Emerald Advisers LLC Sells 83,590 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Emerald Advisers LLC reduced its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 47.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 92,844 shares of the company’s stock after selling 83,590 shares during the period. Emerald Advisers LLC owned about 0.10% of Light & Wonder worth $8,424,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new position in shares of Light & Wonder in the 1st quarter worth approximately $38,000. GAMMA Investing LLC boosted its stake in shares of 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 buying an additional 152 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Light & Wonder in the 3rd quarter worth approximately $108,000. Smith Anglin Financial LLC purchased a new position in shares of Light & Wonder in the 2nd quarter worth approximately $213,000. Finally, Cynosure Group LLC purchased a new position in shares of Light & Wonder in the 1st quarter worth approximately $310,000. 88.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on LNW shares. Maxim Group started coverage on Light & Wonder in a research note on Monday, August 26th. They issued a “buy” rating and a $144.00 price objective on the stock. Truist Financial dropped their price objective on Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Macquarie dropped their price objective on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Benchmark reiterated a “buy” rating and issued a $114.00 price objective on shares of Light & Wonder in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft upped 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, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Light & Wonder currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.36.

Light & Wonder Stock Performance

LNW stock traded up $0.44 during midday trading on Friday, reaching $94.22. 402,455 shares of the company’s stock traded hands, compared to its average volume of 647,788. The company has a 50-day moving average price of $100.08 and a two-hundred day moving average price of $99.39. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. Light & Wonder, Inc. has a 52 week low of $72.76 and a 52 week high of $115.00. The firm has a market capitalization of $8.36 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 0.40 and a beta of 1.75.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.14). The firm had revenue of $818.00 million during 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 for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 EPS. As a group, equities analysts anticipate that Light & Wonder, Inc. will post 4.41 EPS for the current year.

Light & Wonder declared that its board has approved a share buyback plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership 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.