BB&T Securities LLC grew its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 39.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,779 shares of the casino operator’s stock after acquiring an additional 3,352 shares during the period. BB&T Securities LLC’s holdings in Las Vegas Sands were worth $660,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Manchester Financial Inc. bought a new position in Las Vegas Sands during the second quarter worth $26,000. Venturi Wealth Management LLC bought a new position in Las Vegas Sands during the third quarter worth $27,000. Manchester Capital Management LLC raised its stake in Las Vegas Sands by 164.8% during the second quarter. Manchester Capital Management LLC now owns 482 shares of the casino operator’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Lenox Wealth Advisors LLC raised its stake in Las Vegas Sands by 247.1% during the third quarter. Lenox Wealth Advisors LLC now owns 486 shares of the casino operator’s stock worth $28,000 after buying an additional 346 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Las Vegas Sands by 195.6% during the third quarter. Allworth Financial LP now owns 538 shares of the casino operator’s stock worth $31,000 after buying an additional 356 shares during the last quarter. 35.95% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Lawrence A. Jacobs sold 66,667 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $60.16, for a total value of $4,010,686.72. Following the sale, the executive vice president now owns 66,667 shares of the company’s stock, valued at $4,010,686.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Kathleen Bender Patton sold 2,008 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $35.60, for a total transaction of $71,484.80. 10.50% of the stock is owned by insiders.
Las Vegas Sands stock traded up $0.76 during midday trading on Wednesday, hitting $62.69. 2,285,696 shares of the stock were exchanged, compared to its average volume of 4,178,489. Las Vegas Sands Corp. has a 52-week low of $47.39 and a 52-week high of $69.60. The stock has a market capitalization of $48.19 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 5.84 and a beta of 1.61. The business’s 50-day moving average price is $61.64 and its 200-day moving average price is $58.78. The company has a quick ratio of 1.59, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.
Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, October 23rd. The casino operator reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.30 billion. Las Vegas Sands had a net margin of 13.86% and a return on equity of 37.04%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 earnings per share. On average, sell-side analysts predict that Las Vegas Sands Corp. will post 3.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, December 17th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Monday, December 16th. Las Vegas Sands’s payout ratio is 92.77%.
A number of equities analysts recently weighed in on LVS shares. JPMorgan Chase & Co. lowered their target price on shares of Las Vegas Sands from $68.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. ValuEngine downgraded shares of Las Vegas Sands from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. UBS Group decreased their price target 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. Morgan Stanley decreased their price target 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. Finally, Credit Suisse Group reaffirmed 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 analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Las Vegas Sands currently has a consensus rating of “Hold” and a consensus price target of $66.90.
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.
Further Reading: Percentage Decliners
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