M&G Plc Purchases 3,412 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

M&G Plc lifted its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,896 shares of the company’s stock after purchasing an additional 3,412 shares during the quarter. M&G Plc owned 0.14% of Light & Wonder worth $10,911,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LNW. Texas Permanent School Fund Corp lifted its holdings in Light & Wonder by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 78,808 shares of the company’s stock worth $8,046,000 after acquiring an additional 1,054 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Light & Wonder by 239.9% in the 1st quarter. SG Americas Securities LLC now owns 6,435 shares of the company’s stock valued at $657,000 after purchasing an additional 4,542 shares during the period. Lisanti Capital Growth LLC bought a new stake in Light & Wonder during the 1st quarter worth approximately $3,975,000. QRG Capital Management Inc. raised its holdings in Light & Wonder by 33.0% during the 1st quarter. QRG Capital Management Inc. now owns 9,828 shares of the company’s stock worth $1,003,000 after buying an additional 2,437 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Light & Wonder by 3.9% in the first quarter. Russell Investments Group Ltd. now owns 43,414 shares of the company’s stock valued at $4,432,000 after buying an additional 1,636 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Trading Up 2.4 %

Shares of Light & Wonder stock opened at $102.06 on Friday. The stock has a market cap of $9.06 billion, a P/E ratio of 30.74, a P/E/G ratio of 0.40 and a beta of 1.75. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90. Light & Wonder, Inc. has a 12-month low of $76.52 and a 12-month high of $115.00. The business’s 50 day moving average is $99.42 and its 200-day moving average is $99.57.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.14). The firm had revenue of $818.00 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company posted $1.02 earnings per share. Equities research analysts predict that Light & Wonder, Inc. will post 4.41 earnings per share for the current fiscal year.

Light & Wonder announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Susquehanna dropped their price objective 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. JPMorgan Chase & Co. lifted their price target on Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Stifel Nicolaus reduced their price objective on Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a research report on Wednesday, September 25th. B. Riley started coverage on Light & Wonder in a research report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Truist Financial cut their target price on Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. One 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $107.36.

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.