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

Principal Financial Group Inc. lessened its holdings in Light & Wonder, Inc. (NASDAQ:LNW - Free Report) by 31.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 207,504 shares of the company's stock after selling 93,819 shares during the period. Principal Financial Group Inc. owned 0.23% of Light & Wonder worth $18,827,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LNW. GAMMA Investing LLC raised its stake 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 purchasing an additional 152 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Light & Wonder in the third quarter valued at $108,000. Smith Anglin Financial LLC purchased a new stake in Light & Wonder during the second quarter valued at about $213,000. Cynosure Group LLC acquired a new stake in Light & Wonder during the first quarter worth about $310,000. Finally, Centaurus Financial Inc. raised its holdings 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 worth $332,000 after purchasing an additional 1,279 shares during the period. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Light & Wonder Trading Up 0.2 %

Shares of NASDAQ LNW traded up $0.14 during mid-day trading on Friday, hitting $93.24. 986,987 shares of the company traded hands, compared to its average volume of 712,801. The company has a quick ratio of 1.58, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a 1 year low of $76.52 and a 1 year high of $115.00. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 0.39 and a beta of 1.75. The business has a 50 day moving average of $98.06 and a two-hundred day moving average of $99.82.

Light & Wonder (NASDAQ:LNW - Get Free Report) last released its earnings results 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. The company had revenue of $817.00 million for the quarter, compared to analysts' expectations of $826.65 million. Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. On average, sell-side analysts anticipate 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 approved a stock repurchase program on Wednesday, August 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 10.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LNW. B. Riley assumed coverage on shares of Light & Wonder in a research note on Tuesday, October 8th. They issued a "buy" rating and a $120.00 target price on the stock. Truist Financial decreased their target price on Light & Wonder from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on Light & Wonder from $107.00 to $111.00 and gave the company an "overweight" rating in a research note on Thursday, August 8th. Macquarie reduced 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. Finally, UBS Group raised shares of Light & Wonder from a "neutral" rating to a "buy" rating 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 given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.36.

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.