JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Light & Wonder (NASDAQ:LNW) Stock

Light & Wonder (NASDAQ:LNW) had its price target increased by JPMorgan Chase & Co. from $103.00 to $110.00 in a research report report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts also recently commented on LNW. Jefferies Financial Group raised their target price 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. Citigroup upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Benchmark restated a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a report on Wednesday, February 19th. Stifel Nicolaus raised their target price on shares of Light & Wonder from $90.00 to $104.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Finally, Macquarie raised their target price on shares of Light & Wonder from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.50.

Light & Wonder Stock Performance

Shares of NASDAQ:LNW opened at $108.62 on Wednesday. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 33.73, a P/E/G ratio of 0.35 and a beta of 1.72. The firm’s 50 day simple moving average is $90.54 and its 200 day simple moving average is $96.08. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. Light & Wonder has a fifty-two week low of $84.00 and a fifty-two week high of $115.00.

Institutional Trading of Light & Wonder

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Light & Wonder by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company’s stock valued at $733,584,000 after purchasing an additional 100,527 shares during the last quarter. State Street Corp grew its stake in shares of Light & Wonder by 2.2% in the third quarter. State Street Corp now owns 2,651,627 shares of the company’s stock valued at $240,582,000 after buying an additional 56,890 shares in the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of Light & Wonder by 2.0% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,472,538 shares of the company’s stock valued at $127,198,000 after buying an additional 28,358 shares in the last quarter. FMR LLC grew its stake in shares of Light & Wonder by 28.7% in the third quarter. FMR LLC now owns 1,452,052 shares of the company’s stock valued at $131,745,000 after buying an additional 324,088 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Light & Wonder in the fourth quarter valued at $91,683,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

About Light & Wonder

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.