Light & Wonder (NASDAQ:LNW) Trading Up 10.5% – Here’s Why

Light & Wonder, Inc. (NASDAQ:LNW) shares shot up 10.5% during trading on Monday . The stock traded as high as $97.72 and last traded at $97.17. 197,002 shares traded hands during trading, a decline of 66% from the average session volume of 584,467 shares. The stock had previously closed at $87.96.

Analyst Ratings Changes

Several research analysts have weighed in on LNW shares. Jefferies Financial Group lifted their target price on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Benchmark reiterated a “buy” rating and issued a $114.00 price objective on shares of Light & Wonder in a research report on Monday, January 27th. Finally, Truist Financial dropped their price objective on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Light & Wonder has a consensus rating of “Moderate Buy” and an average target price of $108.50.

Light & Wonder Trading Down 3.4 %

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 business’s fifty day moving average is $88.87 and its 200 day moving average is $96.17. The stock has a market cap of $8.33 billion, a PE ratio of 29.30, a P/E/G ratio of 0.30 and a beta of 1.72.

Institutional Investors Weigh In On Light & Wonder

Several institutional investors have recently modified their holdings of the company. True Wealth Design LLC purchased a new stake in shares of Light & Wonder in the third quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new position in Light & Wonder in the 3rd quarter valued at about $29,000. R Squared Ltd purchased a new position in Light & Wonder in the 4th quarter valued at about $35,000. Quarry LP purchased a new position in Light & Wonder in the 3rd quarter valued at about $51,000. Finally, Blue Trust Inc. boosted its stake in shares of Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company’s stock worth $65,000 after purchasing an additional 474 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.