278,600 Shares in Light & Wonder, Inc. (NASDAQ:LNW) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Light & Wonder, Inc. (NASDAQ:LNW) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 278,600 shares of the company’s stock, valued at approximately $25,277,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.31% of Light & Wonder at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Light & Wonder during the third quarter worth about $29,000. GAMMA Investing LLC increased its holdings in shares of Light & Wonder by 59.6% during the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after purchasing an additional 152 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Light & Wonder during the third quarter worth approximately $108,000. Smith Anglin Financial LLC acquired a new stake in shares of Light & Wonder in the second quarter valued at approximately $213,000. Finally, Centaurus Financial Inc. boosted its stake in shares of Light & Wonder by 67.7% in the second quarter. Centaurus Financial Inc. now owns 3,167 shares of the company’s stock valued at $332,000 after buying an additional 1,279 shares during the period. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Performance

Light & Wonder stock opened at $97.08 on Friday. The business has a 50 day moving average of $95.69 and a 200-day moving average of $99.99. The company has a market capitalization of $8.57 billion, a P/E ratio of 30.15, a P/E/G ratio of 0.58 and a beta of 1.75. Light & Wonder, Inc. has a 1 year low of $76.52 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61.

Light & Wonder announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

LNW has been the subject of several analyst reports. Truist Financial dropped their price objective on Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Susquehanna cut their price objective on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Stifel Nicolaus decreased their target price on shares of Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a report on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and set a $114.00 price target on shares of Light & Wonder in a report on Thursday, August 8th. Finally, Maxim Group started coverage on shares of Light & Wonder in a research note on Monday, August 26th. They issued a “buy” rating and a $144.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Light & Wonder presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.36.

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.