Squarepoint Ops LLC Invests $3.89 Million in Light & Wonder, Inc. (NASDAQ:LNW)

Squarepoint Ops LLC acquired a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW) 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) 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.