Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 64.6% during the third quarter, HoldingsChannel.com reports. The firm owned 33,156 shares of the company’s stock after selling 60,523 shares during the period. 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 hedge funds also recently made changes to their positions in LNW. Axxcess Wealth Management LLC acquired a new position in shares of Light & Wonder in the 3rd quarter valued at about $899,000. XY Capital Ltd raised its holdings in Light & Wonder by 200.2% in the third quarter. XY Capital Ltd now owns 35,170 shares of the company’s stock valued at $3,191,000 after buying an additional 23,456 shares during the period. Capital Performance Advisors LLP purchased a new stake in Light & Wonder during the third quarter worth approximately $29,000. M&G PLC raised its stake in shares of Light & Wonder by 2.9% in the 3rd quarter. M&G PLC now owns 119,896 shares of the company’s stock valued at $10,911,000 after acquiring an additional 3,412 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in shares of Light & Wonder by 6.0% during the 3rd quarter. QRG Capital Management Inc. now owns 10,646 shares of the company’s stock valued at $966,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Analysts Set New Price Targets

LNW has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Maxim Group began coverage on Light & Wonder in a report on Monday, August 26th. They set a “buy” rating and a $144.00 target price on the stock. Stifel Nicolaus decreased their price target on Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a report on Wednesday, September 25th. 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 objective for the company. 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 analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.36.

Light & Wonder Stock Down 1.0 %

LNW stock opened at $102.50 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.58 and a debt-to-equity ratio of 4.90. The firm has a 50 day simple moving average of $98.90 and a 200-day simple moving average of $99.91. The company has a market capitalization of $9.09 billion, a P/E ratio of 30.87, a PEG ratio of 0.44 and a beta of 1.75. Light & Wonder, Inc. has a twelve month low of $76.52 and a twelve month high of $115.00.

Light & Wonder announced that its board has authorized a stock buyback program on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.