Dynamic Technology Lab Private Ltd Takes Position in Light & Wonder, Inc. (NASDAQ:LNW)

Dynamic Technology Lab Private Ltd purchased a new position in Light & Wonder, Inc. (NASDAQ:LNW) during the 3rd quarter, HoldingsChannel reports. The firm purchased 22,689 shares of the company’s stock, valued at approximately $2,059,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC lifted its stake in Light & Wonder by 5.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,321 shares of the company’s stock valued at $441,000 after buying an additional 242 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Light & Wonder during the 1st quarter valued at about $799,000. Price T Rowe Associates Inc. MD grew its position in Light & Wonder by 102.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock worth $78,320,000 after purchasing an additional 388,781 shares during the last quarter. Comerica Bank increased its stake in shares of Light & Wonder by 85.1% in the first quarter. Comerica Bank now owns 47,874 shares of the company’s stock valued at $4,887,000 after purchasing an additional 22,017 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Light & Wonder by 59.6% during the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after buying an additional 152 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LNW shares. Susquehanna decreased their price objective on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. B. Riley began coverage on Light & Wonder in a report on Tuesday, October 8th. They set a “buy” rating and a $120.00 price target on the stock. UBS Group upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 25th. Macquarie dropped their price target on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Finally, Craig Hallum upgraded shares of Light & Wonder to a “strong-buy” rating in a report on Friday, October 4th. One investment 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 stock currently has an average rating of “Moderate Buy” and an average target price of $107.36.

Light & Wonder Stock Performance

Shares of NASDAQ LNW opened at $98.45 on Tuesday. The stock’s fifty day simple moving average is $96.28 and its 200 day simple moving average is $99.97. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 0.58 and a beta of 1.75. 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, Inc. has a 52-week low of $76.52 and a 52-week high of $115.00.

Light & Wonder declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.