Algert Global LLC Has $5.59 Million Position in Light & Wonder, Inc. (NASDAQ:LNW)

Algert Global LLC increased its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 118.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,606 shares of the company's stock after buying an additional 33,410 shares during the quarter. Algert Global LLC owned 0.07% of Light & Wonder worth $5,590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNW. O Shaughnessy Asset Management LLC lifted its position in shares of 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 in the last quarter. Quadrature Capital Ltd bought a new position in shares of Light & Wonder in the 1st quarter valued at about $799,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Light & Wonder by 102.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company's stock valued at $78,320,000 after acquiring an additional 388,781 shares in the last quarter. Comerica Bank increased its position in shares of Light & Wonder by 85.1% in the first quarter. Comerica Bank now owns 47,874 shares of the company's stock valued at $4,887,000 after acquiring an additional 22,017 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Light & Wonder by 59.6% during the second quarter. GAMMA Investing LLC now owns 407 shares of the company's stock worth $43,000 after acquiring an additional 152 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LNW shares. 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 target on the stock. Craig Hallum upgraded shares of Light & Wonder to a "strong-buy" rating in a report on Friday, October 4th. JPMorgan Chase & Co. increased their price target on shares of Light & Wonder from $107.00 to $111.00 and gave the company an "overweight" rating in a research note on Thursday, August 8th. B. Riley initiated coverage on shares of Light & Wonder in a research note on Tuesday, October 8th. They set a "buy" rating and a $120.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Light & Wonder from $76.00 to $81.00 and gave the company a "hold" rating in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $107.36.

Light & Wonder Price Performance

Shares of NASDAQ LNW traded up $2.03 during trading hours on Monday, hitting $98.45. 942,890 shares of the stock were exchanged, compared to its average volume of 717,360. The company's fifty day simple moving average is $96.53 and its two-hundred day simple moving average is $99.92. The company has a market cap of $8.69 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. Light & Wonder, Inc. has a 1-year low of $76.52 and a 1-year high of $115.00.

Light & Wonder declared that its Board of Directors has approved a stock buyback program on Wednesday, August 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback programs are typically an indication 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.