Dimensional Fund Advisors LP Boosts Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Dimensional Fund Advisors LP raised its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 1.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 802,922 shares of the company’s stock after buying an additional 12,317 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Light & Wonder were worth $84,215,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in shares of Light & Wonder during the first quarter worth about $38,000. Fidelis Capital Partners LLC purchased a new stake in shares of Light & Wonder during the first quarter worth about $38,000. GAMMA Investing LLC grew its stake in shares of Light & Wonder by 59.6% during the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after acquiring an additional 152 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Light & Wonder during the fourth quarter worth about $69,000. Finally, KBC Group NV purchased a new stake in shares of Light & Wonder during the fourth quarter worth about $153,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Trading Up 1.0 %

Shares of NASDAQ:LNW opened at $91.61 on Thursday. Light & Wonder, Inc. has a 12-month low of $67.71 and a 12-month high of $115.00. The company has a market capitalization of $8.26 billion, a PE ratio of 38.01, a PEG ratio of 0.47 and a beta of 1.77. The business has a 50 day moving average of $105.63 and a two-hundred day moving average of $100.66. The company has a current ratio of 1.85, a quick ratio of 1.58 and a debt-to-equity ratio of 4.90.

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

Light & Wonder declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Benchmark restated a “buy” rating and set a $114.00 price target on shares of Light & Wonder in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Maxim Group assumed coverage on Light & Wonder in a report on Monday, August 26th. They set a “buy” rating and a $144.00 target price for the company. Macquarie decreased their target price on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, UBS Group raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday. One equities 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.60.

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.