Light & Wonder (NASDAQ:LNW) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Light & Wonder (NASDAQ:LNW) had its target price upped by analysts at JPMorgan Chase & Co. from $103.00 to $110.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 1.91% from the company’s current price.

Other analysts have also recently issued reports about the company. Jefferies Financial Group raised their price objective on Light & Wonder from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 19th. Benchmark reissued a “buy” rating and issued a $114.00 price objective on shares of Light & Wonder in a research report on Wednesday, February 19th. Macquarie lifted 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. Finally, 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 research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Light & Wonder currently has an average rating of “Moderate Buy” and an average price target of $109.50.

Light & Wonder Stock Up 6.2 %

NASDAQ LNW traded up $6.31 on Wednesday, reaching $107.94. The company had a trading volume of 313,615 shares, compared to its average volume of 699,636. The company’s fifty day moving average is $90.10 and its 200-day moving average is $95.99. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 0.35 and a beta of 1.72. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. Light & Wonder has a 1-year low of $84.00 and a 1-year high of $115.00.

Hedge Funds Weigh In On Light & Wonder

A number of institutional investors and hedge funds have recently made changes to their positions in LNW. True Wealth Design LLC bought a new position in shares of Light & Wonder during the 3rd quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of Light & Wonder in the third quarter worth about $29,000. R Squared Ltd purchased a new position in Light & Wonder in the 4th quarter worth about $35,000. Quarry LP bought a new stake in Light & Wonder during the 3rd quarter valued at about $51,000. Finally, Blue Trust Inc. grew its stake in 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 acquiring an additional 474 shares in the last quarter. 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.