Thrivent Financial for Lutherans Has $1.89 Million Stock Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Thrivent Financial for Lutherans lessened its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 41.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,844 shares of the company’s stock after selling 14,593 shares during the period. Thrivent Financial for Lutherans’ holdings in Light & Wonder were worth $1,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LNW. Chesapeake Capital Corp IL raised its holdings in Light & Wonder by 29.0% during the 3rd quarter. Chesapeake Capital Corp IL now owns 4,411 shares of the company’s stock worth $407,000 after purchasing an additional 991 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in Light & Wonder by 16.6% in the third quarter. Ashton Thomas Private Wealth LLC now owns 10,091 shares of the company’s stock valued at $916,000 after purchasing an additional 1,438 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Light & Wonder in the third quarter valued at $725,000. Entropy Technologies LP purchased a new position in shares of Light & Wonder during the 3rd quarter valued at $363,000. Finally, Axxcess Wealth Management LLC bought a new position in shares of Light & Wonder during the 3rd quarter worth $899,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and set a $114.00 price objective on shares of Light & Wonder in a report on Thursday, August 8th. Maxim Group assumed coverage on Light & Wonder in a report on Monday, August 26th. They set a “buy” rating and a $144.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Susquehanna decreased 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. Finally, Macquarie dropped their target price on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. One equities 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.36.

Light & Wonder Price Performance

Shares of NASDAQ LNW opened at $97.08 on Friday. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 0.59 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 50 day simple moving average of $95.69 and a two-hundred day simple moving average of $99.99.

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

Light & Wonder 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.