Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 3.1% during the third quarter, HoldingsChannel reports. The firm owned 31,633 shares of the company’s stock after selling 1,015 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Light & Wonder were worth $2,870,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LNW. Ninety One UK Ltd lifted its holdings in Light & Wonder by 128.0% in the 2nd quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after buying an additional 511,081 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Light & Wonder by 573.3% in the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after acquiring an additional 493,295 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Light & Wonder by 102.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock valued at $78,320,000 after purchasing an additional 388,781 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Light & Wonder during the 2nd quarter valued at approximately $23,597,000. Finally, WINTON GROUP Ltd purchased a new stake in Light & Wonder during the 2nd quarter worth approximately $15,539,000. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Price Performance

Shares of NASDAQ LNW opened at $92.28 on Thursday. Light & Wonder, Inc. has a 1-year low of $76.52 and a 1-year high of $115.00. The firm has a market capitalization of $8.19 billion, a PE ratio of 28.66, a P/E/G ratio of 0.43 and a beta of 1.75. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.85 and a quick ratio of 1.58. The business’s fifty day moving average price is $98.59 and its two-hundred day moving average price is $99.86.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.18. Light & Wonder had a net margin of 9.30% and a return on equity of 50.89%. The firm had revenue of $817.00 million for the quarter, compared to the consensus estimate of $826.65 million. On average, research analysts expect that Light & Wonder, Inc. will post 4.41 EPS for the current year.

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

Analyst Upgrades and Downgrades

LNW has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. B. Riley initiated coverage on shares of Light & Wonder in a research note on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $114.00 price target on shares of Light & Wonder in a research note on Thursday, August 8th. Susquehanna cut their price objective on 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, UBS Group upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.36.

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.