Light & Wonder (NASDAQ:LNW) Hits New 1-Year High at $110.65

Light & Wonder, Inc. (NASDAQ:LNW)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $110.65 and last traded at $110.39, with a volume of 11423 shares traded. The stock had previously closed at $109.82.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Truist Financial upped their price objective on Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Maxim Group assumed coverage on Light & Wonder in a research report on Monday, August 26th. They issued a “buy” rating and a $144.00 price objective on the stock. Macquarie upped their price objective on Light & Wonder from $120.00 to $122.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Susquehanna lowered Light & Wonder from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $111.00 to $95.00 in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $106.36.

Light & Wonder Trading Down 0.8 %

The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 44.73, a P/E/G ratio of 0.46 and a beta of 1.77. The company has a 50 day moving average price of $104.87 and a two-hundred day moving average price of $99.51.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.14). Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The firm had revenue of $818.00 million during the quarter, compared to analyst estimates of $798.09 million. During the same period in the prior year, the company posted $1.02 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts forecast that Light & Wonder, Inc. will post 4.44 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in Light & Wonder in the 1st quarter valued at $38,000. Fidelis Capital Partners LLC acquired a new position in Light & Wonder in the 1st quarter valued at $38,000. GAMMA Investing LLC raised its stake in Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after purchasing an additional 152 shares during the last quarter. USA Financial Formulas purchased a new stake in Light & Wonder in the 4th quarter valued at $62,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Light & Wonder in the 4th quarter valued at $69,000. 88.08% of the stock is owned by institutional investors and hedge funds.

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.