Amalgamated Bank lowers stake in Light & Wonder, Inc. (NASDAQ:LNW)

Amalgamated Bank reduced its holdings in Light & Wonder, Inc. (NASDAQ:LNW – Free Report) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,722 shares of the company’s stock after selling 486 shares during the period. Amalgamated Bank’s holdings in Light & Wonder were worth $4,900,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of LNW. Burgundy Asset Management Ltd. boosted its position in Light & Wonder by 1.2% in the first quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company’s stock worth $134,307,000 after buying an additional 15,902 shares in the last quarter. Ninety One UK Ltd boosted its holdings in shares of Light & Wonder by 128.0% in the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after buying an additional 511,081 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Light & Wonder by 95.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock valued at $73,601,000 after buying an additional 438,443 shares during the period. Dimensional Fund Advisors LP boosted its holdings in 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Light & Wonder by 102.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock worth $78,320,000 after acquiring an additional 388,781 shares during the period. 88.08% of shares are owned by institutional investors.

Stock Light & Wonder 0.1%

Shares of LNW stock opened at $112.57 on Friday. Light & Wonder, Inc. has a 12-month low of $67.71 and a 12-month high of $115.00. The firm has a market cap of $10.15 billion, a PE ratio of 46.71, a PEG ratio of 0.46 and a beta of 1.77. 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 stock has a 50-day simple moving average of $106.04 and a two-hundred-day simple moving average of $100.72.

Light & Wonder (NASDAQ:LNW – Get Free Report ) last issued its quarterly earnings data 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 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 in the previous year, the firm posted EPS of $1.02. Light & Wonder revenue was up 11.9% year-on-year. On average, equities analysts predict that Light & Wonder, Inc. will post 4.44 EPS for the current fiscal year.

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

Analysts on Wall Street are forecasting an increase

A number of research analysts recently weighed in on LNW shares. JPMorgan Chase & Co. boosted their target price on shares of Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Maxim Group began coverage on Light & Wonder in a report on Monday, August 26th. They set a “buy” rating and a $144.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Truist Financial upped their target price on Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Benchmark restated a “buy” rating and issued a $114.00 price objective on shares of Light & Wonder in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Light & Wonder has a consensus rating of “Hold” and a consensus price target of $108.20, based on data from MarketBeat.

Get the latest stock analysis on Light & Wonder

About Light & Wonder

(Free Report)

Light & Wonder, Inc operates as a multi-platform gaming company in the United States and internationally. The company operates through three segments: Gaming, SciPlay and iGaming segments. The Gaming segment sells gaming content and gaming machines; video game 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 field table gaming equipment.

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