Light & Wonder, Inc. (NASDAQ:LNW) Short Interest Update

Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 4,600,000 shares, a growth of 34.9% from the April 30th total of 3,410,000 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is currently 4.5 days. Approximately 5.5% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Macquarie decreased their price objective on Light & Wonder from $125.00 to $120.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Benchmark lowered their price objective on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, May 12th. JPMorgan Chase & Co. boosted their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Truist Financial reduced their target price on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Citigroup raised shares of Light & Wonder from a "neutral" rating to a "buy" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $106.82.

Light & Wonder Stock Performance

Shares of LNW stock traded up $1.21 on Friday, reaching $87.01. The stock had a trading volume of 803,666 shares, compared to its average volume of 828,407. Light & Wonder has a 12 month low of $75.46 and a 12 month high of $115.00. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 0.35 and a beta of 1.23. The firm's 50-day moving average is $84.46 and its two-hundred day moving average is $91.17. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Light & Wonder (NASDAQ:LNW - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.23). The business had revenue of $774.00 million during the quarter, compared to the consensus estimate of $802.93 million. Light & Wonder had a net margin of 9.30% and a return on equity of 49.91%. Light & Wonder's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. On average, research analysts expect that Light & Wonder will post 4.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Light & Wonder

Hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc grew its position in shares of Light & Wonder by 4,783.3% during the 1st quarter. Versant Capital Management Inc now owns 293 shares of the company's stock worth $25,000 after purchasing an additional 287 shares in the last quarter. R Squared Ltd bought a new stake in shares of Light & Wonder in the fourth quarter valued at approximately $35,000. Farther Finance Advisors LLC boosted its stake in shares of Light & Wonder by 3,861.1% in the first quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock valued at $63,000 after buying an additional 695 shares during the period. Blue Trust Inc. grew its position in Light & Wonder by 194.3% during the fourth quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after buying an additional 474 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Light & Wonder during the 1st quarter worth $71,000. 88.08% of the stock is owned by institutional investors.

Light & Wonder Company Profile

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.