Smith Anglin Financial LLC Makes New Investment in Light & Wonder, Inc. (NASDAQ:LNW)

Smith Anglin Financial LLC acquired a new position in Light & Wonder, Inc. (NASDAQ:LNW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,035 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds have also bought and sold shares of the business. Rise Advisors LLC purchased a new position in Light & Wonder during the first quarter valued at approximately $38,000. Fidelis Capital Partners LLC bought a new position in shares of Light & Wonder during the first quarter worth $38,000. GAMMA Investing LLC lifted its stake in Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after purchasing an additional 152 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Light & Wonder in the fourth quarter worth about $62,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Light & Wonder in the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Macquarie upped their target price on shares of Light & Wonder from $120.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday. Mizuho cut their target price on Light & Wonder from $83.00 to $79.00 and set an “underperform” rating on the stock in a research report on Thursday, May 9th. Benchmark reiterated a “buy” rating and set a $114.00 price objective on shares of Light & Wonder in a research report on Thursday. Finally, Susquehanna downgraded shares of Light & Wonder from a “positive” rating to a “neutral” rating and cut their price target for the company from $111.00 to $95.00 in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $99.75.

Light & Wonder Stock Up 1.8 %

Shares of Light & Wonder stock traded up $1.81 on Thursday, reaching $102.31. The stock had a trading volume of 1,000,754 shares, compared to its average volume of 655,171. The company has a quick ratio of 1.72, a current ratio of 1.98 and a debt-to-equity ratio of 4.61. The stock has a market capitalization of $9.22 billion, a P/E ratio of 42.45, a P/E/G ratio of 0.42 and a beta of 1.79. The company has a 50 day moving average price of $101.67 and a 200 day moving average price of $96.47. Light & Wonder, Inc. has a 1 year low of $67.71 and a 1 year high of $109.30.

Light & Wonder (NASDAQ:LNW) last announced its earnings results on Wednesday, May 8th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.23. Light & Wonder had a return on equity of 32.27% and a net margin of 7.43%. The firm had revenue of $756.00 million for the quarter, compared to the consensus estimate of $732.01 million. As a group, equities research analysts forecast that Light & Wonder, Inc. will post 4.23 EPS for the current year.

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.