QRG Capital Management Inc. Has $966,000 Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

QRG Capital Management Inc. boosted its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,646 shares of the company’s stock after acquiring an additional 600 shares during the period. QRG Capital Management Inc.’s holdings in Light & Wonder were worth $966,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LNW. Burgundy Asset Management Ltd. lifted its position in shares of Light & Wonder by 1.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company’s stock worth $134,307,000 after purchasing an additional 15,902 shares during the last quarter. Ninety One UK Ltd lifted its holdings in shares of Light & Wonder by 128.0% during the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after buying an additional 511,081 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Light & Wonder by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 802,922 shares of the company’s stock worth $84,215,000 after buying an additional 12,317 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Light & Wonder by 102.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock worth $78,320,000 after acquiring an additional 388,781 shares during the last quarter. Finally, Millennium Management LLC increased its position in Light & Wonder by 573.3% during the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after acquiring an additional 493,295 shares during the period. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Stock Performance

Shares of NASDAQ:LNW opened at $102.89 on Friday. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 0.42 and a beta of 1.75. The business’s fifty day moving average price is $99.29 and its two-hundred day moving average price is $99.59. 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 4.90, a current ratio of 1.85 and a quick ratio of 1.58.

Light & Wonder (NASDAQ:LNW) last announced its 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). The firm had revenue of $818.00 million for 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%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.02 EPS. As a group, analysts predict that Light & Wonder, Inc. will post 4.41 EPS for the current fiscal year.

Light & Wonder announced that its board has authorized a stock buyback program on Wednesday, August 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LNW. Stifel Nicolaus reduced their price target on shares of Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a report on Wednesday, September 25th. UBS Group upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. Macquarie lowered their price target on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Susquehanna reduced their price objective on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Finally, Maxim Group started coverage on Light & Wonder in a research report on Monday, August 26th. They set a “buy” rating and a $144.00 price objective 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $107.36.

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.