First Trust Direct Indexing L.P. Sells 145 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

First Trust Direct Indexing L.P. reduced its holdings in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,470 shares of the company’s stock after selling 145 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Light & Wonder were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Burgundy Asset Management Ltd. increased its holdings in Light & Wonder by 1.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company’s stock worth $134,307,000 after acquiring an additional 15,902 shares during the period. Ninety One UK Ltd boosted its holdings in shares of Light & Wonder by 128.0% during the 2nd quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock valued at $95,472,000 after acquiring an additional 511,081 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Light & Wonder by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 802,922 shares of the company’s stock worth $84,215,000 after buying an additional 12,317 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Light & Wonder by 102.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock valued at $78,320,000 after purchasing an additional 388,781 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Light & Wonder by 573.3% during the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock valued at $60,761,000 after purchasing an additional 493,295 shares in the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. UBS Group upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Macquarie cut their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.36.

Light & Wonder Stock Up 0.5 %

NASDAQ LNW opened at $94.22 on Monday. Light & Wonder, Inc. has a 52 week low of $72.76 and a 52 week high of $115.00. 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 business’s fifty day simple moving average is $100.08 and its 200-day simple moving average is $99.46. The firm has a market cap of $8.36 billion, a PE ratio of 28.38, a P/E/G ratio of 0.40 and a beta of 1.75.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.14). Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The company had revenue of $818.00 million for the quarter, compared to analysts’ expectations of $798.09 million. During the same quarter in the prior year, the firm earned $1.02 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, equities analysts anticipate that Light & Wonder, Inc. will post 4.41 earnings per share for the current year.

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

Light & Wonder Company 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.