Light & Wonder, Inc. (NASDAQ:LNW) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its position in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,991 shares of the company’s stock after selling 1,660 shares during the quarter. MetLife Investment Management LLC owned 0.06% of Light & Wonder worth $4,536,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LNW. Capital Performance Advisors LLP acquired a new stake in Light & Wonder during the 3rd quarter worth about $29,000. GAMMA Investing LLC boosted its stake in shares of Light & Wonder by 59.6% in the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after buying an additional 152 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Light & Wonder during the third quarter worth about $108,000. Smith Anglin Financial LLC purchased a new position in Light & Wonder during the second quarter valued at approximately $213,000. Finally, Centaurus Financial Inc. boosted its position in Light & Wonder by 67.7% in the 2nd quarter. Centaurus Financial Inc. now owns 3,167 shares of the company’s stock worth $332,000 after purchasing an additional 1,279 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Light & Wonder Stock Down 2.1 %

NASDAQ LNW opened at $95.04 on Monday. The business has a fifty day moving average price of $95.03 and a 200 day moving average price of $100.04. 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 company has a market cap of $8.39 billion, a P/E ratio of 29.52, a P/E/G ratio of 0.57 and a beta of 1.75. Light & Wonder, Inc. has a one year low of $76.52 and a one year high of $115.00.

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

Analyst Ratings Changes

LNW has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price 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. UBS Group upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 25th. Truist Financial lowered their target price on shares of Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Finally, Benchmark reiterated a “buy” rating and set a $114.00 price target on shares of Light & Wonder in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Light & Wonder currently has an average rating of “Moderate Buy” and a consensus target price of $107.36.

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.