AQR Capital Management LLC Purchases 51,097 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

AQR Capital Management LLC grew its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 166.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,719 shares of the company’s stock after purchasing an additional 51,097 shares during the quarter. AQR Capital Management LLC owned about 0.09% of Light & Wonder worth $8,571,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in LNW. Burgundy Asset Management Ltd. grew its holdings in Light & Wonder by 1.2% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company’s stock valued at $134,307,000 after buying an additional 15,902 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Light & Wonder by 128.0% in the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after acquiring an additional 511,081 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Light & Wonder by 95.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock worth $73,601,000 after acquiring an additional 438,443 shares during the period. Dimensional Fund Advisors LP raised its stake in Light & Wonder by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 802,922 shares of the company’s stock valued at $84,215,000 after purchasing an additional 12,317 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Light & Wonder by 102.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock valued at $78,320,000 after purchasing an additional 388,781 shares during the period. 88.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LNW. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Susquehanna cut their price target on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Truist Financial lifted their price objective on Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. UBS Group upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, Benchmark reiterated a “buy” rating and set a $114.00 price target on shares of Light & Wonder in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Light & Wonder currently has a consensus rating of “Hold” and an average price target of $106.60.

Light & Wonder Stock Down 0.2 %

Shares of NASDAQ LNW opened at $87.74 on Thursday. Light & Wonder, Inc. has a 52-week low of $67.71 and a 52-week high of $115.00. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. The business has a fifty day moving average of $104.34 and a two-hundred day moving average of $100.30. The stock has a market cap of $7.78 billion, a PE ratio of 36.41, a PEG ratio of 0.39 and a beta of 1.77.

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 the consensus estimate of $1.04 by ($0.14). The firm had revenue of $818.00 million for the quarter, compared to the consensus estimate of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 earnings per share. As a group, equities research analysts expect that Light & Wonder, Inc. will post 4.44 earnings per share for the current fiscal year.

Light & Wonder declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase programs are often 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.