Principal Financial Group Inc. Has $21.37 Million Stock Holdings in Light & Wonder, Inc. (NASDAQ:LNW)

Principal Financial Group Inc. lessened its position in Light & Wonder, Inc. (NASDAQ:LNW – Get Rating) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 364,586 shares of the company’s stock after selling 2,498 shares during the period. Principal Financial Group Inc.’s holdings in Light & Wonder were worth $21,365,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Light & Wonder during the 3rd quarter worth about $443,927,000. Vanguard Group Inc. acquired a new position in Light & Wonder during the 3rd quarter valued at about $389,375,000. State Street Corp acquired a new position in Light & Wonder during the 3rd quarter valued at about $128,003,000. Harvard Management Co. Inc. acquired a new position in Light & Wonder during the 3rd quarter valued at about $114,857,000. Finally, Stone House Capital Management LLC acquired a new position in Light & Wonder during the 3rd quarter valued at about $104,627,000. Institutional investors and hedge funds own 96.42% of the company’s stock.

Light & Wonder Price Performance

Shares of LNW opened at $62.63 on Monday. The stock has a market capitalization of $5.71 billion, a P/E ratio of 1.62 and a beta of 1.78. The company has a quick ratio of 2.48, a current ratio of 2.74 and a debt-to-equity ratio of 3.27. Light & Wonder, Inc. has a twelve month low of $40.10 and a twelve month high of $68.55. The company has a 50 day moving average of $59.49 and a 200-day moving average of $61.25.

Light & Wonder (NASDAQ:LNW – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $670.00 million during the quarter, compared to the consensus estimate of $632.14 million. Light & Wonder had a return on equity of 3.52% and a net margin of 140.65%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.72) EPS. As a group, equities research analysts forecast that Light & Wonder, Inc. will post 1.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LNW. Credit Suisse Group lowered their price target on Light & Wonder from $48.00 to $46.00 and set an “underperform” rating for the company in a research note on Thursday, March 2nd. Stifel Nicolaus upped their price target on Light & Wonder from $62.00 to $63.00 in a research note on Wednesday, May 10th. Susquehanna raised Light & Wonder from a “neutral” rating to a “positive” rating and set a $70.00 target price for the company in a research note on Thursday, May 11th. Craig Hallum increased their target price on Light & Wonder from $85.00 to $90.00 in a research note on Thursday, March 2nd. Finally, B. Riley assumed coverage on Light & Wonder in a research note on Thursday, April 20th. They set a “neutral” rating and a $57.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $64.22.

Insider Activity

In other Light & Wonder news, major shareholder Fine Capital Partners, L.P. sold 65,000 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $64.07, for a total transaction of $4,164,550.00. Following the completion of the sale, the insider now owns 9,079,617 shares of the company’s stock, valued at approximately $581,731,061.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by insiders.

About Light & Wonder

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Light & Wonder, Inc engages in the development of technology-based products and services and associated content. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment designs, develops, manufactures, markets, and distributes a comprehensive portfolio of gaming products and services.