Mizuho Lowers Light & Wonder (NASDAQ:LNW) Price Target to $79.00

Light & Wonder (NASDAQ:LNW) had its price target dropped by stock analysts at Mizuho from $83.00 to $79.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Mizuho’s price target would indicate a potential downside of 18.15% from the company’s previous close.

Several other equities analysts also recently issued reports on the company. Macquarie upped their target price on Light & Wonder from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $103.00 price target (up previously from $97.00) on shares of Light & Wonder in a report on Thursday, March 14th. Susquehanna raised their price target on shares of Light & Wonder from $100.00 to $111.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Benchmark assumed coverage on shares of Light & Wonder in a research note on Tuesday, January 16th. They issued a “buy” rating and a $92.00 price objective on the stock. Finally, Truist Financial upped their price target on shares of Light & Wonder from $90.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Light & Wonder has an average rating of “Moderate Buy” and an average price target of $96.42.

Light & Wonder Stock Down 1.3 %

Shares of LNW stock opened at $96.52 on Thursday. The stock’s fifty day moving average price is $97.69 and its 200 day moving average price is $88.39. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.88 and a quick ratio of 1.63. Light & Wonder has a 1-year low of $56.01 and a 1-year high of $108.90. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 54.84 and a beta of 1.80.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.03). The company had revenue of $770.00 million for the quarter, compared to analyst estimates of $748.30 million. Light & Wonder had a net margin of 5.58% and a return on equity of 23.68%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 EPS. On average, research analysts expect that Light & Wonder will post 3.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Light & Wonder

In other news, CEO Siobhan Lane sold 3,566 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $100.73, for a total value of $359,203.18. Following the completion of the sale, the chief executive officer now owns 11,302 shares of the company’s stock, valued at approximately $1,138,450.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Siobhan Lane sold 3,566 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $100.73, for a total transaction of $359,203.18. Following the completion of the transaction, the chief executive officer now directly owns 11,302 shares in the company, valued at approximately $1,138,450.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Vanja Kalabic sold 1,149 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $100.72, for a total transaction of $115,727.28. Following the completion of the sale, the chief accounting officer now owns 1,600 shares in the company, valued at $161,152. The disclosure for this sale can be found here. Insiders sold a total of 7,537 shares of company stock worth $760,427 in the last three months. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Light & Wonder

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of Light & Wonder by 30.8% in the third quarter. SG Americas Securities LLC now owns 2,256 shares of the company’s stock valued at $161,000 after purchasing an additional 531 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Light & Wonder by 21.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,784 shares of the company’s stock worth $1,055,000 after acquiring an additional 2,575 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Light & Wonder by 0.7% in the third quarter. Teacher Retirement System of Texas now owns 73,803 shares of the company’s stock valued at $5,264,000 after acquiring an additional 525 shares in the last quarter. Duality Advisers LP purchased a new position in Light & Wonder in the third quarter valued at $565,000. Finally, Arizona State Retirement System boosted its holdings in Light & Wonder by 1.5% in the third quarter. Arizona State Retirement System now owns 25,944 shares of the company’s stock valued at $1,851,000 after purchasing an additional 384 shares during the period. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Light & Wonder Company Profile

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.