Light & Wonder, Inc. (NASDAQ:LNW) Short Interest Update

Light & Wonder, Inc. (NASDAQ:LNW) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 2,320,000 shares, a growth of 45.9% from the November 15th total of 1,590,000 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 751,900 shares, the short-interest ratio is presently 3.1 days.

Light & Wonder Stock Down 1.9 %

Shares of LNW traded down $1.82 during trading hours on Friday, hitting $91.59. The company had a trading volume of 319,457 shares, compared to its average volume of 701,492. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 0.56 and a beta of 1.71. The firm has a fifty day moving average price of $95.59 and a 200-day moving average price of $100.08. Light & Wonder has a 52-week low of $76.52 and a 52-week high of $115.00. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88.

Analyst Upgrades and Downgrades

Several brokerages have commented on LNW. Craig Hallum upgraded shares of Light & Wonder to a “strong-buy” rating in a report on Friday, October 4th. Stifel Nicolaus decreased their price target 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 Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 25th. Truist Financial decreased their target price on Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Macquarie dropped their price target on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.36.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LNW. State Street Corp increased its position in shares of Light & Wonder by 2.2% during the third quarter. State Street Corp now owns 2,651,627 shares of the company’s stock valued at $240,582,000 after acquiring an additional 56,890 shares in the last quarter. FMR LLC increased its holdings in shares of Light & Wonder by 28.7% in the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock worth $131,745,000 after purchasing an additional 324,088 shares in the last quarter. Ninety One UK Ltd increased its holdings in shares of Light & Wonder by 128.0% in the 2nd quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after purchasing an additional 511,081 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Light & Wonder by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 802,922 shares of the company’s stock worth $84,215,000 after purchasing an additional 12,317 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Light & Wonder by 573.3% during the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock valued at $60,761,000 after purchasing an additional 493,295 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

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.