Perpetual Ltd Lowers Stock Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Perpetual Ltd lessened its holdings in Light & Wonder, Inc. (NASDAQ:LNW) by 45.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 260,011 shares of the company’s stock after selling 217,378 shares during the period. Perpetual Ltd’s holdings in Light & Wonder were worth $22,460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Light & Wonder by 1.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,559 shares of the company’s stock worth $1,775,000 after acquiring an additional 281 shares during the period. True Wealth Design LLC purchased a new position in Light & Wonder in the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new position in Light & Wonder in the 3rd quarter worth approximately $29,000. Mercer Global Advisors Inc. ADV boosted its stake in Light & Wonder by 6.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,320 shares of the company’s stock worth $685,000 after purchasing an additional 360 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Light & Wonder by 120.1% during the 3rd quarter. GAMMA Investing LLC now owns 896 shares of the company’s stock valued at $81,000 after buying an additional 489 shares in the last quarter. 88.08% of the stock is owned by institutional investors.

Light & Wonder Price Performance

Shares of Light & Wonder stock opened at $90.04 on Tuesday. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 0.31 and a beta of 1.73. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. The stock has a 50 day moving average price of $90.99 and a 200-day moving average price of $97.91. Light & Wonder, Inc. has a one year low of $79.22 and a one year high of $115.00.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LNW. Stifel Nicolaus lowered their target price on shares of Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a report on Wednesday, September 25th. Macquarie decreased their price target on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Craig Hallum upgraded Light & Wonder to a “strong-buy” rating in a research report on Friday, October 4th. Truist Financial decreased their target price on Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Susquehanna cut their price target on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.50.

About Light & Wonder

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.