Light & Wonder (NASDAQ:LNW) Downgraded by Susquehanna to “Neutral”

Light & Wonder (NASDAQ:LNW) was downgraded by investment analysts at Susquehanna from a “positive” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat reports. They currently have a $95.00 price target on the stock, down from their previous price target of $111.00. Susquehanna’s target price would indicate a potential upside of 3.77% from the stock’s previous close.

Several other analysts also recently weighed in on LNW. Macquarie boosted their target price on Light & Wonder from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Redburn Atlantic lowered shares of Light & Wonder from a “buy” rating to a “neutral” rating and raised their target price for the stock from $105.00 to $110.00 in a research report on Monday, March 11th. Benchmark started coverage on shares of Light & Wonder in a report on Tuesday, January 16th. They issued a “buy” rating and a $92.00 target price on the stock. Mizuho decreased their price target on shares of Light & Wonder from $83.00 to $79.00 and set an “underperform” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Light & Wonder from $98.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $95.08.

Light & Wonder Price Performance

LNW stock opened at $91.55 on Friday. The business has a 50 day moving average price of $97.51 and a 200 day moving average price of $88.41. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.04. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 52.02 and a beta of 1.80. Light & Wonder has a fifty-two week low of $56.01 and a fifty-two week high of $108.90.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.03). The company had revenue of $770.00 million for the quarter, compared to analysts’ expectations of $748.30 million. Light & Wonder had a return on equity of 23.68% and a net margin of 5.58%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.12 EPS. Equities research analysts anticipate that Light & Wonder will post 3.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Light & Wonder news, CEO Siobhan Lane sold 3,566 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $100.73, for a total value of $359,203.18. Following the sale, the chief executive officer now owns 11,302 shares of the company’s stock, valued at $1,138,450.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP James Sottile sold 1,549 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $101.15, for a total transaction of $156,681.35. Following the sale, the vice president now owns 57,478 shares in the company, valued at $5,813,899.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Siobhan Lane sold 3,566 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $100.73, for a total value of $359,203.18. Following the completion of the transaction, the chief executive officer now owns 11,302 shares of the company’s stock, valued at $1,138,450.46. The disclosure for this sale can be found here. Insiders have sold 7,537 shares of company stock worth $760,427 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Light & Wonder

Several hedge funds have recently made changes to their positions in LNW. Norges Bank acquired a new stake in Light & Wonder in the 4th quarter worth about $124,523,000. Goldman Sachs Group Inc. boosted its position in shares of Light & Wonder by 95.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock worth $73,601,000 after acquiring an additional 438,443 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Light & Wonder by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,251,206 shares of the company’s stock valued at $89,249,000 after purchasing an additional 231,631 shares during the period. M&G Plc purchased a new stake in Light & Wonder in the first quarter valued at approximately $10,570,000. Finally, Moody Aldrich Partners LLC acquired a new position in Light & Wonder during the fourth quarter worth approximately $6,848,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.