Light & Wonder (NASDAQ:LNW) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Light & Wonder (NASDAQ:LNW) had its price objective lifted by research analysts at Jefferies Financial Group from $120.00 to $121.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 35.44% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus reduced their target price on shares of Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a research report on Wednesday, September 25th. Susquehanna cut their price objective on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Truist Financial cut their price target on Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Craig Hallum upgraded Light & Wonder to a “strong-buy” rating in a research note on Friday, October 4th. Finally, B. Riley assumed coverage on Light & Wonder in a research report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $108.50.

Light & Wonder Stock Up 2.9 %

Light & Wonder stock traded up $2.53 during midday trading on Wednesday, hitting $89.34. 354,392 shares of the company were exchanged, compared to its average volume of 617,408. The company has a market cap of $7.89 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 0.55 and a beta of 1.73. Light & Wonder has a fifty-two week low of $77.65 and a fifty-two week high of $115.00. The company’s fifty day moving average price is $91.99 and its 200-day moving average price is $98.30. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61.

Institutional Investors Weigh In On Light & Wonder

Several institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC grew its holdings in shares of Light & Wonder by 573.3% during the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock valued at $60,761,000 after purchasing an additional 493,295 shares during the last quarter. FMR LLC lifted its holdings 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 purchasing an additional 324,088 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Light & Wonder during the 3rd quarter valued at approximately $25,277,000. Susquehanna Fundamental Investments LLC bought a new position in Light & Wonder during the 2nd quarter worth $23,597,000. Finally, Barclays PLC increased its position in Light & Wonder by 539.6% in the third quarter. Barclays PLC now owns 155,852 shares of the company’s stock worth $14,142,000 after buying an additional 131,486 shares during the period. Institutional investors and hedge funds 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.