Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Abacus Planning Group Inc.

Abacus Planning Group Inc. lowered its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 17.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,879 shares of the company’s stock after selling 832 shares during the quarter. Abacus Planning Group Inc.’s holdings in Light & Wonder were worth $352,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in shares of Light & Wonder during the first quarter worth $38,000. Fidelis Capital Partners LLC acquired a new position in Light & Wonder during the 1st quarter worth about $38,000. GAMMA Investing LLC boosted its holdings in Light & Wonder by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after acquiring an additional 152 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in Light & Wonder in the 4th quarter valued at about $69,000. Finally, KBC Group NV acquired a new position in Light & Wonder in the 4th quarter valued at about $153,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Wall Street Analysts Forecast Growth

LNW has been the subject of several recent research reports. Truist Financial raised their price objective on shares of Light & Wonder from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Stifel Nicolaus decreased their price target on shares of Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a research report on Wednesday, September 25th. Maxim Group initiated 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. Susquehanna decreased their target price on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Finally, Macquarie cut their price target on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Light & Wonder currently has a consensus rating of “Hold” and an average price target of $106.60.

Light & Wonder Trading Down 0.2 %

LNW opened at $87.74 on Thursday. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. Light & Wonder, Inc. has a one year low of $67.71 and a one year high of $115.00. The company has a market cap of $7.78 billion, a P/E ratio of 36.41, a PEG ratio of 0.39 and a beta of 1.77. The business’s 50-day simple moving average is $104.34 and its 200-day simple moving average is $100.30.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data 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). The company 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 firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.02 EPS. As a group, equities research analysts expect that Light & Wonder, Inc. will post 4.44 EPS for the current fiscal year.

Light & Wonder announced that its board has authorized a stock buyback plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.