Light & Wonder, Inc. (NASDAQ:LNW) Shares Purchased by Cwm LLC

CWM LLC lifted its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 42,664.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,987 shares of the company's stock after acquiring an additional 5,973 shares during the period. CWM LLC's holdings in Light & Wonder were worth $543,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LNW. Fidelis Capital Partners LLC acquired a new position in Light & Wonder in the first quarter valued at $38,000. GAMMA Investing LLC lifted its holdings in shares of Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company's stock valued at $43,000 after purchasing an additional 152 shares during the last quarter. Smith Anglin Financial LLC acquired a new stake in shares of Light & Wonder in the 2nd quarter valued at about $213,000. Cynosure Group LLC purchased a new position in Light & Wonder during the 1st quarter worth approximately $310,000. Finally, Centaurus Financial Inc. increased its position 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 period. Hedge funds and other institutional investors own 88.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LNW shares. Susquehanna cut their target price on shares of Light & Wonder from $92.00 to $90.00 and set a "neutral" rating on the stock in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on shares of Light & Wonder from $107.00 to $111.00 and gave the company an "overweight" rating in a report on Thursday, August 8th. Truist Financial increased their target price on shares of Light & Wonder from $115.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. Maxim Group started coverage on Light & Wonder in a research report on Monday, August 26th. They issued a "buy" rating and a $144.00 price target on the stock. 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 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $107.82.

Light & Wonder Stock Performance

Shares of LNW opened at $93.33 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90. Light & Wonder, Inc. has a 52-week low of $72.06 and a 52-week high of $115.00. The company has a 50-day simple moving average of $102.28 and a 200-day simple moving average of $99.57. The company has a market capitalization of $8.41 billion, a PE ratio of 38.73, a P/E/G ratio of 0.40 and a beta of 1.76.

Light & Wonder (NASDAQ:LNW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.14). The company had revenue of $818.00 million for the quarter, compared to analyst estimates of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. Light & Wonder's revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.02 earnings per share. Equities research analysts predict that Light & Wonder, Inc. will post 4.44 earnings per share for the current fiscal year.

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