Light & Wonder, Inc. (NASDAQ:LNW) Short Interest Up 18.5% in December

Light & Wonder, Inc. (NASDAQ:LNW) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 2,750,000 shares, an increase of 18.5% from the November 30th total of 2,320,000 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average daily trading volume, of 723,000 shares, the short-interest ratio is currently 3.8 days.

Light & Wonder Stock Up 1.4 %

LNW stock traded up $1.16 during trading on Tuesday, reaching $86.38. The stock had a trading volume of 522,207 shares, compared to its average volume of 696,627. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. The firm has a fifty day moving average price of $93.89 and a 200 day moving average price of $99.44. The company has a market capitalization of $7.63 billion, a P/E ratio of 26.83, a PEG ratio of 0.55 and a beta of 1.71. Light & Wonder has a 1-year low of $76.52 and a 1-year high of $115.00.

Wall Street Analyst Weigh In

LNW has been the subject of a number of research reports. Craig Hallum raised shares of Light & Wonder to a “strong-buy” rating in a research report on Friday, October 4th. Susquehanna decreased their price target on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. UBS Group raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 25th. Macquarie decreased their target price on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Finally, Stifel Nicolaus cut their price objective on Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Light & Wonder has a consensus rating of “Moderate Buy” and a consensus target price of $107.36.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LNW. Tidal Investments LLC increased its stake in shares of Light & Wonder by 18.0% in the third quarter. Tidal Investments LLC now owns 8,038 shares of the company’s stock worth $729,000 after buying an additional 1,226 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Light & Wonder during the 3rd quarter worth $222,000. Neo Ivy Capital Management bought a new stake in shares of Light & Wonder in the 3rd quarter worth about $104,000. Barclays PLC increased its position in shares of Light & Wonder by 539.6% in the 3rd quarter. Barclays PLC now owns 155,852 shares of the company’s stock worth $14,142,000 after purchasing an additional 131,486 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Light & Wonder by 2.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 35,960 shares of the company’s stock valued at $3,263,000 after purchasing an additional 804 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.