Light & Wonder (NASDAQ:LNW) Stock Price Down 6.9%

Light & Wonder, Inc. (NASDAQ:LNWGet Rating) shares fell 6.9% during mid-day trading on Wednesday . The stock traded as low as $44.97 and last traded at $44.98. 1,205,468 shares changed hands during mid-day trading, an increase of 55% from the average session volume of 779,948 shares. The stock had previously closed at $48.30.

Analysts Set New Price Targets

Several equities research analysts have commented on LNW shares. Susquehanna cut their target price on Light & Wonder from $55.00 to $47.00 in a research note on Wednesday, August 10th. Truist Financial dropped their price target on Light & Wonder from $85.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Susquehanna Bancshares decreased their price objective on Light & Wonder from $55.00 to $47.00 in a report on Wednesday, August 10th. Stifel Nicolaus decreased their price objective on Light & Wonder from $61.00 to $51.00 in a report on Monday, August 1st. Finally, Credit Suisse Group reduced their target price on Light & Wonder from $49.00 to $47.00 and set an “underperform” rating on the stock in a report on Thursday, August 11th.

Light & Wonder Stock Performance

The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 1.11 and a beta of 1.69. The company has a quick ratio of 1.29, a current ratio of 1.39 and a debt-to-equity ratio of 4.01. The business has a 50 day moving average price of $50.73.

Light & Wonder (NASDAQ:LNWGet Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.08). The firm had revenue of $610.00 million during the quarter, compared to analysts’ expectations of $597.72 million. Light & Wonder had a negative return on equity of 5.63% and a net margin of 156.19%. On average, equities analysts anticipate that Light & Wonder, Inc. will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, major shareholder Fine Capital Partners, L.P. sold 40,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $52.15, for a total transaction of $2,086,000.00. Following the sale, the insider now directly owns 9,449,622 shares of the company’s stock, valued at $492,797,787.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.40% of the company’s stock.

Light & Wonder Company Profile

(Get Rating)

Light & Wonder, Inc develops technology-based products and services, and related content for the gaming, lottery, social and digital gaming industries in the United States and internationally. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; table products, including shufflers; and perpetual licenses to proprietary table games.

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