Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 41.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,844 shares of the company’s stock after selling 14,593 shares during the period. Thrivent Financial for Lutherans’ holdings in Light & Wonder were worth $1,891,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Chesapeake Capital Corp IL raised its holdings in Light & Wonder by 29.0% in the 3rd quarter. Chesapeake Capital Corp IL now owns 4,411 shares of the company’s stock valued at $407,000 after acquiring an additional 991 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of Light & Wonder by 16.6% during the third quarter. Ashton Thomas Private Wealth LLC now owns 10,091 shares of the company’s stock valued at $916,000 after purchasing an additional 1,438 shares during the last quarter. GSA Capital Partners LLP bought a new position in Light & Wonder in the 3rd quarter valued at $725,000. Entropy Technologies LP bought a new position in Light & Wonder in the third quarter valued at about $363,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Light & Wonder during the 3rd quarter worth approximately $899,000. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Trading Down 0.9 %

Shares of LNW stock opened at $97.08 on Friday. The stock has a market cap of $8.57 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 0.59 and a beta of 1.75. Light & Wonder, Inc. has a 1 year low of $76.52 and a 1 year high of $115.00. The company has a current ratio of 1.88, a quick ratio of 1.61 and a debt-to-equity ratio of 4.49. The stock has a 50 day simple moving average of $95.69 and a 200 day simple moving average of $99.99.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on LNW. Macquarie lowered their price target on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Craig Hallum upgraded Light & Wonder to a “strong-buy” rating in a report on Friday, October 4th. 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 report on Wednesday, September 25th. B. Riley assumed coverage on Light & Wonder in a research note on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. One equities research 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. Based on data from MarketBeat.com, the stock has a consensus 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.