NEXT Financial Group Inc decreased its position in Las Vegas Sands Corp. (NYSE:LVS) by 28.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,174 shares of the casino operator’s stock after selling 9,543 shares during the period. NEXT Financial Group Inc’s holdings in Las Vegas Sands were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC lifted its stake in Las Vegas Sands by 2,233.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,431,354 shares of the casino operator’s stock worth $143,669,000 after purchasing an additional 2,327,154 shares in the last quarter. Alpine Group USVI LLC purchased a new stake in shares of Las Vegas Sands during the 3rd quarter valued at approximately $119,680,000. Nuveen Asset Management LLC purchased a new stake in shares of Las Vegas Sands during the 2nd quarter valued at approximately $117,535,000. Boston Partners increased its holdings in Las Vegas Sands by 16.5% in the 2nd quarter. Boston Partners now owns 6,063,064 shares of the casino operator’s stock valued at $358,510,000 after purchasing an additional 858,697 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Las Vegas Sands by 3.7% during the second quarter. BlackRock Inc. now owns 18,516,990 shares of the casino operator’s stock worth $1,094,168,000 after purchasing an additional 664,769 shares in the last quarter. Institutional investors own 36.94% of the company’s stock.
LVS traded up $0.27 on Friday, reaching $64.08. The company had a trading volume of 2,183,362 shares, compared to its average volume of 4,306,754. The stock has a 50-day moving average price of $58.59 and a 200-day moving average price of $59.26. Las Vegas Sands Corp. has a 1 year low of $47.39 and a 1 year high of $69.60. The company has a quick ratio of 1.59, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $49.01 billion, a PE ratio of 19.30, a P/E/G ratio of 5.93 and a beta of 1.61.
Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, October 23rd. The casino operator reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. Las Vegas Sands had a net margin of 13.86% and a return on equity of 37.04%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The business’s revenue was down 3.6% compared to the same quarter last year. As a group, analysts expect that Las Vegas Sands Corp. will post 3.15 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, December 17th will be issued a $0.77 dividend. The ex-dividend date is Monday, December 16th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.81%. Las Vegas Sands’s payout ratio is 92.77%.
In related news, General Counsel Kathleen Bender Patton sold 2,008 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $35.60, for a total transaction of $71,484.80. Also, EVP Lawrence A. Jacobs sold 66,667 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $60.16, for a total transaction of $4,010,686.72. Following the transaction, the executive vice president now directly owns 66,667 shares of the company’s stock, valued at $4,010,686.72. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by corporate insiders.
A number of equities analysts recently commented on the stock. Roth Capital reiterated a “buy” rating on shares of Las Vegas Sands in a research note on Thursday, October 24th. Deutsche Bank upgraded shares of Las Vegas Sands from a “hold” rating to a “buy” rating and boosted their target price for the stock from $69.00 to $70.00 in a research note on Sunday, September 8th. Morgan Stanley lowered their target price on shares of Las Vegas Sands from $68.00 to $66.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. UBS Group lowered their target price on shares of Las Vegas Sands from $63.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Las Vegas Sands from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $68.22.
About Las Vegas Sands
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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