Sanctuary Advisors LLC Invests $222,000 in Light & Wonder, Inc. (NASDAQ:LNW)

Sanctuary Advisors LLC purchased a new stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,300 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Millennium Management LLC raised its stake in Light & Wonder by 573.3% in the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after buying an additional 493,295 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Light & Wonder in the second quarter valued at about $23,597,000. Intech Investment Management LLC acquired a new stake in Light & Wonder in the 2nd quarter worth approximately $1,620,000. Thrivent Financial for Lutherans grew its holdings in shares of Light & Wonder by 57.0% during the second quarter. Thrivent Financial for Lutherans now owns 35,437 shares of the company’s stock valued at $3,716,000 after buying an additional 12,871 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Light & Wonder during the 2nd quarter valued at about $1,470,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LNW. Craig Hallum upgraded Light & Wonder to a “strong-buy” rating in a research report on Friday, October 4th. B. Riley began coverage on shares of Light & Wonder in a research note on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price on the stock. Macquarie decreased their price objective on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Truist Financial lowered their price target on Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, UBS Group raised Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Light & Wonder presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.36.

Light & Wonder Price Performance

Shares of NASDAQ:LNW opened at $86.03 on Monday. Light & Wonder, Inc. has a fifty-two week low of $76.52 and a fifty-two week high of $115.00. The company has a market cap of $7.60 billion, a PE ratio of 26.72, a P/E/G ratio of 0.55 and a beta of 1.71. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The firm has a 50-day simple moving average of $94.02 and a 200 day simple moving average of $99.49.

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.