Short Interest in Light & Wonder, Inc. (NASDAQ:LNW) Expands By 45.9%

Light & Wonder, Inc. (NASDAQ:LNW) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 2,320,000 shares, an increase of 45.9% from the November 15th total of 1,590,000 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average daily trading volume, of 751,900 shares, the short-interest ratio is presently 3.1 days.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LNW. B. Riley started coverage on Light & Wonder in a report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price on the stock. UBS Group upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. Macquarie dropped their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Maxim Group assumed coverage on shares of Light & Wonder in a research report on Monday, August 26th. They issued a “buy” rating and a $144.00 price target on the stock. Finally, Susquehanna dropped their price target on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.36.

Hedge Funds Weigh In On Light & Wonder

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC lifted its position in shares of Light & Wonder by 121.6% in the second quarter. SG Americas Securities LLC now owns 14,263 shares of the company’s stock worth $1,496,000 after buying an additional 7,828 shares in the last quarter. Raymond James & Associates grew its holdings 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 valued at $1,474,000 after purchasing an additional 400 shares in the last quarter. Ninety One UK Ltd increased its position in 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 purchasing an additional 511,081 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Light & Wonder by 6.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,278 shares of the company’s stock valued at $2,022,000 after purchasing an additional 1,236 shares in the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in Light & Wonder during the second quarter valued at $737,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Price Performance

NASDAQ LNW traded down $1.82 during trading hours on Friday, reaching $91.59. The company’s stock had a trading volume of 319,457 shares, compared to its average volume of 701,492. 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 has a 1 year low of $76.52 and a 1 year high of $115.00. The firm’s 50-day moving average price is $95.59 and its 200-day moving average price is $100.08. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 0.56 and a beta of 1.71.

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.