Weiss Asset Management LP Acquires New Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Weiss Asset Management LP bought a new position in Light & Wonder, Inc. (NASDAQ:LNW) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 25,364 shares of the company’s stock, valued at approximately $2,301,000.

Several other institutional investors and hedge funds have also bought and sold shares of LNW. True Wealth Design LLC bought a new position in shares of Light & Wonder in the third quarter worth $28,000. Capital Performance Advisors LLP purchased a new position in Light & Wonder during the third quarter worth about $29,000. GAMMA Investing LLC raised its holdings in shares of Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after acquiring an additional 152 shares in the last quarter. Quarry LP purchased a new stake in shares of Light & Wonder in the 3rd quarter valued at about $51,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Light & Wonder during the 3rd quarter valued at about $108,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Light & Wonder Stock Performance

NASDAQ LNW opened at $97.63 on Friday. The stock has a market cap of $8.62 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 0.60 and a beta of 1.71. Light & Wonder, Inc. has a fifty-two week low of $76.52 and a fifty-two week high of $115.00. The stock has a 50 day simple moving average of $95.26 and a two-hundred day simple moving average of $100.18. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LNW. Truist Financial decreased their price objective on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Maxim Group started coverage on shares of Light & Wonder in a research report on Monday, August 26th. They set a “buy” rating and a $144.00 price objective on the stock. Stifel Nicolaus cut 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 report on Wednesday, September 25th. B. Riley began coverage on Light & Wonder in a research note on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Susquehanna dropped their price target on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.36.

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.