap of $8.51 billion, a P/E ratio of 29.94, a PEG ratio of 0.58 and a beta of 1.75. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Light & Wonder declared that its board has initiated a stock repurchase program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Light & Wonder

Several institutional investors and hedge funds have recently bought and sold shares of LNW. Ninety One UK Ltd grew its position in shares of Light & Wonder by 128.0% in the 2nd quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after buying an additional 511,081 shares during the last quarter. Millennium Management LLC grew its position in shares of Light & Wonder by 573.3% in the 2nd quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after buying an additional 493,295 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Light & Wonder by 102.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock worth $78,320,000 after buying an additional 388,781 shares during the last quarter. FMR LLC grew its position in shares of Light & Wonder by 28.7% in the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock worth $131,745,000 after buying an additional 324,088 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Light & Wonder in the 3rd quarter worth approximately $25,277,000. 88.08% of the stock is currently owned by institutional investors.

About Light & Wonder

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.