New York State Teachers Retirement System Acquires 719 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

New York State Teachers Retirement System raised its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,365 shares of the company’s stock after buying an additional 719 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Light & Wonder worth $7,654,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its stake in shares of Light & Wonder by 5.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 10,305 shares of the company’s stock valued at $934,000 after purchasing an additional 535 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Light & Wonder in the 3rd quarter valued at approximately $420,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Light & Wonder in the 3rd quarter valued at approximately $108,000. Keystone Wealth Services LLC purchased a new position in shares of Light & Wonder in the 3rd quarter valued at approximately $340,000. Finally, Wedge Capital Management L L P NC lifted its stake in shares of Light & Wonder by 6.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 434,206 shares of the company’s stock valued at $39,396,000 after purchasing an additional 25,284 shares during the period. 88.08% of the stock is currently owned by institutional investors.

Light & Wonder Stock Up 0.1 %

Light & Wonder stock opened at $94.36 on Tuesday. The firm has a market cap of $8.37 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 0.40 and a beta of 1.75. The stock has a fifty day simple moving average of $99.82 and a two-hundred day simple moving average of $99.51. Light & Wonder, Inc. has a 12 month low of $76.52 and a 12 month high of $115.00. The company has a current ratio of 1.85, a quick ratio of 1.58 and a debt-to-equity ratio of 4.90.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.14). Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The firm had revenue of $818.00 million during the quarter, compared to the consensus estimate of $798.09 million. During the same period in the previous year, the firm earned $1.02 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Equities analysts predict that Light & Wonder, Inc. will post 4.41 EPS for the current fiscal year.

Light & Wonder announced that its Board of Directors has approved a stock buyback program on Wednesday, August 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire 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 stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on LNW shares. Macquarie lowered their target price on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Truist Financial lowered their price objective on Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Benchmark reiterated a “buy” rating and set a $114.00 price objective on shares of Light & Wonder in a research note on Thursday, August 8th. Craig Hallum upgraded Light & Wonder to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Maxim Group began coverage on Light & Wonder in a research note on Monday, August 26th. They set a “buy” rating and a $144.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Light & Wonder presently has an average rating of “Moderate Buy” and a consensus price target of $107.36.

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.