Light & Wonder, Inc. (NASDAQ:LNW) Position Reduced by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust trimmed its position in Light & Wonder, Inc. (NASDAQ:LNW) by 52.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,756 shares of the company’s stock after selling 73,804 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.07% of Light & Wonder worth $5,966,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

LNW has been the topic of several research reports. Benchmark reaffirmed a “buy” rating and issued a $114.00 price target on shares of Light & Wonder in a report on Thursday, August 8th. B. Riley assumed coverage on Light & Wonder in a research report on Tuesday, October 8th. They set a “buy” rating and a $120.00 target price on the stock. Susquehanna decreased their price target 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 raised Light & Wonder to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Maxim Group assumed coverage on shares of Light & Wonder in a research note on Monday, August 26th. They set a “buy” rating and a $144.00 price objective for the company. One 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.36.

Light & Wonder Stock Performance

LNW stock opened at $94.22 on Friday. The firm has a 50 day simple moving average of $100.08 and a 200 day simple moving average of $99.39. Light & Wonder, Inc. has a 52 week low of $72.76 and a 52 week high of $115.00. The stock has a market cap of $8.36 billion, a P/E ratio of 28.38, a P/E/G ratio of 0.40 and a beta of 1.75. 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 (NASDAQ:LNW) last issued its earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The company had revenue of $818.00 million for the quarter, compared to analyst estimates of $798.09 million. During the same period last year, the business earned $1.02 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Research analysts anticipate that Light & Wonder, Inc. will post 4.41 earnings per share for the current fiscal year.

Light & Wonder announced that its board has authorized a share buyback program on Wednesday, August 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.