Victory Capital Management Inc. Sells 1,543 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Victory Capital Management Inc. cut its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,622 shares of the company’s stock after selling 1,543 shares during the period. Victory Capital Management Inc.’s holdings in Light & Wonder were worth $1,599,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its stake in shares of Light & Wonder by 5.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,321 shares of the company’s stock valued at $441,000 after purchasing an additional 242 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Light & Wonder during the 1st quarter valued at $799,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Light & Wonder by 102.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock valued at $78,320,000 after acquiring an additional 388,781 shares during the period. Comerica Bank raised its position in shares of Light & Wonder by 85.1% in the 1st quarter. Comerica Bank now owns 47,874 shares of the company’s stock worth $4,887,000 after acquiring an additional 22,017 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Light & Wonder by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after purchasing an additional 152 shares during the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LNW has been the topic of several analyst reports. Maxim Group assumed coverage on Light & Wonder in a research note on Monday, August 26th. They issued a “buy” rating and a $144.00 target price on the stock. UBS Group upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their target price on shares of Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Susquehanna cut their price target on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Finally, Benchmark reiterated a “buy” rating and set a $114.00 price objective on shares of Light & Wonder in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.36.

Light & Wonder Stock Up 2.1 %

Light & Wonder stock opened at $98.45 on Tuesday. Light & Wonder, Inc. has a fifty-two week low of $76.52 and a fifty-two week high of $115.00. The company has a market cap of $8.69 billion, a PE ratio of 30.57, a PEG ratio of 0.58 and a beta of 1.75. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The business’s 50-day simple moving average is $96.28 and its two-hundred day simple moving average is $99.97.

Light & Wonder announced that its board has approved a stock repurchase plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are 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.