GSA Capital Partners LLP Invests $725,000 in Light & Wonder, Inc. (NASDAQ:LNW)

GSA Capital Partners LLP bought a new stake in Light & Wonder, Inc. (NASDAQ:LNW) during the third quarter, HoldingsChannel.com reports. The fund bought 7,989 shares of the company’s stock, valued at approximately $725,000.

Several other institutional investors have also recently bought and sold shares of LNW. Entropy Technologies LP bought a new position in shares of Light & Wonder during the 3rd quarter worth approximately $363,000. Axxcess Wealth Management LLC acquired a new stake in Light & Wonder in the 3rd quarter valued at $899,000. XY Capital Ltd lifted its position in Light & Wonder by 200.2% during the 3rd quarter. XY Capital Ltd now owns 35,170 shares of the company’s stock worth $3,191,000 after buying an additional 23,456 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Light & Wonder during the 3rd quarter worth about $29,000. Finally, M&G PLC grew its holdings in shares of Light & Wonder by 2.9% in the 3rd quarter. M&G PLC now owns 119,896 shares of the company’s stock valued at $10,911,000 after acquiring an additional 3,412 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Macquarie decreased their target price on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Maxim Group began coverage on shares of Light & Wonder in a report on Monday, August 26th. They set a “buy” rating and a $144.00 target price on the stock. Susquehanna decreased their price objective on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Finally, Craig Hallum raised shares of Light & Wonder to a “strong-buy” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Light & Wonder has an average rating of “Moderate Buy” and an average target price of $107.36.

Light & Wonder Stock Performance

LNW opened at $93.24 on Monday. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.58. The business has a fifty day simple moving average of $98.06 and a 200 day simple moving average of $99.96. Light & Wonder, Inc. has a 1 year low of $76.52 and a 1 year high of $115.00. The company has a market capitalization of $8.23 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 0.51 and a beta of 1.75.

Light & Wonder declared that its board has approved a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.