Allstate Corp Acquires Shares of 12,509 Las Vegas Sands Corp. $LVS

Allstate Corp bought a new position in Las Vegas Sands Corp. (NYSE:LVS) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 12,509 shares of the casino operator’s stock, valued at approximately $673,000.

Other large investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Las Vegas Sands by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,251 shares of the casino operator’s stock worth $1,207,000 after purchasing an additional 2,418 shares in the last quarter. Woodline Partners LP raised its holdings in Las Vegas Sands by 38.9% in the first quarter. Woodline Partners LP now owns 29,032 shares of the casino operator’s stock worth $1,122,000 after buying an additional 8,132 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Las Vegas Sands by 27.4% in the second quarter. Parallel Advisors LLC now owns 2,272 shares of the casino operator’s stock worth $99,000 after buying an additional 488 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Las Vegas Sands by 79.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,214 shares of the casino operator’s stock worth $1,505,000 after buying an additional 13,860 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Las Vegas Sands during the second quarter valued at approximately $520,000. Institutional investors own 39.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating and issued a $78.00 price objective on shares of Las Vegas Sands in a report on Wednesday, December 24th. Citigroup boosted their price target on Las Vegas Sands from $75.50 to $76.75 and gave the stock a “buy” rating in a research note on Thursday, December 11th. UBS Group upped their price target on Las Vegas Sands from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, December 8th. Morgan Stanley increased their price objective on Las Vegas Sands from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, January 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Las Vegas Sands in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.05.

Insiders Place Their Bets

In other news, major shareholder Miriam Adelson sold 77,991 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $67.56, for a total value of $5,269,071.96. Following the transaction, the insider owned 23,333,441 shares of the company’s stock, valued at $1,576,407,273.96. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Patrick Dumont sold 135,603 shares of Las Vegas Sands stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $67.96, for a total value of $9,215,579.88. Following the transaction, the chief operating officer directly owned 446,608 shares in the company, valued at approximately $30,351,479.68. The trade was a 23.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,182,053 shares of company stock worth $333,348,399 over the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Las Vegas Sands Trading Up 0.4%

Shares of Las Vegas Sands stock opened at $59.86 on Friday. Las Vegas Sands Corp. has a 1-year low of $30.18 and a 1-year high of $70.45. The company’s fifty day simple moving average is $64.64 and its 200-day simple moving average is $57.71. The company has a debt-to-equity ratio of 7.42, a current ratio of 0.89 and a quick ratio of 0.88. The stock has a market capitalization of $40.47 billion, a PE ratio of 27.09, a P/E/G ratio of 1.45 and a beta of 0.97.

Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, October 22nd. The casino operator reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.16. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Las Vegas Sands had a return on equity of 73.14% and a net margin of 12.69%.Las Vegas Sands’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. As a group, equities analysts anticipate that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands Company Profile

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.