GAMMA Investing LLC Buys 489 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

GAMMA Investing LLC raised its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 120.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 896 shares of the company’s stock after buying an additional 489 shares during the period. GAMMA Investing LLC’s holdings in Light & Wonder were worth $81,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC increased its stake in shares of Light & Wonder by 1.6% in the first quarter. Ashton Thomas Private Wealth LLC now owns 8,653 shares of the company’s stock worth $883,000 after purchasing an additional 133 shares during the period. QRG Capital Management Inc. increased its stake in shares of Light & Wonder by 2.2% in the second quarter. QRG Capital Management Inc. now owns 10,046 shares of the company’s stock worth $1,054,000 after purchasing an additional 218 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Light & Wonder by 5.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,321 shares of the company’s stock worth $441,000 after purchasing an additional 242 shares during the period. Retirement Systems of Alabama increased its stake in shares of Light & Wonder by 0.3% in the first quarter. Retirement Systems of Alabama now owns 113,077 shares of the company’s stock worth $11,544,000 after purchasing an additional 298 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Light & Wonder by 6.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 6,320 shares of the company’s stock worth $685,000 after purchasing an additional 360 shares during the period. 88.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on LNW shares. Macquarie dropped their price objective on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. 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 report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their target price on Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. B. Riley began coverage on Light & Wonder in a research report on Tuesday, October 8th. They set a “buy” rating and a $120.00 target price on the stock. Finally, Benchmark reissued a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Light & Wonder presently has an average rating of “Moderate Buy” and an average price target of $107.82.

Light & Wonder Stock Down 1.2 %

NASDAQ LNW opened at $94.53 on Tuesday. 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 stock’s 50 day moving average is $102.84 and its two-hundred day moving average is $99.76. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 0.40 and a beta of 1.76. Light & Wonder, Inc. has a 1-year low of $72.06 and a 1-year high of $115.00.

Light & Wonder (NASDAQ:LNW) last released 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 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%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.02 earnings per share. Equities 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 repurchase program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors 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.