Swiss National Bank Sells 700 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Swiss National Bank lessened its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 0.4% during the 3rd quarter, Holdings Channel reports. The fund owned 176,000 shares of the company’s stock after selling 700 shares during the period. Swiss National Bank’s holdings in Light & Wonder were worth $15,968,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Light & Wonder during the 3rd quarter valued at $29,000. GAMMA Investing LLC boosted its position in Light & Wonder by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after acquiring an additional 152 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Light & Wonder during the 3rd quarter valued at $108,000. Smith Anglin Financial LLC bought a new stake in Light & Wonder during the 2nd quarter valued at $213,000. Finally, Centaurus Financial Inc. boosted its position in Light & Wonder by 67.7% during the 2nd quarter. Centaurus Financial Inc. now owns 3,167 shares of the company’s stock valued at $332,000 after acquiring an additional 1,279 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Performance

Shares of LNW stock opened at $96.42 on Friday. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 0.50 and a beta of 1.75. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. The business has a fifty day moving average of $96.53 and a 200 day moving average of $99.88. Light & Wonder, Inc. has a 1 year low of $76.52 and a 1 year high of $115.00.

Light & Wonder declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

LNW has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. 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 report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. B. Riley began coverage on Light & Wonder in a research report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 price objective for the company. Finally, Maxim Group began coverage on Light & Wonder in a research report on Monday, August 26th. They issued a “buy” rating and a $144.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Light & Wonder presently has an average rating of “Moderate Buy” and a consensus target price 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.