SG Americas Securities LLC Acquires 13,495 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

SG Americas Securities LLC increased its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 94.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,758 shares of the company’s stock after purchasing an additional 13,495 shares during the quarter. SG Americas Securities LLC’s holdings in Light & Wonder were worth $2,518,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LNW. Ashton Thomas Private Wealth LLC lifted its position in shares of Light & Wonder by 1.6% in the first quarter. Ashton Thomas Private Wealth LLC now owns 8,653 shares of the company’s stock valued at $883,000 after acquiring an additional 133 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after purchasing an additional 152 shares during the last quarter. QRG Capital Management Inc. increased its position in Light & Wonder by 2.2% in the 2nd quarter. QRG Capital Management Inc. now owns 10,046 shares of the company’s stock valued at $1,054,000 after acquiring an additional 218 shares during the period. O Shaughnessy Asset Management LLC increased its position in Light & Wonder by 5.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,321 shares of the company’s stock valued at $441,000 after acquiring an additional 242 shares during the period. Finally, Retirement Systems of Alabama increased its position in Light & Wonder by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 113,077 shares of the company’s stock valued at $11,544,000 after acquiring an additional 298 shares during the period. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LNW. Benchmark restated a “buy” rating and issued a $114.00 price target on shares of Light & Wonder in a report on Thursday, August 8th. Maxim Group started coverage on Light & Wonder in a research note on Monday, August 26th. They issued a “buy” rating and a $144.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their target price on Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Truist Financial lifted their price objective on Light & Wonder from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Stifel Nicolaus reduced their target price on Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Light & Wonder presently has a consensus rating of “Hold” and an average price target of $106.60.

Light & Wonder Price Performance

LNW stock opened at $94.17 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90. Light & Wonder, Inc. has a 52-week low of $69.93 and a 52-week high of $115.00. The stock’s 50 day moving average is $103.88 and its two-hundred day moving average is $100.16. The company has a market capitalization of $8.49 billion, a PE ratio of 39.07, a P/E/G ratio of 0.37 and a beta of 1.76.

Light & Wonder (NASDAQ:LNW) last issued its earnings results on Wednesday, August 7th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.14). The firm had revenue of $818.00 million during the quarter, compared to analyst estimates of $798.09 million. Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. Light & Wonder’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 EPS. Analysts predict that Light & Wonder, Inc. will post 4.44 earnings per share for the current fiscal year.

Light & Wonder declared that its board has initiated a share buyback plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.