Light & Wonder, Inc. (NASDAQ:LNW – Get Rating) saw a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 4,680,000 shares, a decrease of 14.8% from the November 30th total of 5,490,000 shares. Currently, 5.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 633,100 shares, the short-interest ratio is presently 7.4 days.
Light & Wonder Stock Up 0.5 %
Shares of NASDAQ LNW opened at $58.60 on Tuesday. The firm's 50-day moving average price is $60.47 and its 200-day moving average price is $53.01. The company has a current ratio of 2.55, a quick ratio of 2.38 and a debt-to-equity ratio of 3.14. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 1.49 and a beta of 1.74. Light & Wonder has a 12-month low of $40.10 and a 12-month high of $70.59.
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Light & Wonder (NASDAQ:LNW – Get Rating) last announced its earnings results on Wednesday, November 9th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.19). The business had revenue of $648.00 million for the quarter, compared to analysts' expectations of $629.73 million. Light & Wonder had a net margin of 155.19% and a negative return on equity of 5.63%. On average, equities research analysts anticipate that Light & Wonder will post -1.83 EPS for the current fiscal year.
Hedge Funds Weigh In On Light & Wonder
Several hedge funds have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. bought a new position in Light & Wonder during the 3rd quarter valued at about $31,000. Penserra Capital Management LLC bought a new position in Light & Wonder in the 3rd quarter worth about $34,000. Signaturefd LLC bought a new position in Light & Wonder in the 3rd quarter worth about $45,000. Macquarie Group Ltd. bought a new position in Light & Wonder in the 3rd quarter worth about $124,000. Finally, Ellevest Inc. bought a new position in Light & Wonder in the 3rd quarter worth about $79,000. 96.42% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Light & Wonder from $48.00 to $52.00 in a research note on Friday, November 11th. Craig Hallum decreased their price target on shares of Light & Wonder to $85.00 in a research note on Tuesday, November 15th. Susquehanna boosted their price target on shares of Light & Wonder from $55.00 to $61.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 15th. Macquarie assumed coverage on shares of Light & Wonder in a research note on Friday, November 11th. They issued an "outperform" rating and a $65.00 price target on the stock. Finally, Credit Suisse Group boosted their price target on shares of Light & Wonder from $47.00 to $48.00 and gave the stock an "underperform" rating in a research note on Thursday, November 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $62.38.
Light & Wonder Company Profile
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Light & Wonder, Inc develops technology-based products and services, and related content for the gaming, lottery, social and digital gaming industries in the United States and internationally. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; table products, including shufflers; and perpetual licenses to proprietary table games.
Further Reading
- Get a free copy of the StockNews.com research report on Light & Wonder (LNW)
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