TLDR
- Light & Wonder bought back 1,334,127 shares before the previous day and 102,742 shares on the last recorded day
- The company authorized a new buyback program for up to 80 million shares through June 2027
- Stock posted a 2.8% one-day return and 15.6% gain over the past month
- Shares trade at $87.99, below analyst fair value estimate of $105.85
- iGaming gross gaming revenue grew 25% year-over-year in North America
Light & Wonder has disclosed details of its ongoing share buyback activity along with a new authorization for future repurchases. The gaming and entertainment company purchased 1,334,127 shares before the previous day and an additional 102,742 shares on the most recent trading day.
The buybacks occurred across both the Nasdaq and ASX exchanges. The company operates through Chess Depository Interests on the Australian exchange.
The board authorized a new buyback program allowing repurchases of up to 80 million shares. This program will run through June 2027.
Light & Wonder’s stock closed at $87.99 in recent trading. The share price jumped 2.8% in a single day.
Over the past month, shares rallied 15.6%. This represents a strong short-term performance for the stock.
Recent Price Movement
The one-year total shareholder return stands at -5.6%. This reflects some weakness over the longer term despite recent gains.
However, the five-year total return reached 127%. Long-term investors have seen substantial gains from holding the stock through various market cycles.
The company’s market capitalization sits at approximately $11 billion. Analyst ratings on the stock show a Buy recommendation with a price target of $206.00 Australian dollars.
Digital Gaming Growth
North American iGaming operations showed strong performance. Gross gaming revenue in this segment grew 25% year-over-year.
Digital transformation continues across the gaming industry. Increased online gaming penetration drives demand for Light & Wonder’s content platforms.
The company provides content aggregation and omnichannel solutions. These digital channels support recurring revenue streams as they scale.
Analyst fair value estimates place Light & Wonder at $105.85 per share. This suggests the current trading price represents a discount of approximately 16.9%.
The stock’s technical sentiment signal currently shows a Sell rating. Average trading volume reaches 367,630 shares.
Regulatory challenges remain in various jurisdictions. Competitive pressures continue across the gaming industry.
The buyback program forms part of the company’s capital management strategy. Share repurchases can enhance value for remaining shareholders by reducing the total share count.
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