Light & Wonder, Inc. (NASDAQ:LNW) Shares Purchased by Commerce Bank

Commerce Bank raised its position in Light & Wonder, Inc. (NASDAQ:LNW) by 10.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,396 shares of the company’s stock after acquiring an additional 2,887 shares during the period. Commerce Bank’s holdings in Light & Wonder were worth $2,758,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Light & Wonder in the 3rd quarter valued at about $29,000. GAMMA Investing LLC raised its stake in shares of Light & Wonder by 59.6% in 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. Allspring Global Investments Holdings LLC acquired a new position in shares of Light & Wonder in the 3rd quarter worth approximately $108,000. Smith Anglin Financial LLC purchased a new position in shares of Light & Wonder during the 2nd quarter worth approximately $213,000. Finally, Centaurus Financial Inc. increased its holdings in Light & Wonder by 67.7% in the 2nd quarter. Centaurus Financial Inc. now owns 3,167 shares of the company’s stock valued at $332,000 after purchasing an additional 1,279 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Trading Up 2.1 %

NASDAQ:LNW opened at $96.42 on Friday. Light & Wonder, Inc. has a 1 year low of $76.52 and a 1 year high of $115.00. The stock has a market cap of $8.51 billion, a P/E ratio of 29.94, a P/E/G ratio of 0.57 and a beta of 1.75. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The stock has a 50-day simple moving average of $96.53 and a 200-day simple moving average of $99.89.

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

Analyst Ratings Changes

A number of research firms have commented on LNW. Truist Financial decreased their price target on Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $114.00 price objective on shares of Light & Wonder in a research note on Thursday, August 8th. B. Riley assumed coverage on shares of Light & Wonder in a research note on Tuesday, October 8th. They set a “buy” rating and a $120.00 target price on the stock. Finally, Craig Hallum raised shares of Light & Wonder to a “strong-buy” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.36.

Light & Wonder 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.