Mutual of America Capital Management LLC Lowers Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Mutual of America Capital Management LLC reduced its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,609 shares of the company’s stock after selling 2,046 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Light & Wonder worth $5,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of Light & Wonder by 44.1% during the fourth quarter. Quadrant Capital Group LLC now owns 869 shares of the company’s stock worth $71,000 after acquiring an additional 266 shares during the last quarter. Norges Bank bought a new position in shares of Light & Wonder during the 4th quarter valued at about $124,523,000. UBS Group AG boosted its holdings in shares of Light & Wonder by 18.8% during the 4th quarter. UBS Group AG now owns 271,108 shares of the company’s stock valued at $22,261,000 after purchasing an additional 42,927 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Light & Wonder during the fourth quarter valued at about $1,361,000. Finally, US Bancorp DE increased its holdings in shares of Light & Wonder by 1,103.6% in the fourth quarter. US Bancorp DE now owns 9,954 shares of the company’s stock worth $817,000 after purchasing an additional 9,127 shares during the last quarter. Institutional investors own 88.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on LNW shares. Stifel Nicolaus lifted their price objective on Light & Wonder from $98.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Maxim Group started coverage on shares of Light & Wonder in a report on Monday, August 26th. They issued a “buy” rating and a $144.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Macquarie boosted their price objective on Light & Wonder from $120.00 to $122.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Truist Financial lifted their target price on Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Light & Wonder presently has a consensus rating of “Hold” and an average target price of $108.20.

Light & Wonder Trading Up 0.1 %

Shares of LNW stock opened at $112.57 on Friday. Light & Wonder, Inc. has a 1-year low of $67.71 and a 1-year high of $115.00. The company has a market cap of $10.15 billion, a price-to-earnings ratio of 46.71, a PEG ratio of 0.46 and a beta of 1.77. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.85 and a quick ratio of 1.58. The stock has a 50 day simple moving average of $105.95 and a 200-day simple moving average of $100.63.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 earnings per share 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 analyst estimates of $798.09 million. Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 earnings per share. On average, equities research analysts expect that Light & Wonder, Inc. will post 4.44 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 buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 10.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.