Board of Trustees of The Leland Stanford Junior University reduced its position in Light & Wonder, Inc. (NASDAQ:LNW – Free Report) by 57.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,220 shares of the company’s stock after selling 356,032 shares during the quarter. Light & Wonder makes up approximately 2.0% of Board of Trustees of The Leland Stanford Junior University’s portfolio, making the stock its 5th biggest position. Board of Trustees of The Leland Stanford Junior University’s holdings in Light & Wonder were worth $24,063,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Light & Wonder during the third quarter worth approximately $764,000. Commerce Bank increased its holdings in shares of Light & Wonder by 10.5% in the third quarter. Commerce Bank now owns 30,396 shares of the company’s stock valued at $2,758,000 after purchasing an additional 2,887 shares during the period. Quest Partners LLC acquired a new position in shares of Light & Wonder in the third quarter valued at approximately $337,000. Chesapeake Capital Corp IL increased its holdings in shares of Light & Wonder by 29.0% in the third quarter. Chesapeake Capital Corp IL now owns 4,411 shares of the company’s stock valued at $407,000 after purchasing an additional 991 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of Light & Wonder by 16.6% in the third quarter. Ashton Thomas Private Wealth LLC now owns 10,091 shares of the company’s stock valued at $916,000 after purchasing an additional 1,438 shares during the period. 88.08% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. B. Riley assumed coverage on Light & Wonder in a report on Tuesday, October 8th. They set a “buy” rating and a $120.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their target price on Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Susquehanna lowered their target price on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. UBS Group raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. Finally, Craig Hallum raised Light & Wonder to a “strong-buy” rating in a report on Friday, October 4th. 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $107.36.
Light & Wonder Stock Performance
Shares of Light & Wonder stock opened at $92.48 on Thursday. The stock has a market cap of $8.17 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 0.50 and a beta of 1.75. The business has a fifty day simple moving average of $97.15 and a 200-day simple moving average of $99.91. 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 12 month low of $76.52 and a 12 month high of $115.00.
Light & Wonder announced that its Board of Directors has authorized a share repurchase program on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are 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.
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