Stifel Nicolaus Issues Pessimistic Forecast for Light & Wonder (NASDAQ:LNW) Stock Price

Light & Wonder (NASDAQ:LNW) had its price objective reduced by equities research analysts at Stifel Nicolaus from $93.00 to $84.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 7.01% from the stock’s current price.

Several other research firms have also recently weighed in on LNW. Benchmark increased their price objective on Light & Wonder from $114.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Macquarie raised their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. Mizuho raised their price objective on shares of Light & Wonder from $76.00 to $80.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.09.

Light & Wonder Trading Up 0.8 %

Shares of Light & Wonder stock traded up $0.63 on Tuesday, hitting $78.50. The stock had a trading volume of 243,292 shares, compared to its average volume of 768,318. The stock’s 50-day simple moving average is $95.56 and its two-hundred day simple moving average is $93.25. Light & Wonder has a one year low of $75.46 and a one year high of $115.00. 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 market cap of $6.63 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 0.35 and a beta of 1.38.

Insider Activity

In other Light & Wonder news, CAO Vanja Kalabic sold 1,132 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $104.41, for a total value of $118,192.12. Following the completion of the transaction, the chief accounting officer now owns 5,016 shares of the company’s stock, valued at approximately $523,720.56. The trade was a 18.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James Sottile sold 2,356 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were 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 in the company, valued at $8,161,513.74. This represents a 2.96 % decrease in their position. 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 90 days. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Light & Wonder

Hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Light & Wonder by 2.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,485 shares of the company’s stock worth $387,000 after acquiring an additional 108 shares during the period. Centaurus Financial Inc. increased its position in shares of Light & Wonder by 3.3% during the 4th quarter. Centaurus Financial Inc. now owns 3,350 shares of the company’s stock valued at $289,000 after purchasing an additional 108 shares during the last quarter. Xponance Inc. lifted its stake in shares of Light & Wonder by 0.7% in the 4th quarter. Xponance Inc. now owns 17,769 shares of the company’s stock worth $1,535,000 after purchasing an additional 120 shares during the period. Simon Quick Advisors LLC boosted its holdings in shares of Light & Wonder by 2.9% in the first quarter. Simon Quick Advisors LLC now owns 4,752 shares of the company’s stock worth $412,000 after buying an additional 136 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in Light & Wonder by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company’s stock valued at $510,000 after buying an additional 146 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 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.