Light & Wonder, Inc. (NASDAQ:LNW) Stake Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,953 shares of the company’s stock after selling 3,656 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Light & Wonder were worth $4,351,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Light & Wonder during the 3rd quarter worth $29,000. GAMMA Investing LLC grew its stake in shares of Light & Wonder by 59.6% in the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after purchasing an additional 152 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Light & Wonder during the third quarter valued at $108,000. Smith Anglin Financial LLC bought a new stake in shares of Light & Wonder during the second quarter valued at about $213,000. Finally, Centaurus Financial Inc. lifted its holdings in Light & Wonder by 67.7% in the second quarter. Centaurus Financial Inc. now owns 3,167 shares of the company’s stock worth $332,000 after purchasing an additional 1,279 shares during the period. 88.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on LNW. Deutsche Bank Aktiengesellschaft raised their target price on shares of Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. UBS Group raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and set a $114.00 price target on shares of Light & Wonder in a research note on Thursday, August 8th. Stifel Nicolaus dropped their price objective on Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a research note on Wednesday, September 25th. 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 report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.36.

Light & Wonder Trading Up 2.1 %

Shares of NASDAQ LNW opened at $94.41 on Friday. The business has a fifty day simple moving average of $96.83 and a 200-day simple moving average of $99.87. The company has a market cap of $8.34 billion, a price-to-earnings ratio of 29.32, a P/E/G ratio of 0.50 and a beta of 1.75. Light & Wonder, Inc. has a 12 month low of $76.52 and a 12 month high of $115.00. 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 declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.