Loomis Sayles & Co. L P Lowers Stock Position in Light & Wonder, Inc. (NASDAQ:LNW)

Loomis Sayles & Co. L P trimmed its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 376,189 shares of the company’s stock after selling 478 shares during the period. Loomis Sayles & Co. L P’s holdings in Light & Wonder were worth $34,132,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ninety One UK Ltd lifted its stake in shares of 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 purchasing an additional 511,081 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Light & Wonder by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 802,922 shares of the company’s stock valued at $84,215,000 after acquiring an additional 12,317 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Light & Wonder by 102.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock worth $78,320,000 after acquiring an additional 388,781 shares during the period. Millennium Management LLC increased 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 purchasing an additional 493,295 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in Light & Wonder by 6.2% during the third quarter. Wedge Capital Management L L P NC now owns 434,206 shares of the company’s stock worth $39,396,000 after purchasing an additional 25,284 shares during the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Trading Up 2.1 %

Shares of Light & Wonder stock opened at $98.45 on Tuesday. The firm has a market cap of $8.69 billion, a PE ratio of 30.57, a P/E/G ratio of 0.58 and a beta of 1.75. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. Light & Wonder, Inc. has a fifty-two week low of $76.52 and a fifty-two week high of $115.00. The business’s fifty day moving average is $96.28 and its two-hundred day moving average is $99.97.

Light & Wonder announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have weighed in on LNW shares. Macquarie lowered their target price on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Maxim Group initiated coverage on shares of Light & Wonder in a report on Monday, August 26th. They set a “buy” rating and a $144.00 target price for the company. B. Riley assumed coverage on shares of Light & Wonder in a report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 price target on the stock. Susquehanna lowered their price target on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, Truist Financial cut their price objective 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.