Light & Wonder (NASDAQ:LNW) Raised to “Buy” at Citigroup

Light & Wonder (NASDAQ:LNW) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group raised their target price on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Stifel Nicolaus increased their price target on shares of Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday. Benchmark reissued a “buy” rating and issued a $114.00 price target on shares of Light & Wonder in a report on Wednesday. Finally, Truist Financial lowered their price target on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. One 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.83.

Light & Wonder Stock Up 2.2 %

Shares of Light & Wonder stock traded up $2.28 during trading hours on Wednesday, reaching $103.92. 586,317 shares of the company’s stock were exchanged, compared to its average volume of 648,213. The company has a 50 day moving average of $88.98 and a two-hundred day moving average of $95.90. Light & Wonder has a fifty-two week low of $84.00 and a fifty-two week high of $115.00. 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 market cap of $9.18 billion, a P/E ratio of 32.27, a P/E/G ratio of 0.33 and a beta of 1.72.

Institutional Investors Weigh In On Light & Wonder

Several hedge funds have recently modified their holdings of LNW. Allspring Global Investments Holdings LLC acquired a new stake in shares of Light & Wonder during the 3rd quarter valued at $108,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Light & Wonder during the 3rd quarter valued at $420,000. State of Alaska Department of Revenue boosted its holdings in shares of Light & Wonder by 5.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 10,305 shares of the company’s stock valued at $934,000 after acquiring an additional 535 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Light & Wonder by 0.9% during the 3rd quarter. New York State Teachers Retirement System now owns 84,365 shares of the company’s stock valued at $7,654,000 after acquiring an additional 719 shares in the last quarter. Finally, Iridian Asset Management LLC CT boosted its holdings in shares of Light & Wonder by 12.1% during the 3rd quarter. Iridian Asset Management LLC CT now owns 51,571 shares of the company’s stock valued at $4,679,000 after acquiring an additional 5,570 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Company Profile

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.