Light & Wonder (NASDAQ:LNW) Price Target Cut to $84.00 by Analysts at Stifel Nicolaus

Light & Wonder (NASDAQ:LNW - Get Free Report) had its target price decreased by equities research analysts at Stifel Nicolaus from $93.00 to $84.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus' price target would suggest a potential upside of 0.96% from the stock's current price.

A number of other equities analysts have also recently commented on the stock. Benchmark lifted their price target on shares of Light & Wonder from $114.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Mizuho lifted their price objective on shares of Light & Wonder from $76.00 to $80.00 and gave the company an "underperform" rating in a report on Wednesday, February 26th. Citigroup upgraded shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group increased their price objective on Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $108.64.

Light & Wonder Trading Down 0.5 %

Shares of NASDAQ:LNW traded down $0.44 during trading on Tuesday, hitting $83.20. The company had a trading volume of 47,153 shares, compared to its average volume of 769,801. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 0.35 and a beta of 1.38. 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 company has a fifty day simple moving average of $94.65 and a two-hundred day simple moving average of $93.02. Light & Wonder has a one year low of $75.46 and a one year high of $115.00.

Insider Activity at Light & Wonder

In other Light & Wonder news, VP James Sottile sold 2,356 shares of Light & Wonder stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $105.54, for a total value of $248,652.24. Following the transaction, the vice president now directly owns 77,331 shares of the company's stock, valued at approximately $8,161,513.74. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Vanja Kalabic sold 1,132 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $104.41, for a total value of $118,192.12. Following the transaction, the chief accounting officer now directly owns 5,016 shares in the company, valued at approximately $523,720.56. The trade was a 18.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,867 shares of company stock valued at $1,037,884 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV lifted its stake in shares of Light & Wonder by 3.8% during the first quarter. KBC Group NV now owns 3,746 shares of the company's stock worth $324,000 after buying an additional 137 shares during the period. Bessemer Group Inc. boosted its position in Light & Wonder by 321.7% in the 1st quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company's stock worth $136,152,000 after purchasing an additional 1,199,213 shares in the last quarter. Steph & Co. purchased a new stake in Light & Wonder in the 1st quarter worth approximately $149,000. State of Alaska Department of Revenue grew its stake in shares of Light & Wonder by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 10,345 shares of the company's stock worth $895,000 after purchasing an additional 280 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in Light & Wonder during the first quarter worth $909,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

About Light & Wonder

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.