Macquarie Elevates Price Target for Light & Wonder Stock

Investment analysts at Macquarie have recently raised their price target for Light & Wonder (NASDAQ:LNW) from $117.00 to $122.00. This update, which was published in a report to investors on Wednesday, comes alongside an "outperform" rating for the company's shares. The revised price target suggests a potential increase of about 16.75% from the stock's current trading price.

Other Analyst Ratings

Several other financial institutions have also provided their insights on Light & Wonder. For instance, Stifel Nicolaus set a new price target at $104.00 from a previous $90.00 rating while maintaining a "hold" status. Additionally, Truist Financial lowered their price target from $120.00 to $115.00 but still holds a "buy" rating. Jefferies Financial Group has increased their target from $120.00 to $121.00, also giving it a "buy" rating. Citigroup upgraded its position on Light & Wonder, shifting from a "neutral" rating to a "buy" status. Furthermore, Benchmark echoed the positive sentiment by confirming a "buy" rating with a price target of $114.00. Overall, analysts' opinions seem optimistic, with one sell rating, four hold ratings, eight buy ratings, and two strong buy endorsements. Average consensus reflects a "Moderate Buy" rating with a price target of approximately $109.25.

Recent Stock Performance

On the trading floor, Light & Wonder shares saw an increase of $2.86, reaching a price of $104.50 during transactions on Wednesday. The trade volume recorded stood at 1,253,453 shares, significantly above the average of 668,870 shares. Over the past year, the stock has fluctuated between a low of $84.00 and a high of $115.00. Currently, the 50-day simple moving average is at $88.98, while the 200-day moving average sits at $95.90. With a market capitalization estimated at $9.23 billion, the company's price-to-earnings ratio is around 32.43, accompanied by a price-to-earnings-growth ratio of 0.33 and a beta value of 1.72. Financial health indicators reveal a current ratio of 1.88, quick ratio of 1.61, and a high debt-to-equity ratio of 4.49.

Institutional Ownership

Institutional involvement remains strong in Light & Wonder, with several hedge funds and investment firms adjusting their stakes in the company. Notably, Vanguard Group Inc. improved its holdings by 1.2% in the last quarter, owning approximately 8,492,524 shares valued at around $733 million. State Street Corp also raised its stake by 2.2%, totaling to about 2,651,627 shares. Other firms such as Burgundy Asset Management and FMR LLC have likewise increased their positions in the company, reflecting positive institutional sentiment. Collectively, institutional investors control about 88.08% of the company's stock.

About Light & Wonder

Light & Wonder, Inc. is a global gaming organization focused on cross-platform gaming content and digital markets. The company operates across several segments, primarily Gaming, SciPlay, and iGaming. In the Gaming segment, it develops, markets, and distributes a diverse range of gaming products and services.

Macquarie, Stock, Analysis