Principal Financial Group Inc. Has $18.83 Million Position in Light & Wonder, Inc. (NASDAQ:LNW)

Principal Financial Group Inc. decreased its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 31.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,504 shares of the company’s stock after selling 93,819 shares during the period. Principal Financial Group Inc.’s holdings in Light & Wonder were worth $18,827,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LNW. GAMMA Investing LLC grew its stake in shares of Light & Wonder by 59.6% in 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 bought a new stake in Light & Wonder in the 3rd quarter valued at about $108,000. Smith Anglin Financial LLC acquired a new position in shares of Light & Wonder during the 2nd quarter worth approximately $213,000. Cynosure Group LLC acquired a new position in shares of Light & Wonder during the 1st quarter worth approximately $310,000. Finally, Centaurus Financial Inc. raised its position in shares of Light & Wonder by 67.7% in the second quarter. Centaurus Financial Inc. now owns 3,167 shares of the company’s stock valued at $332,000 after buying an additional 1,279 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

Analysts Set New Price Targets

LNW has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price target 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 target on Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. 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 report on Wednesday, September 25th. Finally, Craig Hallum upgraded shares of Light & Wonder to a “strong-buy” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Light & Wonder has an average rating of “Moderate Buy” and an average target price of $107.36.

Light & Wonder Stock Performance

Shares of Light & Wonder stock opened at $93.10 on Friday. The company’s 50 day moving average price is $98.30 and its two-hundred day moving average price is $99.81. The firm has a market capitalization of $8.26 billion, a P/E ratio of 28.91, a P/E/G ratio of 0.43 and a beta of 1.75. Light & Wonder, Inc. has a fifty-two week low of $76.52 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.85 and a quick ratio of 1.58.

Light & Wonder (NASDAQ:LNW) last released 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 return on equity of 50.89% and a net margin of 9.30%. The company had revenue of $817.00 million for the quarter, compared to the consensus estimate of $826.65 million. On average, equities analysts forecast that Light & Wonder, Inc. will post 4.41 earnings per share for the current fiscal year.

Light & Wonder declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board 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.