3,716 Shares in Light & Wonder, Inc. (NASDAQ:LNW) Bought by Quest Partners LLC

Quest Partners LLC bought a new stake in Light & Wonder, Inc. (NASDAQ:LNW) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,716 shares of the company’s stock, valued at approximately $337,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Ninety One UK Ltd increased its position in shares of Light & Wonder by 128.0% in the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock valued at $95,472,000 after buying an additional 511,081 shares in the last quarter. Millennium Management LLC increased its position in shares of Light & Wonder by 573.3% in the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock valued at $60,761,000 after buying an additional 493,295 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Light & Wonder by 102.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock valued at $78,320,000 after buying an additional 388,781 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Light & Wonder in the second quarter valued at $23,597,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Light & Wonder in the second quarter valued at $15,539,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LNW. UBS Group upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 25th. Susquehanna dropped their price objective on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Craig Hallum upgraded Light & Wonder to a “strong-buy” rating in a research report on Friday, October 4th. Maxim Group initiated coverage on Light & Wonder in a research report on Monday, August 26th. They set a “buy” rating and a $144.00 price objective for the company. Finally, Macquarie dropped their price objective on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $107.36.

Light & Wonder Stock Up 2.1 %

Shares of NASDAQ:LNW opened at $98.45 on Tuesday. The stock’s 50-day moving average price is $96.28 and its two-hundred day moving average price is $99.97. 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. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 0.58 and a beta of 1.75.

Light & Wonder declared that its board has authorized a stock repurchase plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.