Squarepoint Ops LLC Takes $3.89 Million Position in Light & Wonder, Inc. (NASDAQ:LNW)

Squarepoint Ops LLC purchased a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 37,076 shares of the company’s stock, valued at approximately $3,889,000.

Other hedge funds also recently modified their holdings of the company. Rise Advisors LLC acquired a new position in shares of Light & Wonder during the first quarter worth $38,000. Fidelis Capital Partners LLC acquired a new position in shares of Light & Wonder during the first quarter worth $38,000. GAMMA Investing LLC lifted 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 worth $43,000 after purchasing an additional 152 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of Light & Wonder during the fourth quarter worth $69,000. Finally, KBC Group NV bought a new position in Light & Wonder during the fourth quarter worth $153,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LNW. Benchmark reissued a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a research note on Thursday, August 8th. Maxim Group began coverage on shares of Light & Wonder in a research note on Monday, August 26th. They set a “buy” rating and a $144.00 target price for the company. Stifel Nicolaus lowered their target price on shares of Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a research note on Wednesday, September 25th. UBS Group raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Light & Wonder has an average rating of “Hold” and an average target price of $106.60.

Light & Wonder Trading Down 3.1 %

NASDAQ:LNW opened at $87.91 on Wednesday. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.85 and a quick ratio of 1.58. The firm has a 50-day moving average of $104.63 and a 200-day moving average of $100.38. The company has a market cap of $7.80 billion, a PE ratio of 36.48, a PEG ratio of 0.39 and a beta of 1.77. Light & Wonder, Inc. has a one year low of $67.71 and a one year high of $115.00.

Light & Wonder (NASDAQ:LNW) last posted its earnings results on Wednesday, August 7th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.14). The business had revenue of $818.00 million for the quarter, compared to the consensus estimate of $798.09 million. Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 earnings per share. As a group, equities research analysts expect that Light & Wonder, Inc. will post 4.44 EPS for the current fiscal year.

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

Light & Wonder 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.