Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in Light & Wonder, Inc. (NASDAQ:LNW) by 31.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,959 shares of the company’s stock after selling 129,937 shares during the period. JPMorgan Chase & Co. owned 0.32% of Light & Wonder worth $25,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Millennium Management LLC boosted its stake in Light & Wonder by 573.3% in the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock valued at $60,761,000 after acquiring an additional 493,295 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Light & Wonder during the 2nd quarter worth approximately $23,597,000. Intech Investment Management LLC acquired a new position in Light & Wonder during the second quarter worth approximately $1,620,000. Thrivent Financial for Lutherans lifted its stake in Light & Wonder by 57.0% in the second quarter. Thrivent Financial for Lutherans now owns 35,437 shares of the company’s stock valued at $3,716,000 after buying an additional 12,871 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Light & Wonder in the second quarter valued at approximately $1,470,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LNW. Truist Financial cut their target price on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Susquehanna decreased their target price on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. B. Riley began coverage on Light & Wonder in a research report on Tuesday, October 8th. They set a “buy” rating and a $120.00 price objective for the company. Stifel Nicolaus dropped their target price on Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a report on Wednesday, September 25th. Finally, Macquarie decreased 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $107.36.

Light & Wonder Stock Down 0.5 %

LNW stock opened at $85.63 on Wednesday. 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 company’s 50-day moving average price is $92.87 and its 200 day moving average price is $98.95. Light & Wonder, Inc. has a 52 week low of $76.52 and a 52 week high of $115.00. The company has a market cap of $7.56 billion, a P/E ratio of 26.59, a P/E/G ratio of 0.55 and a beta of 1.73.

About Light & Wonder

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.