Light & Wonder’s (LNW) Buy Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of Light & Wonder (NASDAQ:LNW) in a report published on Wednesday morning,Benzinga reports. Benchmark currently has a $114.00 target price on the stock.

A number of other analysts also recently issued reports on the company. Jefferies Financial Group lifted their price target on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Truist Financial dropped their target price on Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.25.

Light & Wonder Stock Performance

Shares of LNW opened at $105.99 on Wednesday. The company has a market cap of $9.36 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 0.33 and a beta of 1.72. 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 stock has a 50-day moving average price of $89.24 and a 200-day moving average price of $95.97. Light & Wonder has a 12-month low of $84.00 and a 12-month high of $115.00.

Hedge Funds Weigh In On Light & Wonder

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Light & Wonder by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock worth $733,584,000 after purchasing an additional 100,527 shares during the period. State Street Corp increased its stake in Light & Wonder by 2.2% in the 3rd quarter. State Street Corp now owns 2,651,627 shares of the company’s stock worth $240,582,000 after purchasing an additional 56,890 shares during the period. Burgundy Asset Management Ltd. increased its stake in Light & Wonder by 2.0% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company’s stock worth $127,198,000 after purchasing an additional 28,358 shares during the period. FMR LLC increased its stake in Light & Wonder by 28.7% in the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock worth $131,745,000 after purchasing an additional 324,088 shares during the period. Finally, Norges Bank purchased a new position in Light & Wonder in the 4th quarter worth approximately $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.