Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 64.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,763 shares of the company’s stock after selling 5,097 shares during the period. US Bancorp DE’s holdings in Light & Wonder were worth $251,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LNW. GAMMA Investing LLC raised its position in Light & Wonder by 59.6% during the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after acquiring an additional 152 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Light & Wonder during the 3rd quarter worth approximately $108,000. Smith Anglin Financial LLC purchased a new position in shares of Light & Wonder during the 2nd quarter valued at approximately $213,000. Cynosure Group LLC purchased a new position in shares of Light & Wonder during the 1st quarter valued at approximately $310,000. Finally, Centaurus Financial Inc. lifted its stake in shares of Light & Wonder by 67.7% in the 2nd quarter. Centaurus Financial Inc. now owns 3,167 shares of the company’s stock valued at $332,000 after purchasing an additional 1,279 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

Analysts Set New Price Targets

LNW has been the topic of several analyst reports. Susquehanna cut their price objective on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Benchmark restated a “buy” rating and issued a $114.00 price target on shares of Light & Wonder in a research note on Thursday, August 8th. Macquarie lowered their price target on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Maxim Group started coverage on Light & Wonder in a research report on Monday, August 26th. They issued a “buy” rating and a $144.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on 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 given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Light & Wonder presently has a consensus rating of “Moderate Buy” and an average price target of $107.36.

Light & Wonder Stock Down 10.0 %

Shares of LNW opened at $92.28 on Thursday. The stock has a 50 day moving average price of $98.59 and a 200 day moving average price of $99.86. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 0.43 and a beta of 1.75. Light & Wonder, Inc. has a one year low of $76.52 and a one year high of $115.00.

Light & Wonder (NASDAQ:LNW) last issued its earnings results on Tuesday, November 12th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. The business had revenue of $817.00 million during the quarter, compared to analysts’ expectations of $826.65 million. Light & Wonder had a net margin of 9.30% and a return on equity of 50.89%. Equities research analysts forecast that Light & Wonder, Inc. will post 4.41 earnings per share for the current fiscal year.

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