Light & Wonder, Inc. (NASDAQ:LNW) Shares Bought by Algert Global LLC

Algert Global LLC increased its position in Light & Wonder, Inc. (NASDAQ:LNW) by 118.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,606 shares of the company’s stock after buying an additional 33,410 shares during the quarter. Algert Global LLC owned about 0.07% of Light & Wonder worth $5,590,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Light & Wonder by 59.6% in the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after buying an additional 152 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Light & Wonder by 2.2% during the second quarter. QRG Capital Management Inc. now owns 10,046 shares of the company’s stock worth $1,054,000 after purchasing an additional 218 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Light & Wonder by 5.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,321 shares of the company’s stock valued at $441,000 after purchasing an additional 242 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Light & Wonder in the 3rd quarter valued at $29,000. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of 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 during the period. 88.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LNW has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Macquarie decreased their price objective 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. Truist Financial cut their target price on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Maxim Group initiated coverage on Light & Wonder in a research report on Monday, August 26th. They issued a “buy” rating and a $144.00 target price for the company. Finally, Stifel Nicolaus dropped their price target 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 research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.36.

Light & Wonder Stock Up 2.1 %

LNW opened at $96.42 on Monday. The company has a market capitalization of $8.51 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. The business has a 50-day moving average of $96.53 and a 200-day moving average of $99.92. 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 debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61.

Light & Wonder announced that its board has approved a stock buyback program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership 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.