Entropy Technologies LP Takes $363,000 Position in Light & Wonder, Inc. (NASDAQ:LNW)

Entropy Technologies LP purchased a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,000 shares of the company’s stock, valued at approximately $363,000.

Several other large investors also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of Light & Wonder during the 3rd quarter worth approximately $29,000. GAMMA Investing LLC increased its stake in shares of Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after acquiring an additional 152 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Light & Wonder in the 3rd quarter worth $108,000. Smith Anglin Financial LLC purchased a new position in shares of Light & Wonder during the 2nd quarter worth $213,000. Finally, Cynosure Group LLC acquired a new position in shares of Light & Wonder during the 1st quarter valued at about $310,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on LNW. JPMorgan Chase & Co. lifted their target price on shares of Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Maxim Group began coverage on shares of Light & Wonder in a research report on Monday, August 26th. They set a “buy” rating and a $144.00 price target on the stock. Macquarie lowered their price objective on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Craig Hallum upgraded Light & Wonder to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.36.

Light & Wonder Trading Up 0.2 %

Shares of LNW stock opened at $93.24 on Friday. Light & Wonder, Inc. has a fifty-two week low of $76.52 and a fifty-two week high of $115.00. The company has a 50 day moving average price of $98.06 and a 200 day moving average price of $99.89. The stock has a market capitalization of $8.23 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 0.39 and a beta of 1.75. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.58 and a current ratio of 1.88.

Light & Wonder announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Light & Wonder Company 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.