Captrust Financial Advisors Acquires New Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Captrust Financial Advisors acquired a new stake in Light & Wonder, Inc. (NASDAQ:LNW) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,873 shares of the company’s stock, valued at approximately $261,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Light & Wonder by 1.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,559 shares of the company’s stock valued at $1,775,000 after acquiring an additional 281 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Light & Wonder in the 3rd quarter valued at about $29,000. Mercer Global Advisors Inc. ADV lifted its holdings in Light & Wonder by 6.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,320 shares of the company’s stock valued at $685,000 after purchasing an additional 360 shares in the last quarter. Raymond James & Associates lifted its holdings in Light & Wonder by 2.9% in the 2nd quarter. Raymond James & Associates now owns 14,056 shares of the company’s stock valued at $1,474,000 after purchasing an additional 400 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in Light & Wonder by 1.6% in the 2nd quarter. Arizona State Retirement System now owns 25,148 shares of the company’s stock valued at $2,638,000 after purchasing an additional 401 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. B. Riley assumed coverage on shares of Light & Wonder in a report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price on the stock. Susquehanna cut their price objective on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Craig Hallum upgraded shares of Light & Wonder to a “strong-buy” rating in a report on Friday, October 4th. Finally, Macquarie cut their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.36.

Light & Wonder Stock Down 1.9 %

Shares of NASDAQ:LNW opened at $91.59 on Monday. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 0.55 and a beta of 1.71. Light & Wonder, Inc. has a 1-year low of $76.52 and a 1-year high of $115.00. The company’s fifty day moving average is $95.59 and its two-hundred day moving average is $100.16. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88.

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.