Light & Wonder (NASDAQ:LNW) Upgraded at Citigroup

Light & Wonder (NASDAQ:LNW - Get Free Report) was upgraded by research analysts at Citigroup from a "neutral" rating to a "buy" rating in a research note issued on Wednesday, MarketBeat reports.

A number of other analysts have also commented on LNW. Stifel Nicolaus lifted their price objective on Light & Wonder from $90.00 to $104.00 and gave the stock a "hold" rating in a research report on Wednesday. Benchmark reaffirmed a "buy" rating and issued a $114.00 target price on shares of Light & Wonder in a research note on Wednesday. Truist Financial dropped their price target on shares of Light & Wonder from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group lifted their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.25.

Light & Wonder Trading Down 2.9 %

LNW traded down $3.06 during mid-day trading on Wednesday, reaching $101.83. The stock had a trading volume of 788,115 shares, compared to its average volume of 704,774. The stock has a market capitalization of $8.99 billion, a P/E ratio of 31.62, a P/E/G ratio of 0.36 and a beta of 1.72. Light & Wonder has a 52 week low of $84.00 and a 52 week high of $115.00. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The firm's fifty day simple moving average is $89.47 and its two-hundred day simple moving average is $96.04.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Light & Wonder during the fourth quarter worth about $91,683,000. Park West Asset Management LLC bought a new stake in Light & Wonder during the 4th quarter worth approximately $46,241,000. FMR LLC raised its holdings in Light & Wonder by 28.7% during the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company's stock worth $131,745,000 after buying an additional 324,088 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Light & Wonder in the third quarter valued at approximately $25,277,000. Finally, Bank of Nova Scotia acquired a new position in shares of Light & Wonder in the fourth quarter valued at approximately $16,020,000. 88.08% of the stock is owned by institutional investors and hedge funds.

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.