Squarepoint Ops LLC acquired a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 37,076 shares of the company’s stock, valued at approximately $3,889,000.
Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in shares of Light & Wonder by 121.6% during the 2nd quarter. SG Americas Securities LLC now owns 14,263 shares of the company’s stock worth $1,496,000 after purchasing an additional 7,828 shares during the last quarter. M&G Plc acquired a new position in Light & Wonder in the 1st quarter valued at about $10,570,000. Intech Investment Management LLC acquired a new position in Light & Wonder in the 2nd quarter valued at about $1,620,000. Cibc World Markets Corp acquired a new position in Light & Wonder in the 4th quarter valued at about $5,748,000. Finally, Virtu Financial LLC acquired a new position in Light & Wonder in the 4th quarter valued at about $807,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. UBS Group upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft upped their price target 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. Maxim Group initiated coverage on shares of Light & Wonder in a research note on Monday, August 26th. They issued a “buy” rating and a $144.00 price target on the stock. 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 report on Thursday, July 18th. Finally, Susquehanna decreased their target price on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Light & Wonder currently has a consensus rating of “Hold” and a consensus target price of $106.60.
Light & Wonder Stock Performance
Shares of Light & Wonder stock opened at $87.91 on Wednesday. The company has a 50 day moving average of $104.63 and a 200-day moving average of $100.38. Light & Wonder, Inc. has a 1-year low of $67.71 and a 1-year high of $115.00. The company has a current ratio of 1.85, a quick ratio of 1.58 and a debt-to-equity ratio of 4.90. The company has a market cap of $7.80 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 0.39 and a beta of 1.77.
Light & Wonder (NASDAQ:LNW – Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $798.09 million. Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the company posted $1.02 EPS. As a group, equities research analysts forecast that Light & Wonder, Inc. will post 4.44 earnings per share for the current fiscal year.
Light & Wonder declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors 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.
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