Bridgewater Associates LP Invests $1.35 Million in Light & Wonder, Inc. (NASDAQ:LNW)

Bridgewater Associates LP acquired a new stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 14,851 shares of the company's stock, valued at approximately $1,347,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its position in shares of Light & Wonder by 108.6% during the third quarter. BNP Paribas Financial Markets now owns 12,434 shares of the company's stock valued at $1,128,000 after buying an additional 6,472 shares during the last quarter. FMR LLC lifted its stake in Light & Wonder by 28.7% during the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company's stock valued at $131,745,000 after acquiring an additional 324,088 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Light & Wonder during the 3rd quarter valued at $2,059,000. Algert Global LLC grew its stake in shares of Light & Wonder by 118.5% in the 3rd quarter. Algert Global LLC now owns 61,606 shares of the company's stock worth $5,590,000 after acquiring an additional 33,410 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Light & Wonder by 222.1% in the 3rd quarter. Cerity Partners LLC now owns 13,042 shares of the company's stock worth $1,183,000 after acquiring an additional 8,993 shares in the last quarter. Institutional investors own 88.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on LNW. Maxim Group started coverage on shares of Light & Wonder in a research report on Monday, August 26th. They set a "buy" rating and a $144.00 target price on the stock. B. Riley assumed coverage on Light & Wonder in a research report on Tuesday, October 8th. They issued a "buy" rating and a $120.00 price objective on the stock. Susquehanna decreased their target price on Light & Wonder from $92.00 to $90.00 and set a "neutral" rating for the company in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Light & Wonder from $76.00 to $81.00 and gave the stock a "hold" rating in a research note on Thursday, August 8th. Finally, Macquarie reduced their price target on shares of Light & Wonder from $122.00 to $117.00 and set an "outperform" rating for the company in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.36.

Light & Wonder Stock Performance

Shares of NASDAQ LNW traded up $3.02 during trading on Monday, reaching $98.06. 596,255 shares of the company traded hands, compared to its average volume of 713,474. The firm has a 50 day simple moving average of $95.03 and a 200-day simple moving average of $100.08. Light & Wonder, Inc. has a 52-week low of $76.52 and a 52-week high of $115.00. The stock has a market capitalization of $8.66 billion, a PE ratio of 30.51, a P/E/G ratio of 0.57 and a beta of 1.75. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Light & Wonder declared that its board has authorized a share repurchase program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Light & Wonder Profile

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.