Pendal Group Ltd lowered its position in Las Vegas Sands Corp. (NYSE:LVS) by 88.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,656 shares of the casino operator’s stock after selling 234,120 shares during the period. Pendal Group Ltd’s holdings in Las Vegas Sands were worth $1,759,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LVS. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Las Vegas Sands in the third quarter valued at approximately $126,000. Flagship Harbor Advisors LLC purchased a new stake in Las Vegas Sands in the second quarter valued at approximately $135,000. Legacy Financial Advisors Inc. purchased a new stake in Las Vegas Sands in the third quarter valued at approximately $156,000. Benjamin F. Edwards & Company Inc. boosted its position in Las Vegas Sands by 126.6% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,794 shares of the casino operator’s stock valued at $166,000 after buying an additional 1,561 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Las Vegas Sands in the third quarter valued at approximately $183,000. Hedge funds and other institutional investors own 38.70% of the company’s stock.
Shares of NYSE:LVS opened at $52.09 on Friday. Las Vegas Sands Corp. has a 12-month low of $49.28 and a 12-month high of $81.45. The company has a market capitalization of $44.33 billion, a price-to-earnings ratio of 17.13 and a beta of 1.59. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.93 and a quick ratio of 1.92.
Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, October 24th. The casino operator reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.04). Las Vegas Sands had a net margin of 27.71% and a return on equity of 34.18%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.41 billion. On average, sell-side analysts anticipate that Las Vegas Sands Corp. will post 3.4 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Tuesday, December 18th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date is Monday, December 17th. Las Vegas Sands’s payout ratio is presently 98.68%.
LVS has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on Las Vegas Sands from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, July 26th. Stifel Nicolaus dropped their target price on Las Vegas Sands from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, July 26th. Credit Suisse Group initiated coverage on Las Vegas Sands in a research report on Tuesday, August 14th. They issued a “neutral” rating and a $72.00 target price on the stock. ValuEngine downgraded Las Vegas Sands from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Finally, Zacks Investment Research downgraded Las Vegas Sands from a “hold” rating to a “sell” rating in a report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Las Vegas Sands currently has a consensus rating of “Hold” and an average target price of $73.50.
In other Las Vegas Sands news, EVP Lawrence A. Jacobs sold 66,667 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $60.95, for a total value of $4,063,353.65. Following the completion of the transaction, the executive vice president now directly owns 66,667 shares of the company’s stock, valued at $4,063,353.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.20% of the company’s stock.
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Las Vegas Sands Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and iconic Marina Bay Sands in Singapore.
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