Light & Wonder (NASDAQ:LNW) Shares Up 10.5% – Still a Buy?

Light & Wonder, Inc. (NASDAQ:LNW)’s share price shot up 10.5% on Monday . The company traded as high as $97.72 and last traded at $97.17. 197,002 shares changed hands during trading, a decline of 66% from the average session volume of 584,467 shares. The stock had previously closed at $87.96.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Light & Wonder in a research report on Monday, January 27th. Jefferies Financial Group increased their price objective on shares of Light & Wonder from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Truist Financial decreased 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Light & Wonder has an average rating of “Moderate Buy” and a consensus price target of $108.50.

Light & Wonder Trading Down 3.4 %

The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 0.30 and a beta of 1.72. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The business has a 50 day moving average price of $88.87 and a 200-day moving average price of $96.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC acquired a new stake in Light & Wonder during the 3rd quarter valued at approximately $28,000. Capital Performance Advisors LLP purchased a new position in shares of Light & Wonder during the 3rd quarter valued at approximately $29,000. R Squared Ltd acquired a new stake in shares of Light & Wonder during the fourth quarter worth approximately $35,000. Quarry LP bought a new stake in shares of Light & Wonder in the third quarter worth $51,000. Finally, Blue Trust Inc. increased its stake in shares of Light & Wonder by 194.3% in the fourth quarter. Blue Trust Inc. now owns 718 shares of the company’s stock worth $65,000 after buying an additional 474 shares during the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.