Moody Aldrich Partners LLC Lowers Stake in Light & Wonder, Inc. (NASDAQ:LNW)

Moody Aldrich Partners LLC cut its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 92.9% during the third quarter, HoldingsChannel reports. The fund owned 5,576 shares of the company’s stock after selling 72,729 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Light & Wonder were worth $506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Michigan Retirement System grew its position in shares of Light & Wonder by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 22,099 shares of the company’s stock worth $2,256,000 after buying an additional 500 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in Light & Wonder by 1.6% in the first quarter. Ashton Thomas Private Wealth LLC now owns 8,653 shares of the company’s stock worth $883,000 after purchasing an additional 133 shares during the last quarter. SpiderRock Advisors LLC acquired a new position in shares of Light & Wonder during the first quarter worth $436,000. Retirement Systems of Alabama lifted its holdings in shares of Light & Wonder by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 113,077 shares of the company’s stock valued at $11,544,000 after purchasing an additional 298 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Light & Wonder by 114.0% during the 1st quarter. BNP Paribas Financial Markets now owns 91,304 shares of the company’s stock valued at $9,321,000 after purchasing an additional 48,629 shares during the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LNW shares. Stifel Nicolaus reduced their target price on Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a research report on Wednesday, September 25th. Truist Financial decreased 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. Maxim Group assumed coverage on shares of Light & Wonder in a research report on Monday, August 26th. They set a “buy” rating and a $144.00 target price on the stock. Susquehanna cut 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. One investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.36.

Light & Wonder Price Performance

NASDAQ:LNW opened at $93.43 on Friday. The firm’s fifty day moving average is $101.73 and its two-hundred day moving average is $99.41. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 0.39 and a beta of 1.76. Light & Wonder, Inc. has a one year low of $72.06 and a one year high of $115.00. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85.

Light & Wonder (NASDAQ:LNW) last issued its earnings results on Wednesday, August 7th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). The company had revenue of $818.00 million during the quarter, compared to analysts’ expectations of $798.09 million. Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.02 EPS. Research analysts expect that Light & Wonder, Inc. will post 4.44 EPS for the current year.

Light & Wonder declared that its board has initiated a stock repurchase plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Light & Wonder Company Profile

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.