Light & Wonder (NASDAQ:LNW) Shares Up 8.4% Following Analyst Upgrade

Light & Wonder, Inc. (NASDAQ:LNW) shares rose 8.4% on Wednesday after Mizuho raised their price target on the stock from $76.00 to $80.00. Mizuho currently has an underperform rating on the stock. Light & Wonder traded as high as $110.28 and last traded at $110.20. Approximately 830,700 shares were traded during trading, an increase of 17% from the average daily volume of 712,994 shares. The stock had previously closed at $101.63.

Several other brokerages have also recently weighed in on LNW. Jefferies Financial Group raised their price target on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Macquarie raised their price target on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday. Stifel Nicolaus raised their price target on shares of Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. raised their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Light & Wonder presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.50.

Hedge Funds Weigh In On Light & Wonder

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new position in Light & Wonder during the third quarter worth $28,000. Capital Performance Advisors LLP bought a new position in Light & Wonder during the third quarter worth $29,000. R Squared Ltd bought a new position in Light & Wonder during the fourth quarter worth $35,000. Quarry LP bought a new position in Light & Wonder during the third quarter worth $51,000. Finally, Blue Trust Inc. boosted its position in Light & Wonder by 194.3% during the fourth quarter. Blue Trust Inc. now owns 718 shares of the company’s stock worth $65,000 after purchasing an additional 474 shares during the period. 88.08% of the stock is owned by institutional investors.

Light & Wonder Stock Performance

The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. The stock’s 50-day simple moving average is $90.54 and its 200 day simple moving average is $96.08. The stock has a market capitalization of $9.59 billion, a P/E ratio of 33.73, a PEG ratio of 0.35 and a beta of 1.72.

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.