Axxcess Wealth Management LLC Invests $899,000 in Light & Wonder, Inc. (NASDAQ:LNW)

Axxcess Wealth Management LLC bought a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,910 shares of the company's stock, valued at approximately $899,000.

Other institutional investors have also bought and sold shares of the company. XY Capital Ltd raised its position in Light & Wonder by 200.2% in the 3rd quarter. XY Capital Ltd now owns 35,170 shares of the company's stock valued at $3,191,000 after purchasing an additional 23,456 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Light & Wonder during the 3rd quarter worth about $29,000. M&G PLC grew its holdings in Light & Wonder by 2.9% during the 3rd quarter. M&G PLC now owns 119,896 shares of the company's stock worth $10,911,000 after acquiring an additional 3,412 shares during the last quarter. QRG Capital Management Inc. grew its holdings in Light & Wonder by 6.0% during the 3rd quarter. QRG Capital Management Inc. now owns 10,646 shares of the company's stock worth $966,000 after acquiring an additional 600 shares during the last quarter. Finally, Iridian Asset Management LLC CT increased its holdings in shares of Light & Wonder by 12.1% in the third quarter. Iridian Asset Management LLC CT now owns 51,571 shares of the company's stock valued at $4,679,000 after purchasing an additional 5,570 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LNW. Craig Hallum raised shares of Light & Wonder to a "strong-buy" rating in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft increased their price target on Light & Wonder from $76.00 to $81.00 and gave the company a "hold" rating in a research note on Thursday, August 8th. Benchmark reaffirmed a "buy" rating and set a $114.00 price objective on shares of Light & Wonder in a research note on Thursday, August 8th. Susquehanna cut their target price on Light & Wonder from $92.00 to $90.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 24th. Finally, B. Riley initiated coverage on Light & Wonder in a research report on Tuesday, October 8th. They set a "buy" rating and a $120.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Light & Wonder has a consensus rating of "Moderate Buy" and a consensus target price of $107.36.

Light & Wonder Trading Down 10.0 %

NASDAQ:LNW traded down $10.22 on Wednesday, reaching $92.28. 1,602,732 shares of the stock traded hands, compared to its average volume of 710,693. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 0.43 and a beta of 1.75. Light & Wonder, Inc. has a 1-year low of $76.52 and a 1-year high of $115.00. The company has a current ratio of 1.85, a quick ratio of 1.58 and a debt-to-equity ratio of 4.90. The company's 50 day moving average is $98.90 and its 200-day moving average is $99.91.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.16 by $0.18. Light & Wonder had a return on equity of 50.89% and a net margin of 9.30%. The company had revenue of $817.00 million for the quarter, compared to analyst estimates of $826.65 million. Equities research analysts anticipate that Light & Wonder, Inc. will post 4.41 EPS for the current fiscal year.

Light & Wonder declared that its board has authorized a share repurchase plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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.