Principal Financial Group Inc. Reduces Position in Light & Wonder, Inc. (NASDAQ:LNW)

Principal Financial Group Inc. trimmed its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 31.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,504 shares of the company’s stock after selling 93,819 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Light & Wonder worth $18,827,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC lifted its position in Light & Wonder by 573.3% during the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after buying an additional 493,295 shares in the last quarter. FMR LLC raised its holdings in shares of Light & Wonder by 28.7% during the 3rd quarter. FMR LLC now owns 1,452,052 shares of the company’s stock worth $131,745,000 after acquiring an additional 324,088 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Light & Wonder during the 3rd quarter worth $25,277,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Light & Wonder in the second quarter valued at about $23,597,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Light & Wonder during the 2nd quarter valued at approximately $15,539,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Truist Financial dropped their price target on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Susquehanna lowered their price target on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Stifel Nicolaus dropped their price objective on Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a research note on Wednesday, September 25th. UBS Group upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. Finally, B. Riley assumed coverage on shares of Light & Wonder in a research note on Tuesday, October 8th. They set a “buy” rating and a $120.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.36.

Light & Wonder Stock Performance

Shares of LNW stock opened at $87.09 on Friday. Light & Wonder, Inc. has a 12 month low of $76.52 and a 12 month 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 company has a market cap of $7.69 billion, a P/E ratio of 27.05, a PEG ratio of 0.55 and a beta of 1.71. The firm has a fifty day moving average price of $94.16 and a 200 day moving average price of $99.50.

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.