Light & Wonder (NASDAQ:LNW) Coverage Initiated at Maxim Group

Maxim Group began coverage on shares of Light & Wonder (NASDAQ:LNW) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $144.00 price target on the stock.

A number of other brokerages also recently commented on LNW. Truist Financial upped their target price on Light & Wonder from $115.00 to $120.00 and gave the company a buy rating in a report on Thursday, July 18th. Benchmark reaffirmed a buy rating and issued a $114.00 price target on shares of Light & Wonder in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price target on Light & Wonder from $76.00 to $81.00 and gave the stock a hold rating in a research note on Thursday, August 8th. Macquarie upped their price target on Light & Wonder from $120.00 to $122.00 and gave the stock an outperform rating in a research note on Thursday, August 8th. Finally, Susquehanna cut Light & Wonder from a positive rating to a neutral rating and reduced their price target for the stock from $111.00 to $95.00 in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $106.36.

Light & Wonder Price Performance

Shares of Light & Wonder stock opened at $108.52 on Monday. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90. The company has a market cap of $9.63 billion, a PE ratio of 45.03, a P/E/G ratio of 0.45 and a beta of 1.79. The business has a 50 day moving average of $104.37 and a 200 day moving average of $98.84. Light & Wonder has a 52 week low of $67.71 and a 52 week high of $110.57.

Light & Wonder (NASDAQ:LNW) last announced its earnings results on Wednesday, August 7th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). The business had revenue of $818.00 million for the quarter, compared to the consensus estimate of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. Light & Wonder’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 EPS. As a group, equities research analysts forecast that Light & Wonder will post 4.44 earnings per share for the current year.

Institutional Investors Weigh In On Light & Wonder

A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in shares of Light & Wonder by 121.6% during the second quarter. SG Americas Securities LLC now owns 14,263 shares of the company’s stock valued at $1,496,000 after buying an additional 7,828 shares during the last quarter. M&G Plc purchased a new stake in shares of Light & Wonder during the first quarter valued at $10,570,000. Cibc World Markets Corp purchased a new stake in shares of Light & Wonder during the fourth quarter valued at $5,748,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Light & Wonder by 1,626.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,807 shares of the company’s stock valued at $723,000 after buying an additional 8,297 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Light & Wonder during the fourth quarter valued at $807,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

About Light & Wonder

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.