Grimes & Company Inc. increased its stake in Las Vegas Sands Corp. (NYSE:LVS) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,373 shares of the casino operator’s stock after purchasing an additional 3,236 shares during the quarter. Grimes & Company Inc.’s holdings in Las Vegas Sands were worth $6,144,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of LVS. Manchester Financial Inc. purchased a new position in Las Vegas Sands in the 2nd quarter worth about $26,000. Venturi Wealth Management LLC purchased a new position in Las Vegas Sands in the 3rd quarter worth about $27,000. Manchester Capital Management LLC increased its stake in Las Vegas Sands by 164.8% in the 2nd quarter. Manchester Capital Management LLC now owns 482 shares of the casino operator’s stock worth $28,000 after purchasing an additional 300 shares in the last quarter. Lenox Wealth Advisors LLC increased its stake in Las Vegas Sands by 247.1% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 486 shares of the casino operator’s stock worth $28,000 after purchasing an additional 346 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Las Vegas Sands by 195.6% in the 3rd quarter. Allworth Financial LP now owns 538 shares of the casino operator’s stock worth $31,000 after purchasing an additional 356 shares in the last quarter. 36.94% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on LVS shares. Argus cut Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. ValuEngine cut Las Vegas Sands from a “hold” rating to a “sell” rating in a research note on Friday. Roth Capital reissued a “buy” rating on shares of Las Vegas Sands in a research note on Thursday, October 24th. Standpoint Research started coverage on Las Vegas Sands in a research note on Wednesday, September 4th. They issued a “buy” rating on the stock. Finally, Credit Suisse Group reissued a “hold” rating and issued a $62.00 price target on shares of Las Vegas Sands in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Las Vegas Sands has a consensus rating of “Hold” and a consensus target price of $68.22.
NYSE LVS traded down $0.86 during trading on Monday, reaching $63.22. 178,064 shares of the company’s stock were exchanged, compared to its average volume of 4,306,754. Las Vegas Sands Corp. has a fifty-two week low of $47.39 and a fifty-two week high of $69.60. The firm has a market capitalization of $49.01 billion, a PE ratio of 19.02, a P/E/G ratio of 5.93 and a beta of 1.61. The company has a current ratio of 1.60, a quick ratio of 1.59 and a debt-to-equity ratio of 1.82. The company’s fifty day simple moving average is $58.59 and its 200-day simple moving average is $59.26.
Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, October 23rd. The casino operator reported $0.75 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.75. Las Vegas Sands had a return on equity of 37.04% and a net margin of 13.86%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.30 billion. During the same period last year, the company posted $0.77 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts forecast that Las Vegas Sands Corp. will post 3.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.08 dividend on an annualized basis and a yield of 4.87%. Las Vegas Sands’s payout ratio is presently 92.77%.
In other news, EVP Lawrence A. Jacobs sold 66,667 shares of Las Vegas Sands 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 completion of the sale, the executive vice president now directly owns 66,667 shares in the company, valued at approximately $4,010,686.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Kathleen Bender Patton sold 2,008 shares of Las Vegas Sands stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $35.60, for a total value of $71,484.80. 10.50% of the stock is owned by insiders.
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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