Light & Wonder (NASDAQ:LNW) Stock Price Up 8.4% Following Analyst Upgrade

Light & Wonder, Inc. (NASDAQ:LNW) shares were up 8.4% on Wednesday after Mizuho raised their price target on the stock from $76.00 to $80.00. Mizuho currently has an underperform rating on the stock. Light & Wonder traded as high as $110.28 and last traded at $110.20. Approximately 830,700 shares changed hands during trading, an increase of 17% from the average daily volume of 712,994 shares. The stock had previously closed at $101.63.

LNW has been the subject of a number of other research reports. Benchmark reissued a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a report on Wednesday, February 19th. Jefferies Financial Group lifted their target price on Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Stifel Nicolaus boosted their price target on Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, February 19th. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Macquarie boosted their price target on Light & Wonder from $122.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Light & Wonder presently has an average rating of “Moderate Buy” and a consensus target price of $109.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Burgundy Asset Management Ltd. grew its position in Light & Wonder by 2.0% in 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Light & Wonder by 13.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,411 shares of the company’s stock valued at $20,335,000 after acquiring an additional 28,560 shares during the last quarter. Royal Bank of Canada grew its position in Light & Wonder by 1,752.9% in the fourth quarter. Royal Bank of Canada now owns 157,073 shares of the company’s stock valued at $13,568,000 after acquiring an additional 148,596 shares during the last quarter. ProShare Advisors LLC grew its position in Light & Wonder by 6.8% in the fourth quarter. ProShare Advisors LLC now owns 4,131 shares of the company’s stock valued at $357,000 after acquiring an additional 263 shares during the last quarter. Finally, Nomura Holdings Inc. grew its position in Light & Wonder by 16.5% in the fourth quarter. Nomura Holdings Inc. now owns 31,022 shares of the company’s stock valued at $2,680,000 after acquiring an additional 4,391 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Performance

The stock has a market cap of $9.59 billion, a P/E ratio of 33.73, a PEG ratio of 0.35 and a beta of 1.72. 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 stock has a 50-day simple moving average of $90.54 and a 200-day simple moving average of $96.08.

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.