Light & Wonder (NASDAQ:LNW) Trading Up 8.4% on Analyst Upgrade

Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) traded up 8.4% during trading on Wednesday after Benchmark raised their price target on the stock from $114.00 to $130.00. Benchmark currently has a buy rating on the stock. Light & Wonder traded as high as $110.28 and last traded at $110.20. 830,700 shares traded hands during trading, an increase of 17% from the average session volume of 712,994 shares. The stock had previously closed at $101.63.

A number of other brokerages have also recently commented on LNW. JPMorgan Chase & Co. raised their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday. Macquarie lifted their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday. Mizuho increased their target price on Light & Wonder from $76.00 to $80.00 and gave the company an "underperform" rating in a report on Wednesday. Citigroup raised shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group upped their price objective on shares of Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $110.83.

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Institutional Investors Weigh In On Light & Wonder

A number of institutional investors have recently made changes to their positions in LNW. True Wealth Design LLC purchased a new stake in Light & Wonder during the third quarter worth about $28,000. Capital Performance Advisors LLP acquired a new position in Light & Wonder in the third quarter valued at approximately $29,000. R Squared Ltd purchased a new position in shares of Light & Wonder during the fourth quarter worth about $35,000. Quarry LP purchased a new position in shares of Light & Wonder during the third quarter worth approximately $51,000. Finally, Blue Trust Inc. grew its position in Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after purchasing an additional 474 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Light & Wonder Stock Performance

The stock has a market cap of $9.42 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 0.35 and a beta of 1.72. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The stock has a fifty day moving average of $91.55 and a 200-day moving average of $96.17.

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.