Los Angeles Capital Management LLC Sells 60,523 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Los Angeles Capital Management LLC lessened its position in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 64.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,156 shares of the company's stock after selling 60,523 shares during the quarter. Los Angeles Capital Management LLC's holdings in Light & Wonder were worth $3,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LNW. Burgundy Asset Management Ltd. raised its holdings in Light & Wonder by 1.2% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company's stock valued at $134,307,000 after acquiring an additional 15,902 shares in the last quarter. Ninety One UK Ltd increased its stake in Light & Wonder by 128.0% in the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company's stock valued at $95,472,000 after acquiring an additional 511,081 shares during the period. Dimensional Fund Advisors LP raised its position in Light & Wonder by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 802,922 shares of the company's stock worth $84,215,000 after purchasing an additional 12,317 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Light & Wonder by 102.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company's stock worth $78,320,000 after buying an additional 388,781 shares during the period. Finally, Millennium Management LLC boosted its stake in Light & Wonder by 573.3% in the 2nd quarter. Millennium Management LLC now owns 579,340 shares of the company's stock valued at $60,761,000 after buying an additional 493,295 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group upgraded Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, September 25th. Truist Financial reduced their target price on Light & Wonder from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on Light & Wonder from $107.00 to $111.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. Craig Hallum upgraded Light & Wonder to a "strong-buy" rating in a report on Friday, October 4th. Finally, Maxim Group assumed coverage on Light & Wonder in a report on Monday, August 26th. They issued a "buy" rating and a $144.00 price target for the company. 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 given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $107.36.

Light & Wonder Trading Down 10.0 %

Shares of NASDAQ:LNW traded down $10.22 during trading on Wednesday, hitting $92.28. 1,602,732 shares of the company's stock were exchanged, compared to its average volume of 710,693. The firm has a 50-day moving average price of $98.59 and a two-hundred day moving average price of $99.86. The company has a current ratio of 1.85, a quick ratio of 1.58 and a debt-to-equity ratio of 4.90. Light & Wonder, Inc. has a 1-year low of $76.52 and a 1-year high of $115.00. The firm has a market cap of $8.19 billion, a P/E ratio of 28.66, a PEG ratio of 0.43 and a beta of 1.75.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its quarterly 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 company had revenue of $817.00 million during the quarter, compared to analysts' expectations of $826.65 million. Light & Wonder had a return on equity of 50.89% and a net margin of 9.30%. Equities analysts predict that Light & Wonder, Inc. will post 4.41 earnings per share for the current year.

Light & Wonder announced that its board has initiated a stock buyback plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is 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.