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

Light & Wonder, Inc. (NASDAQ:LNW) has been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $107.36.

Several equities research analysts have recently weighed in on LNW shares. Stifel Nicolaus decreased their price objective on shares of Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on shares of Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $114.00 target price on shares of Light & Wonder in a research note on Thursday, August 8th. Macquarie dropped their price target on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Finally, Craig Hallum raised Light & Wonder to a “strong-buy” rating in a research note on Friday, October 4th.

Light & Wonder Trading Up 2.1 %

LNW opened at $96.42 on Monday. Light & Wonder has a twelve month low of $76.52 and a twelve month high of $115.00. 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 fifty day moving average of $96.53 and a 200-day moving average of $99.92. The stock has a market cap of $8.51 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75.

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

Institutional Investors Weigh In On Light & Wonder

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in shares of Light & Wonder in the third quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new position in Light & Wonder in the 3rd quarter valued at $29,000. GAMMA Investing LLC grew its stake in Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after purchasing an additional 152 shares during the period. Quarry LP bought a new position in Light & Wonder in the 3rd quarter valued at $51,000. Finally, Neo Ivy Capital Management bought a new position in Light & Wonder in the 3rd quarter valued at $104,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.