Intech Investment Management LLC Has $518,000 Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Intech Investment Management LLC lessened its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 63.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,712 shares of the company’s stock after selling 9,731 shares during the quarter. Intech Investment Management LLC’s holdings in Light & Wonder were worth $518,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in Light & Wonder in the third quarter valued at approximately $29,000. 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 worth $43,000 after acquiring an additional 152 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Light & Wonder during the third quarter worth about $108,000. Smith Anglin Financial LLC bought a new stake in Light & Wonder in the 2nd quarter valued at $213,000. 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 purchasing an additional 1,279 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Stock Performance

Shares of LNW opened at $95.04 on Monday. Light & Wonder, Inc. has a one year low of $76.52 and a one year high of $115.00. The company has a market cap of $8.39 billion, a PE ratio of 29.52, a P/E/G ratio of 0.57 and a beta of 1.75. The stock has a 50-day moving average of $95.03 and a 200-day moving average of $100.04. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61.

Light & Wonder announced that its Board of Directors has approved a share buyback plan on Wednesday, August 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently commented on LNW shares. Truist Financial lowered their price target on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Stifel Nicolaus lowered their target price on Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. raised their target price on Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Maxim Group initiated 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 for the company. Finally, B. Riley started coverage on shares of Light & Wonder in a research report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.36.

About Light & Wonder

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.