Light & Wonder, Inc. (NASDAQ:LNW) Stock Position Decreased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 12.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,400 shares of the company’s stock after selling 3,100 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Light & Wonder were worth $1,942,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fidelis Capital Partners LLC bought a new stake in shares of Light & Wonder during the 1st quarter worth $38,000. Rise Advisors LLC acquired a new stake in shares of Light & Wonder in the first quarter worth $38,000. GAMMA Investing LLC boosted its position in shares of Light & Wonder by 59.6% in the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after buying an additional 152 shares during the period. Smith Anglin Financial LLC acquired a new stake in shares of Light & Wonder in the second quarter worth $213,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Light & Wonder in the fourth quarter worth $308,000. 88.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LNW shares. Macquarie decreased their target price on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. B. Riley started coverage on Light & Wonder in a research report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price for the company. Truist Financial raised their target price on Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Benchmark reaffirmed a “buy” rating and issued a $114.00 target price on shares of Light & Wonder in a research report on Thursday, August 8th. Finally, Maxim Group initiated 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. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.82.

Light & Wonder Price Performance

Shares of NASDAQ:LNW opened at $94.21 on Wednesday. Light & Wonder, Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $115.00. The business has a 50-day moving average of $102.71 and a two-hundred day moving average of $99.70. The stock has a market capitalization of $8.49 billion, a P/E ratio of 39.09, a P/E/G ratio of 0.40 and a beta of 1.76. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.85 and a quick ratio of 1.58.

Light & Wonder (NASDAQ:LNW) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. 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 prior year, the firm earned $1.02 EPS. Light & Wonder’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities research analysts predict that Light & Wonder, Inc. will post 4.44 EPS for the current fiscal year.

Light & Wonder announced that its Board of Directors has authorized a share repurchase program on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are 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.