Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 12.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 301,323 shares of the company’s stock after selling 41,387 shares during the quarter. Principal Financial Group Inc. owned 0.33% of Light & Wonder worth $31,603,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LNW. New York State Common Retirement Fund boosted its stake in Light & Wonder by 1.0% in the 4th quarter. New York State Common Retirement Fund now owns 36,550 shares of the company’s stock worth $3,001,000 after purchasing an additional 350 shares in the last quarter. Natixis Advisors L.P. grew its holdings in shares of Light & Wonder by 4.2% during the fourth quarter. Natixis Advisors L.P. now owns 15,135 shares of the company’s stock valued at $1,242,000 after buying an additional 610 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Light & Wonder by 128.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 19,015 shares of the company’s stock worth $1,561,000 after acquiring an additional 10,702 shares during the last quarter. USA Financial Formulas acquired a new stake in Light & Wonder during the 4th quarter worth about $62,000. Finally, Westpac Banking Corp acquired a new stake in Light & Wonder during the 4th quarter worth about $4,441,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LNW shares. Benchmark restated a “buy” rating and issued a $114.00 price objective on shares of Light & Wonder in a research note on Thursday, August 8th. Stifel Nicolaus lifted their price objective on shares of Light & Wonder from $98.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Maxim Group began coverage on shares of Light & Wonder in a report on Monday, August 26th. They issued a “buy” rating and a $144.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Finally, Mizuho cut their price target on Light & Wonder from $83.00 to $79.00 and set an “underperform” rating on the stock in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Light & Wonder presently has an average rating of “Hold” and a consensus target price of $106.36.

Light & Wonder Trading Up 1.2 %

LNW stock opened at $109.82 on Friday. Light & Wonder, Inc. has a 52-week low of $67.71 and a 52-week high of $110.57. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90. The firm has a market cap of $9.74 billion, a P/E ratio of 45.57, a PEG ratio of 0.45 and a beta of 1.79. The company’s 50-day simple moving average is $104.53 and its 200-day simple moving average is $99.09.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The business had revenue of $818.00 million for the quarter, compared to analysts’ expectations of $798.09 million. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.02 EPS. As a group, equities analysts forecast that Light & Wonder, Inc. will post 4.44 EPS for the current fiscal year.

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.