Macquarie Forecasts Strong Price Appreciation for Light & Wonder (NASDAQ:LNW) Stock

Light & Wonder (NASDAQ:LNW - Free Report) had its target price hoisted by Macquarie from $117.00 to $122.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on LNW. Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday. Truist Financial reduced their target price on Light & Wonder from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. Stifel Nicolaus increased their target price on Light & Wonder from $90.00 to $104.00 and gave the company a "hold" rating in a research note on Wednesday. Jefferies Financial Group increased their target price on Light & Wonder from $120.00 to $121.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Finally, Benchmark reissued a "buy" rating and issued a $114.00 target price on shares of Light & Wonder in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued 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 has a consensus rating of "Moderate Buy" and an average target price of $109.25.

Light & Wonder Price Performance

LNW traded down $3.06 during 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 cap of $8.99 billion, a PE ratio of 31.62, a PEG ratio of 0.36 and a beta of 1.72. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. Light & Wonder has a one year low of $84.00 and a one year high of $115.00. The business has a 50-day moving average of $89.67 and a 200-day moving average of $96.07.

Institutional Trading of Light & Wonder

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Light & Wonder by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company's stock worth $733,584,000 after purchasing an additional 100,527 shares during the period. State Street Corp boosted its holdings in shares of Light & Wonder by 2.2% during the third quarter. State Street Corp now owns 2,651,627 shares of the company's stock worth $240,582,000 after purchasing an additional 56,890 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in shares of Light & Wonder by 2.0% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company's stock worth $127,198,000 after purchasing an additional 28,358 shares during the period. FMR LLC boosted its holdings in shares of Light & Wonder by 28.7% during the third quarter. FMR LLC now owns 1,452,052 shares of the company's stock worth $131,745,000 after purchasing an additional 324,088 shares during the period. Finally, Norges Bank purchased a new stake in shares of Light & Wonder during the fourth quarter worth about $91,683,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.