Light & Wonder (NASDAQ:LNW) Shares Up 4%

Light & Wonder, Inc. (NASDAQ:LNW) shares rose 4% during mid-day trading on Tuesday . The stock traded as high as $96.96 and last traded at $96.94. Approximately 476,435 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 601,246 shares. The stock had previously closed at $93.25.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LNW shares. Stifel Nicolaus reissued a “hold” rating and set a $103.00 price target (up from $97.00) on shares of Light & Wonder in a research note on Thursday, March 14th. Mizuho lowered their price objective on shares of Light & Wonder from $83.00 to $79.00 and set an “underperform” rating for the company in a research note on Thursday, May 9th. Macquarie increased their price target on shares of Light & Wonder from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Susquehanna cut Light & Wonder from a “positive” rating to a “neutral” rating and cut their price objective for the company from $111.00 to $95.00 in a research report on Friday, May 10th. Finally, Redburn Atlantic cut Light & Wonder from a “buy” rating to a “neutral” rating and raised their target price for the company from $105.00 to $110.00 in a research note on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $95.08.

Light & Wonder Price Performance

The company has a debt-to-equity ratio of 4.61, a quick ratio of 1.72 and a current ratio of 1.98. The stock has a market capitalization of $8.52 billion, a P/E ratio of 39.23 and a beta of 1.80. The firm has a fifty day moving average price of $96.06 and a two-hundred day moving average price of $89.76.

Light & Wonder (NASDAQ:LNW) last announced its earnings results on Tuesday, February 27th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.03). Light & Wonder had a return on equity of 32.27% and a net margin of 7.43%. The firm had revenue of $770.00 million during the quarter, compared to analysts’ expectations of $748.30 million. During the same period in the previous year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts expect that Light & Wonder, Inc. will post 4.2 EPS for the current fiscal year.

Insider Activity

In other news, CAO Vanja Kalabic sold 1,149 shares of Light & Wonder stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $100.72, for a total transaction of $115,727.28. Following the transaction, the chief accounting officer now directly owns 1,600 shares of the company’s stock, valued at approximately $161,152. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Vanja Kalabic sold 1,149 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $100.72, for a total transaction of $115,727.28. Following the completion of the sale, the chief accounting officer now owns 1,600 shares in the company, valued at $161,152. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Siobhan Lane sold 3,566 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $100.73, for a total value of $359,203.18. Following the completion of the transaction, the chief executive officer now directly owns 11,302 shares in the company, valued at $1,138,450.46. The disclosure for this sale can be found here. Insiders sold a total of 7,537 shares of company stock valued at $760,427 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Light & Wonder

A number of hedge funds have recently bought and sold shares of LNW. Ashton Thomas Private Wealth LLC boosted its stake in shares of Light & Wonder by 1.6% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 8,653 shares of the company’s stock worth $883,000 after purchasing an additional 133 shares during the period. Federated Hermes Inc. grew its position in Light & Wonder by 2.0% in the 4th quarter. Federated Hermes Inc. now owns 10,209 shares of the company’s stock valued at $838,000 after acquiring an additional 196 shares during the last quarter. New York State Common Retirement Fund increased its stake in Light & Wonder by 0.6% in the third quarter. New York State Common Retirement Fund now owns 36,200 shares of the company’s stock worth $2,582,000 after purchasing an additional 200 shares during the period. Natixis Advisors L.P. lifted its position in shares of Light & Wonder by 1.6% during the third quarter. Natixis Advisors L.P. now owns 14,525 shares of the company’s stock worth $1,036,000 after purchasing an additional 234 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Light & Wonder by 5.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,321 shares of the company’s stock valued at $441,000 after purchasing an additional 242 shares during the period. Hedge funds and other institutional investors own 88.08% of the company’s stock.

About Light & Wonder

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.