Dynamic Technology Lab Private Ltd Purchases New Shares in Light & Wonder, Inc. (NASDAQ:LNW)

Dynamic Technology Lab Private Ltd purchased a new stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,689 shares of the company's stock, valued at approximately $2,059,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Light & Wonder in the third quarter valued at approximately $29,000. GAMMA Investing LLC lifted its position in shares of Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company's stock worth $43,000 after purchasing an additional 152 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Light & Wonder in the 3rd quarter valued at $108,000. Smith Anglin Financial LLC acquired a new stake in shares of Light & Wonder during the second quarter worth $213,000. Finally, Centaurus Financial Inc. raised its stake in Light & Wonder by 67.7% during the second quarter. Centaurus Financial Inc. now owns 3,167 shares of the company's stock worth $332,000 after buying an additional 1,279 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LNW has been the topic of a number of research analyst reports. Benchmark reaffirmed a "buy" rating and set a $114.00 price target on shares of Light & Wonder in a research report on Thursday, August 8th. Craig Hallum raised Light & Wonder to a "strong-buy" rating in a research note on Friday, October 4th. B. Riley assumed coverage on Light & Wonder in a research note on Tuesday, October 8th. They issued a "buy" rating and a $120.00 price target on the stock. Stifel Nicolaus dropped their target price on shares of Light & Wonder from $108.00 to $100.00 and set a "hold" rating on the stock in a research report on Wednesday, September 25th. Finally, Maxim Group started coverage on shares of Light & Wonder in a research note on Monday, August 26th. They set a "buy" rating and a $144.00 target price on the stock. 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $107.36.

Light & Wonder Stock Down 0.5 %

NASDAQ LNW traded down $0.51 during trading hours on Tuesday, hitting $97.94. The company's stock had a trading volume of 629,782 shares, compared to its average volume of 716,978. The company has a market capitalization of $8.65 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a 52 week low of $76.52 and a 52 week high of $115.00. The company's 50-day simple moving average is $96.28 and its two-hundred day simple moving average is $99.97.

Light & Wonder announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management 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.