Amalgamated Bank Sells 486 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Amalgamated Bank trimmed its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,722 shares of the company’s stock after selling 486 shares during the quarter. Amalgamated Bank owned 0.05% of Light & Wonder worth $4,900,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its stake in shares of Light & Wonder by 44.1% in the fourth quarter. Quadrant Capital Group LLC now owns 869 shares of the company’s stock valued at $71,000 after buying an additional 266 shares during the period. UBS Group AG increased its position in 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 period. Franklin Resources Inc. bought a new position in Light & Wonder during the 4th quarter worth approximately $1,361,000. US Bancorp DE lifted its position in shares of Light & Wonder by 1,103.6% in the 4th 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 period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Light & Wonder by 1,626.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 8,807 shares of the company’s stock valued at $723,000 after purchasing an additional 8,297 shares during the last quarter. 88.08% of the stock is owned by institutional investors.

Light & Wonder Stock Performance

Shares of LNW stock opened at $112.57 on Friday. Light & Wonder, Inc. has a 12 month low of $67.71 and a 12 month high of $115.00. The firm has a market capitalization of $10.15 billion, a PE ratio of 46.71, a price-to-earnings-growth ratio of 0.46 and a beta of 1.77. The firm has a fifty day simple moving average of $106.04 and a two-hundred day simple moving average of $100.72. 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 analysts’ consensus estimates of $1.04 by ($0.14). Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The company had revenue of $818.00 million for the quarter, compared to the consensus estimate of $798.09 million. During the same period in the prior year, the firm posted $1.02 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Analysts forecast that Light & Wonder, Inc. will post 4.44 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on LNW. Stifel Nicolaus lifted their target price on shares of Light & Wonder from $98.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Macquarie lifted their price objective on Light & Wonder from $120.00 to $122.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. 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. Finally, Maxim Group began coverage on Light & Wonder in a report on Monday, August 26th. They set a “buy” rating and a $144.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Light & Wonder has an average rating of “Hold” and a consensus price target of $108.20.

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.