Mizuho Begins Coverage on Light & Wonder (NASDAQ:LNW)

Mizuho assumed coverage on shares of Light & Wonder (NASDAQ:LNW) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The firm issued an underperform rating and a $83.00 price objective on the stock.

A number of other analysts have also weighed in on LNW. Susquehanna increased their price objective on Light & Wonder from $100.00 to $111.00 and gave the company a positive rating in a research note on Wednesday, February 28th. Redburn Atlantic cut shares of Light & Wonder from a buy rating to a neutral rating and increased their price target for the company from $105.00 to $110.00 in a research report on Monday, March 11th. Macquarie boosted their price objective on shares of Light & Wonder from $100.00 to $115.00 and gave the company an outperform rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. increased their target price on shares of Light & Wonder from $98.00 to $107.00 and gave the stock an overweight rating in a report on Wednesday, February 28th. Finally, Benchmark began coverage on Light & Wonder in a research report on Tuesday, January 16th. They issued a buy rating and a $92.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $96.75.

Light & Wonder Trading Down 1.8 %

Shares of Light & Wonder stock opened at $102.09 on Tuesday. The company has a 50 day simple moving average of $93.33 and a two-hundred day simple moving average of $84.28. Light & Wonder has a 1 year low of $56.01 and a 1 year high of $108.90. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.88 and a quick ratio of 1.63. The firm has a market cap of $9.17 billion, a PE ratio of 58.01 and a beta of 1.77.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.03). The company had revenue of $770.00 million during the quarter, compared to analysts’ expectations of $748.30 million. Light & Wonder had a return on equity of 23.68% and a net margin of 5.58%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 EPS. Analysts expect that Light & Wonder will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP James Sottile sold 1,549 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $101.15, for a total transaction of $156,681.35. Following the sale, the vice president now owns 57,478 shares of the company’s stock, valued at $5,813,899.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Light & Wonder news, VP James Sottile sold 1,549 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $101.15, for a total value of $156,681.35. Following the sale, the vice president now directly owns 57,478 shares of the company’s stock, valued at $5,813,899.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Oliver Chow sold 1,273 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $101.19, for a total value of $128,814.87. Following the completion of the sale, the chief financial officer now directly owns 1,517 shares in the company, valued at $153,505.23. The disclosure for this sale can be found here. Insiders sold a total of 7,537 shares of company stock worth $760,427 in the last three months. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Light & Wonder

A number of large investors have recently made changes to their positions in the stock. Federated Hermes Inc. lifted its holdings in Light & Wonder by 2.0% in the fourth 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 period. New York State Common Retirement Fund boosted its holdings in shares of 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 buying an additional 200 shares during the last quarter. Toroso Investments LLC grew its position in Light & Wonder by 3.1% during the third quarter. Toroso Investments LLC now owns 6,772 shares of the company’s stock valued at $483,000 after buying an additional 206 shares during the period. Natixis Advisors L.P. increased its holdings in Light & Wonder by 1.6% during the third quarter. Natixis Advisors L.P. now owns 14,525 shares of the company’s stock valued at $1,036,000 after buying an additional 234 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in Light & Wonder by 44.1% in the fourth quarter. Quadrant Capital Group LLC now owns 869 shares of the company’s stock worth $71,000 after acquiring an additional 266 shares during the period. 88.08% of the stock is currently owned by institutional investors.

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.