GSA Capital Partners LLP bought a new stake in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,989 shares of the company's stock, valued at approximately $725,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LNW. Russell Investments Group Ltd. lifted its stake in Light & Wonder by 3.9% in the first quarter. Russell Investments Group Ltd. now owns 43,414 shares of the company's stock valued at $4,432,000 after buying an additional 1,636 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Light & Wonder in the first quarter worth $483,000. Cynosure Group LLC purchased a new position in Light & Wonder in the first quarter worth $310,000. O Shaughnessy Asset Management LLC boosted its position in Light & Wonder by 5.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,321 shares of the company's stock worth $441,000 after purchasing an additional 242 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC lifted its position in shares of Light & Wonder by 15.5% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 365,000 shares of the company's stock valued at $37,263,000 after buying an additional 49,000 shares during the last quarter. Institutional investors own 88.08% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on LNW. Truist Financial dropped their price target on Light & Wonder from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Craig Hallum upgraded Light & Wonder to a "strong-buy" rating in a research report on Friday, October 4th. Maxim Group assumed coverage on Light & Wonder in a research report on Monday, August 26th. They set a "buy" rating and a $144.00 price objective on the stock. Benchmark restated a "buy" rating and set a $114.00 price target on shares of Light & Wonder in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Light & Wonder from $76.00 to $81.00 and gave the stock a "hold" rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $107.36.
Get Our Latest Report on LNW
Light & Wonder Stock Down 0.5 %
Shares of LNW traded down $0.44 on Monday, reaching $92.80. The stock had a trading volume of 825,434 shares, compared to its average volume of 713,306. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 0.51 and a beta of 1.75. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.58 and a current ratio of 1.88. The company has a 50-day simple moving average of $97.80 and a 200-day simple moving average of $99.97. Light & Wonder, Inc. has a 12-month low of $76.52 and a 12-month high of $115.00.
Light & Wonder declared that its board has approved a share buyback plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Light & Wonder Company Profile
(
Free Report)
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.
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