Susquehanna Lowers Light & Wonder (NASDAQ:LNW) to Neutral

Light & Wonder (NASDAQ:LNW) was downgraded by analysts at Susquehanna from a “positive” rating to a “neutral” rating in a research note issued on Friday, Marketbeat Ratings reports. They currently have a $95.00 price objective on the stock, down from their previous price objective of $111.00. Susquehanna’s price target indicates a potential upside of 3.77% from the stock’s previous close.

A number of other research firms have also commented on LNW. Redburn Atlantic lowered Light & Wonder from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $105.00 to $110.00 in a research note on Monday, March 11th. JPMorgan Chase & Co. raised their target price on Light & Wonder from $98.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Macquarie upped their price target on Light & Wonder from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Mizuho reduced their price objective on Light & Wonder from $83.00 to $79.00 and set an “underperform” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $103.00 target price (up previously from $97.00) on shares of Light & Wonder in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Light & Wonder currently has an average rating of “Hold” and a consensus price target of $95.08.

Light & Wonder Stock Performance

Shares of NASDAQ LNW opened at $91.55 on Friday. The business’s 50-day simple moving average is $97.51 and its 200-day simple moving average is $88.41. The company has a debt-to-equity ratio of 5.04, a quick ratio of 1.63 and a current ratio of 1.88. Light & Wonder has a 52 week low of $56.01 and a 52 week high of $108.90. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 52.02 and a beta of 1.80.

Light & Wonder (NASDAQ:LNW) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.03). Light & Wonder had a net margin of 5.58% and a return on equity of 23.68%. The company had revenue of $770.00 million for the quarter, compared to analyst estimates of $748.30 million. During the same quarter last year, the business earned $0.12 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities research analysts expect that Light & Wonder will post 3.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Light & Wonder

In other Light & Wonder news, VP James Sottile sold 1,549 shares of the company’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 in the company, valued at $5,813,899.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Vanja Kalabic sold 1,149 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $100.72, for a total transaction of $115,727.28. Following the transaction, the chief accounting officer now owns 1,600 shares in the company, valued at approximately $161,152. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP James Sottile sold 1,549 shares of the firm’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 completion of the sale, the vice president now owns 57,478 shares of the company’s stock, valued at approximately $5,813,899.70. The disclosure for this sale can be found here. Insiders have sold 7,537 shares of company stock valued at $760,427 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Light & Wonder

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC lifted its position in Light & Wonder by 1.6% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 8,653 shares of the company’s stock valued at $883,000 after purchasing an additional 133 shares during the period. 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 buying an additional 196 shares during the period. New York State Common Retirement Fund boosted 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 valued at $2,582,000 after acquiring an additional 200 shares during the last quarter. Natixis Advisors L.P. grew its holdings in Light & Wonder by 1.6% during the 3rd quarter. Natixis Advisors L.P. now owns 14,525 shares of the company’s stock worth $1,036,000 after acquiring an additional 234 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Light & Wonder by 44.1% during the 4th quarter. Quadrant Capital Group LLC now owns 869 shares of the company’s stock valued at $71,000 after acquiring an additional 266 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Company Profile

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.