Sei Investments Co. Sells 11,693 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Sei Investments Co. lowered its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 30.1% during the second quarter, Holdings Channel.com reports. The firm owned 27,114 shares of the company’s stock after selling 11,693 shares during the quarter. Sei Investments Co.’s holdings in Light & Wonder were worth $2,844,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LNW. SG Americas Securities LLC grew its position in shares of Light & Wonder by 121.6% in the 2nd quarter. SG Americas Securities LLC now owns 14,263 shares of the company’s stock worth $1,496,000 after buying an additional 7,828 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Light & Wonder during the second quarter valued at approximately $1,620,000. M&G Plc acquired a new stake in Light & Wonder in the first quarter valued at approximately $10,570,000. Cibc World Markets Corp purchased a new position in Light & Wonder in the fourth quarter worth $5,748,000. Finally, Virtu Financial LLC acquired a new position in shares of Light & Wonder during the fourth quarter worth $807,000. 88.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LNW has been the topic of several research analyst reports. Maxim Group started coverage on Light & Wonder in a research note on Monday, August 26th. They set a “buy” rating and a $144.00 target price on the stock. Truist Financial increased their price objective on shares of Light & Wonder from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. UBS Group raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and issued a $114.00 price target on shares of Light & Wonder in a report on Thursday, August 8th. Finally, Macquarie lowered their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $106.60.

Light & Wonder Stock Up 2.0 %

Shares of LNW opened at $89.46 on Friday. The stock’s 50-day moving average price is $104.34 and its 200-day moving average price is $100.30. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 37.12, a PEG ratio of 0.39 and a beta of 1.76. Light & Wonder, Inc. has a 52 week low of $67.71 and a 52 week high of $115.00.

Light & Wonder (NASDAQ:LNW) last posted its earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.14). Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The firm had revenue of $818.00 million for the quarter, compared to analysts’ expectations of $798.09 million. During the same period last year, the firm earned $1.02 earnings per share. Light & Wonder’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts predict that Light & Wonder, Inc. will post 4.44 EPS for the current year.

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

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.