Quarry LP Makes New $51,000 Investment in Light & Wonder, Inc. (NASDAQ:LNW)

Quarry LP purchased a new position in shares of Light & Wonder, Inc. (NASDAQ:LNW) during the third quarter, Holdings Channel.com reports. The firm purchased 559 shares of the company’s stock, valued at approximately $51,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Millennium Management LLC lifted its holdings in shares of Light & Wonder by 573.3% in the 2nd quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after purchasing an additional 493,295 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Light & Wonder by 121.6% during the second quarter. SG Americas Securities LLC now owns 14,263 shares of the company’s stock valued at $1,496,000 after buying an additional 7,828 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Light & Wonder during the second quarter valued at about $23,597,000. Intech Investment Management LLC acquired a new stake in shares of Light & Wonder in the 2nd quarter worth about $1,620,000. Finally, Thrivent Financial for Lutherans lifted its position in Light & Wonder by 57.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 35,437 shares of the company’s stock valued at $3,716,000 after acquiring an additional 12,871 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Price Performance

LNW opened at $93.14 on Wednesday. The firm has a 50-day moving average price of $95.44 and a 200-day moving average price of $100.20. Light & Wonder, Inc. has a twelve month low of $76.52 and a twelve month high of $115.00. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 0.59 and a beta of 1.71.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Macquarie lowered their price objective on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Maxim Group assumed coverage on Light & Wonder in a research note on Monday, August 26th. They set a “buy” rating and a $144.00 price objective on the stock. B. Riley began coverage on shares of Light & Wonder in a research note on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price for the company. Stifel Nicolaus dropped their price target on shares of Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a research report on Wednesday, September 25th. Finally, Truist Financial reduced their price objective on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Light & Wonder currently has an average rating of “Moderate Buy” and a consensus target price 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.