Iridian Asset Management LLC CT Has $4.68 Million Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Iridian Asset Management LLC CT raised its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 12.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,571 shares of the company's stock after purchasing an additional 5,570 shares during the period. Light & Wonder comprises about 1.0% of Iridian Asset Management LLC CT's portfolio, making the stock its 28th largest holding. Iridian Asset Management LLC CT owned approximately 0.06% of Light & Wonder worth $4,679,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State of Michigan Retirement System grew its position in shares of Light & Wonder by 2.3% during the first quarter. State of Michigan Retirement System now owns 22,099 shares of the company's stock worth $2,256,000 after acquiring an additional 500 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its position in shares of Light & Wonder by 1.6% during the first quarter. Ashton Thomas Private Wealth LLC now owns 8,653 shares of the company's stock worth $883,000 after buying an additional 133 shares during the period. Retirement Systems of Alabama grew its holdings in Light & Wonder by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 113,077 shares of the company's stock worth $11,544,000 after buying an additional 298 shares in the last quarter. BNP Paribas Financial Markets increased its position in Light & Wonder by 114.0% in the 1st quarter. BNP Paribas Financial Markets now owns 91,304 shares of the company's stock valued at $9,321,000 after acquiring an additional 48,629 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in Light & Wonder during the 1st quarter valued at $38,000. 88.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on LNW. Craig Hallum raised shares of Light & Wonder to a "strong-buy" rating in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft lifted their price target on Light & Wonder from $76.00 to $81.00 and gave the company a "hold" rating in a research report on Thursday, August 8th. UBS Group raised Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, September 25th. Stifel Nicolaus reduced their price objective on shares of Light & Wonder from $108.00 to $100.00 and set a "hold" rating for the company in a research report on Wednesday, September 25th. Finally, Maxim Group assumed coverage on Light & Wonder in a report on Monday, August 26th. They issued a "buy" rating and a $144.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $107.36.

Light & Wonder Stock Down 0.5 %

Shares of NASDAQ:LNW traded down $0.47 during trading on Thursday, reaching $93.78. 512,965 shares of the company traded hands, compared to its average volume of 716,854. Light & Wonder, Inc. has a 1-year low of $72.11 and a 1-year high of $115.00. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90. The firm has a market cap of $8.32 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 0.40 and a beta of 1.76. The firm has a fifty day simple moving average of $100.36 and a 200 day simple moving average of $99.30.

Light & Wonder (NASDAQ:LNW - Get Free Report) last posted its 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). Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The firm had revenue of $818.00 million during the quarter, compared to analyst estimates of $798.09 million. During the same quarter in the previous year, the business posted $1.02 earnings per share. The business's quarterly revenue was up 11.9% compared to the same quarter last year. Analysts anticipate that Light & Wonder, Inc. will post 4.41 earnings per share for the current fiscal year.

Light & Wonder announced that its board has initiated a stock repurchase program on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is 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.