Tidal Investments LLC Grows Position in Light & Wonder, Inc. (NASDAQ:LNW)

Tidal Investments LLC grew its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 18.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,038 shares of the company’s stock after buying an additional 1,226 shares during the period. Tidal Investments LLC’s holdings in Light & Wonder were worth $729,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates raised its stake in shares of Light & Wonder by 2.9% in the second quarter. Raymond James & Associates now owns 14,056 shares of the company’s stock worth $1,474,000 after purchasing an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Light & Wonder by 6.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,278 shares of the company’s stock valued at $2,022,000 after acquiring an additional 1,236 shares during the period. Maryland State Retirement & Pension System purchased a new stake in shares of Light & Wonder in the 2nd quarter valued at $737,000. Arizona State Retirement System boosted its holdings in shares of Light & Wonder by 1.6% in the 2nd quarter. Arizona State Retirement System now owns 25,148 shares of the company’s stock valued at $2,638,000 after acquiring an additional 401 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Light & Wonder by 398.5% in the second quarter. Los Angeles Capital Management LLC now owns 93,679 shares of the company’s stock worth $9,825,000 after acquiring an additional 74,886 shares during the period. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on LNW. Craig Hallum raised shares of Light & Wonder to a “strong-buy” rating in a report on Friday, October 4th. Truist Financial lowered their target price 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. Susquehanna reduced their price target 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. Stifel Nicolaus lowered their price objective on Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a research report on Wednesday, September 25th. Finally, UBS Group raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. One equities research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $107.36.

Light & Wonder Stock Performance

LNW opened at $85.42 on Friday. The firm’s fifty day simple moving average is $94.83 and its two-hundred day simple moving average is $99.83. Light & Wonder, Inc. has a 52-week low of $76.52 and a 52-week high of $115.00. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 0.55 and a beta of 1.71. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

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.