310 Shares in Light & Wonder, Inc. (NASDAQ:LNW) Purchased by True Wealth Design LLC

True Wealth Design LLC purchased a new stake in Light & Wonder, Inc. (NASDAQ:LNW) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 310 shares of the company’s stock, valued at approximately $28,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ninety One UK Ltd raised its position in shares of Light & Wonder by 128.0% in the 2nd quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after buying an additional 511,081 shares during the period. Millennium Management LLC raised its holdings in shares of Light & Wonder by 573.3% in the 2nd quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after purchasing an additional 493,295 shares during the period. FMR LLC lifted its stake in shares of Light & Wonder by 28.7% in the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock valued at $131,745,000 after purchasing an additional 324,088 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Light & Wonder during the 3rd quarter worth about $25,277,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Light & Wonder during the 2nd quarter worth approximately $23,597,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Stock Up 3.2 %

Shares of NASDAQ:LNW opened at $98.06 on Tuesday. The firm has a market cap of $8.66 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 0.57 and a beta of 1.71. The company has a fifty day simple moving average of $95.03 and a 200 day simple moving average of $100.08. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a 12-month low of $76.52 and a 12-month high of $115.00.

Light & Wonder announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LNW shares. Truist Financial decreased their price objective on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Craig Hallum upgraded Light & Wonder to a “strong-buy” rating in a report on Friday, October 4th. Susquehanna reduced their price objective on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upped their target price on Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Finally, Maxim Group assumed coverage on Light & Wonder in a report on Monday, August 26th. They set a “buy” rating and a $144.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.36.

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.