Stifel Nicolaus Forecasts Strong Price Appreciation for Light & Wonder (NASDAQ:LNW) Stock

Light & Wonder (NASDAQ:LNW) had its price target upped by equities research analysts at Stifel Nicolaus from $90.00 to $104.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential downside of 1.08% from the stock’s previous close.

LNW has been the subject of a number of other reports. Truist Financial lowered their target price on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group lifted their target price 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. Finally, Benchmark reiterated a “buy” rating and issued a $114.00 target price on shares of Light & Wonder in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $108.83.

Light & Wonder Stock Up 8.4 %

NASDAQ:LNW opened at $105.13 on Wednesday. Light & Wonder has a fifty-two week low of $84.00 and a fifty-two week high of $115.00. The stock has a market capitalization of $9.28 billion, a P/E ratio of 32.65, a P/E/G ratio of 0.33 and a beta of 1.72. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The company’s 50-day simple moving average is $88.98 and its 200-day simple moving average is $95.90.

Institutional Investors Weigh In On Light & Wonder

A number of institutional investors have recently added to or reduced their stakes in LNW. Norges Bank acquired a new stake in Light & Wonder in the 4th quarter valued at $91,683,000. Park West Asset Management LLC acquired a new stake in Light & Wonder in the 4th quarter valued at $46,241,000. FMR LLC grew 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 valued at $131,745,000 after acquiring an additional 324,088 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Light & Wonder in the 3rd quarter valued at $25,277,000. Finally, Bank of Nova Scotia acquired a new stake in Light & Wonder in the 4th quarter valued at $16,020,000. Institutional investors and hedge funds 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.