Light & Wonder (NASDAQ:LNW) Upgraded at Citigroup

Citigroup upgraded shares of Light & Wonder (NASDAQ:LNW) from a neutral rating to a buy rating in a report released on Wednesday morning, MarketBeat.com reports.

A number of other equities research analysts have also commented on the stock. Jefferies Financial Group upped their price target on shares of Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Truist Financial lowered their price target on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Stifel Nicolaus upped their price target on shares of Light & Wonder from $90.00 to $104.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Benchmark reiterated a “buy” rating and set a $114.00 price target on shares of Light & Wonder in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.25.

Light & Wonder Trading Down 2.9 %

Shares of LNW opened at $101.83 on Wednesday. The firm has a 50 day moving average price of $89.67 and a 200-day moving average price of $96.07. Light & Wonder has a fifty-two week low of $84.00 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 0.36 and a beta of 1.72.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC purchased a new stake in shares of Light & Wonder in the 3rd quarter worth about $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Light & Wonder in the 3rd quarter worth about $29,000. R Squared Ltd purchased a new stake in shares of Light & Wonder in the 4th quarter worth about $35,000. Quarry LP purchased a new stake in shares of Light & Wonder in the 3rd quarter worth about $51,000. Finally, Blue Trust Inc. grew its position in shares of Light & Wonder by 194.3% in the 4th quarter. Blue Trust Inc. now owns 718 shares of the company’s stock worth $65,000 after buying an additional 474 shares during the period. 88.08% of the stock is 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.