Moody Aldrich Partners LLC Trims Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Moody Aldrich Partners LLC lowered its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 92.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,576 shares of the company’s stock after selling 72,729 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Light & Wonder were worth $506,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of LNW. Ashton Thomas Private Wealth LLC boosted its position in shares of Light & Wonder by 1.6% during the first quarter. Ashton Thomas Private Wealth LLC now owns 8,653 shares of the company’s stock worth $883,000 after acquiring an additional 133 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Light & Wonder by 59.6% during the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after purchasing an additional 152 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Light & Wonder by 2.2% in the second quarter. QRG Capital Management Inc. now owns 10,046 shares of the company’s stock worth $1,054,000 after purchasing an additional 218 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Light & Wonder by 5.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,321 shares of the company’s stock worth $441,000 after buying an additional 242 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in Light & Wonder by 0.3% during the first quarter. Retirement Systems of Alabama now owns 113,077 shares of the company’s stock valued at $11,544,000 after buying an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Price Performance

LNW opened at $93.43 on Friday. The business has a fifty day moving average of $101.73 and a 200 day moving average of $99.41. The stock has a market cap of $8.29 billion, a P/E ratio of 28.03, a PEG ratio of 0.39 and a beta of 1.76. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90. Light & Wonder, Inc. has a 52-week low of $72.06 and a 52-week high of $115.00.

Light & Wonder (NASDAQ:LNW) last issued its 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). The company had revenue of $818.00 million for the quarter, compared to analysts’ expectations of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.02 earnings per share. As a group, sell-side analysts anticipate that Light & Wonder, Inc. will post 4.44 EPS for the current year.

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

Wall Street Analysts Forecast Growth

LNW has been the subject of a number of research reports. Craig Hallum upgraded Light & Wonder to a “strong-buy” rating in a research report on Friday, October 4th. Truist Financial lowered their price objective on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday. 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 target price on the stock. Stifel Nicolaus lowered their price target on shares of Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a report on Wednesday, September 25th. Finally, Maxim Group initiated coverage on Light & Wonder in a research note on Monday, August 26th. They set a “buy” rating and a $144.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Light & Wonder has a consensus rating of “Moderate Buy” and a consensus price target of $107.36.

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.