Stifel Nicolaus Cuts Light & Wonder (NASDAQ:LNW) Price Target to $93.00

Light & Wonder (NASDAQ:LNW - Get Free Report) had its price target lowered by equities researchers at Stifel Nicolaus from $104.00 to $93.00 in a report released on Thursday,Benzinga reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' target price would suggest a potential upside of 18.48% from the stock's current price.

LNW has been the subject of a number of other reports. Macquarie lifted their price objective on Light & Wonder from $122.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Jefferies Financial Group boosted their target price on Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Benchmark upped their price target on Light & Wonder from $114.00 to $130.00 and gave the company 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 stock an "underperform" rating in a research note on Wednesday, February 26th. Finally, Citigroup raised shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $109.91.

Light & Wonder Trading Down 0.6 %

Shares of NASDAQ:LNW traded down $0.48 during trading on Thursday, hitting $78.50. 298,496 shares of the company's stock were exchanged, compared to its average volume of 746,732. The firm has a 50-day moving average price of $97.97 and a two-hundred day moving average price of $94.53. The firm has a market cap of $6.63 billion, a P/E ratio of 24.44, a PEG ratio of 0.35 and a beta of 1.38. Light & Wonder has a 1-year low of $75.46 and a 1-year high of $115.00. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49.

Insider Activity

In other Light & Wonder news, CFO Oliver Chow sold 2,595 shares of Light & Wonder stock in a transaction on Friday, March 7th. The shares were sold at an average price of $104.94, for a total value of $272,319.30. Following the sale, the chief financial officer now directly owns 3,695 shares in the company, valued at approximately $387,753.30. The trade was a 41.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP James Sottile sold 2,356 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.54, for a total transaction of $248,652.24. Following the transaction, the vice president now owns 77,331 shares of the company's stock, valued at approximately $8,161,513.74. This represents a 2.96 % 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 worth $1,037,884 over the last three months. Corporate insiders own 2.10% of the company's stock.

Institutional Trading of Light & Wonder

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in shares of Light & Wonder by 4,783.3% during the 1st quarter. Versant Capital Management Inc now owns 293 shares of the company's stock worth $25,000 after purchasing an additional 287 shares during the last quarter. R Squared Ltd bought a new position in shares of Light & Wonder in the fourth quarter valued at $35,000. Quarry LP acquired a new position in Light & Wonder during the third quarter worth $51,000. Blue Trust Inc. raised its position in Light & Wonder by 194.3% during the fourth quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after acquiring an additional 474 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Light & Wonder in the third quarter valued at $104,000. Institutional investors own 88.08% of the company's stock.

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.