Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Covestor Ltd

Covestor Ltd trimmed its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 56.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 554 shares of the company’s stock after selling 713 shares during the quarter. Covestor Ltd’s holdings in Light & Wonder were worth $50,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LNW. Capital Performance Advisors LLP purchased a new stake in Light & Wonder in the 3rd quarter valued at approximately $29,000. GAMMA Investing LLC grew its holdings in Light & Wonder by 59.6% during the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after acquiring an additional 152 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Light & Wonder in the third quarter worth $108,000. Smith Anglin Financial LLC acquired a new stake in Light & Wonder in the second quarter valued at $213,000. Finally, Cynosure Group LLC purchased a new stake in shares of Light & Wonder during the 1st quarter worth $310,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

Light & Wonder Trading Up 0.9 %

Shares of LNW stock opened at $93.10 on Friday. Light & Wonder, Inc. has a twelve month low of $76.52 and a twelve month high of $115.00. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 0.43 and a beta of 1.75. The firm has a 50-day moving average price of $98.30 and a 200 day moving average price of $99.81. The company has a current ratio of 1.85, a quick ratio of 1.58 and a debt-to-equity ratio of 4.90.

Light & Wonder (NASDAQ:LNW) last announced its earnings results on Tuesday, November 12th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. The firm had revenue of $817.00 million for the quarter, compared to analyst estimates of $826.65 million. Light & Wonder had a net margin of 9.30% and a return on equity of 50.89%. Research analysts forecast that Light & Wonder, Inc. will post 4.41 earnings per share for the current fiscal year.

Light & Wonder announced that its board has approved a stock repurchase plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently commented on LNW. UBS Group upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. Benchmark reiterated a “buy” rating and set a $114.00 price target on shares of Light & Wonder in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped 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. Stifel Nicolaus reduced their price objective on Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a report on Wednesday, September 25th. Finally, B. Riley assumed coverage on Light & Wonder in a report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price on the stock. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.36.

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.