Emerald Advisers LLC Trims Stock Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Emerald Advisers LLC lowered its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 47.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,844 shares of the company's stock after selling 83,590 shares during the quarter. Emerald Advisers LLC owned about 0.10% of Light & Wonder worth $8,424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LNW. Fidelis Capital Partners LLC purchased a new stake in Light & Wonder in the first quarter valued at $38,000. GAMMA Investing LLC raised its holdings in 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 buying an additional 152 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Light & Wonder in the third quarter valued at about $108,000. Smith Anglin Financial LLC purchased a new position in Light & Wonder during the second quarter worth about $213,000. Finally, Cynosure Group LLC acquired a new stake in shares of Light & Wonder during the first quarter valued at about $310,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Light & Wonder Stock Up 0.5 %

Shares of LNW stock traded up $0.44 during trading hours on Friday, reaching $94.22. 402,455 shares of the stock were exchanged, compared to its average volume of 647,788. Light & Wonder, Inc. has a 12-month low of $72.76 and a 12-month high of $115.00. The business's fifty day moving average is $100.08 and its two-hundred day moving average is $99.46. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.85 and a quick ratio of 1.58. The firm has a market capitalization of $8.36 billion, a P/E ratio of 28.38, a P/E/G ratio of 0.40 and a beta of 1.75.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.14). The firm had revenue of $818.00 million during 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 for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 earnings per share. As a group, research analysts expect that Light & Wonder, Inc. will post 4.41 EPS for the current fiscal year.

Light & Wonder announced that its board has authorized a stock repurchase 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 stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LNW. Macquarie decreased their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an "outperform" rating on the stock in a report on Wednesday, September 25th. Truist Financial decreased their price target on Light & Wonder from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. Benchmark reaffirmed a "buy" rating and issued a $114.00 price objective on shares of Light & Wonder in a research note on Thursday, August 8th. Susquehanna decreased their target price on Light & Wonder from $92.00 to $90.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 24th. Finally, Craig Hallum raised Light & Wonder to a "strong-buy" rating in a research report on Friday, October 4th. One research 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.36.

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.