Healthcare of Ontario Pension Plan Trust Fund Buys New Shares in Light & Wonder, Inc. (NASDAQ:LNW)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW) in the third quarter, HoldingsChannel.com reports. The firm purchased 278,600 shares of the company’s stock, valued at approximately $25,277,000.

A number of other large investors have also recently bought and sold shares of the business. Bridgewater Associates LP acquired a new stake in Light & Wonder during the third quarter worth approximately $1,347,000. BNP Paribas Financial Markets boosted its holdings in shares of Light & Wonder by 108.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,434 shares of the company’s stock worth $1,128,000 after buying an additional 6,472 shares in the last quarter. FMR LLC grew its position in shares of Light & Wonder by 28.7% during the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock worth $131,745,000 after buying an additional 324,088 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Light & Wonder in the 3rd quarter valued at $2,059,000. Finally, Algert Global LLC boosted its stake in Light & Wonder by 118.5% during the third quarter. Algert Global LLC now owns 61,606 shares of the company’s stock worth $5,590,000 after acquiring an additional 33,410 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LNW. Craig Hallum upgraded shares of Light & Wonder to a “strong-buy” rating in a report on Friday, October 4th. Truist Financial dropped their price target 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. Deutsche Bank Aktiengesellschaft raised 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. JPMorgan Chase & Co. increased their target price on Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Susquehanna decreased their price target on shares of 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Light & Wonder currently has an average rating of “Moderate Buy” and an average target price of $107.36.

Light & Wonder Price Performance

LNW opened at $97.08 on Friday. The firm’s fifty day moving average price is $95.69 and its two-hundred day moving average price is $99.99. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 0.58 and a beta of 1.75. 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, Inc. has a 1 year low of $76.52 and a 1 year high of $115.00.

Light & Wonder declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.