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

Principal Financial Group Inc. decreased its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 31.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 207,504 shares of the company’s stock after selling 93,819 shares during the quarter. Principal Financial Group Inc.’s holdings in Light & Wonder were worth $18,827,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC purchased a new stake in Light & Wonder in the 3rd quarter valued at $28,000. Capital Performance Advisors LLP acquired a new position in Light & Wonder in the third quarter valued at $29,000. Quarry LP purchased a new stake in shares of Light & Wonder in the third quarter valued at about $51,000. GAMMA Investing LLC boosted its stake in shares of Light & Wonder by 120.1% during the third quarter. GAMMA Investing LLC now owns 896 shares of the company’s stock worth $81,000 after buying an additional 489 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of Light & Wonder during the third quarter worth about $104,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

Light & Wonder Price Performance

Shares of NASDAQ:LNW opened at $87.09 on Friday. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 0.55 and a beta of 1.71. 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’s 50 day simple moving average is $94.16 and its 200-day simple moving average is $99.50. Light & Wonder, Inc. has a 12 month low of $76.52 and a 12 month high of $115.00.

Analysts Set New Price Targets

LNW has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price objective on Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a research report on Wednesday, September 25th. UBS Group raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. Susquehanna dropped their price objective on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. B. Riley began coverage on shares of Light & Wonder in a research note on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price for the company. Finally, Craig Hallum upgraded shares of Light & Wonder to a “strong-buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.36.

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.