Board of Trustees of The Leland Stanford Junior University Sells 356,032 Shares of Light & Wonder, Inc. (NASDAQ:LNW)

Board of Trustees of The Leland Stanford Junior University lowered its stake in shares of Light & Wonder, Inc. (NASDAQ:LNW) by 57.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,220 shares of the company’s stock after selling 356,032 shares during the quarter. Light & Wonder comprises approximately 2.0% of Board of Trustees of The Leland Stanford Junior University’s investment portfolio, making the stock its 5th largest holding. Board of Trustees of The Leland Stanford Junior University owned about 0.30% of Light & Wonder worth $24,063,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Light & Wonder in the 3rd quarter worth approximately $29,000. GAMMA Investing LLC grew its stake in shares of Light & Wonder by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after purchasing an additional 152 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Light & Wonder during the 3rd quarter worth approximately $108,000. Smith Anglin Financial LLC acquired a new stake in shares of Light & Wonder during the 2nd quarter worth approximately $213,000. Finally, Centaurus Financial Inc. grew its stake in shares of Light & Wonder by 67.7% during 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 during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

Light & Wonder Trading Up 1.2 %

Shares of LNW stock opened at $92.48 on Thursday. Light & Wonder, Inc. has a fifty-two week low of $76.52 and a fifty-two week high of $115.00. 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’s fifty day moving average is $97.15 and its two-hundred day moving average is $99.91. The firm has a market capitalization of $8.17 billion, a P/E ratio of 28.72, a PEG ratio of 0.50 and a beta of 1.75.

Light & Wonder announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 10.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LNW. B. Riley began coverage on shares of Light & Wonder in a research note on Tuesday, October 8th. They set a “buy” rating and a $120.00 price objective on the stock. UBS Group raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 25th. Macquarie decreased their target price on Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Susquehanna decreased their target price on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. increased their target price on Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.