Light & Wonder (NASDAQ:LNW) Price Target Lowered to $100.00 at Benchmark

Light & Wonder (NASDAQ:LNW) had its price target dropped by analysts at Benchmark from $130.00 to $100.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 16.25% from the stock’s current price.

Several other equities research analysts have also recently weighed in on LNW. Macquarie dropped their target price on Light & Wonder from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Jefferies Financial Group upped their price target on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Stifel Nicolaus raised their price target on Light & Wonder from $84.00 to $95.00 and gave the company a “hold” rating in a report on Thursday. Finally, Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Light & Wonder presently has an average rating of “Moderate Buy” and an average price target of $106.82.

Light & Wonder Price Performance

Shares of Light & Wonder stock traded up $4.53 on Monday, reaching $86.02. The stock had a trading volume of 247,968 shares, compared to its average volume of 803,898. Light & Wonder has a 1 year low of $75.46 and a 1 year high of $115.00. The business’s 50 day moving average is $90.64 and its two-hundred day moving average is $92.48. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. The company has a market cap of $7.26 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 0.35 and a beta of 1.30.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.23). The company had revenue of $774.00 million during the quarter, compared to the consensus estimate of $802.93 million. Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.88 earnings per share. As a group, research analysts anticipate that Light & Wonder will post 4.3 EPS for the current year.

Insider Activity at Light & Wonder

In other news, CEO Siobhan Lane sold 3,784 shares of Light & Wonder stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $105.37, for a total value of $398,720.08. Following the sale, the chief executive officer now directly owns 21,254 shares of the company’s stock, valued at approximately $2,239,533.98. The trade was a 15.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Vanja Kalabic sold 1,132 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $104.41, for a total value of $118,192.12. Following the transaction, the chief accounting officer now directly owns 5,016 shares of the company’s stock, valued at approximately $523,720.56. The trade was a 18.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,867 shares of company stock worth $1,037,884. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LNW. Vanguard Group Inc. raised its position in shares of Light & Wonder by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock valued at $733,584,000 after buying an additional 100,527 shares in the last quarter. Bessemer Group Inc. increased its position in Light & Wonder by 321.7% during the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company’s stock valued at $136,152,000 after acquiring an additional 1,199,213 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Light & Wonder by 2.0% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company’s stock valued at $127,198,000 after acquiring an additional 28,358 shares during the period. Ninety One UK Ltd boosted its stake in shares of Light & Wonder by 56.7% during the 1st quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company’s stock worth $101,728,000 after purchasing an additional 425,202 shares during the period. Finally, Norges Bank purchased a new position in shares of Light & Wonder during the 4th quarter worth about $91,683,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

About Light & Wonder

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.