Magnetar Financial LLC trimmed its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 72.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,034 shares of the casino operator’s stock after selling 39,091 shares during the quarter. Magnetar Financial LLC’s holdings in Las Vegas Sands were worth $965,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Csenge Advisory Group bought a new position in Las Vegas Sands during the third quarter valued at $504,000. ARGA Investment Management LP boosted its holdings in shares of Las Vegas Sands by 110.7% in the second quarter. ARGA Investment Management LP now owns 45,300 shares of the casino operator’s stock worth $2,894,000 after acquiring an additional 23,800 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Las Vegas Sands by 5.1% during the second quarter. Oppenheimer & Co. Inc. now owns 75,993 shares of the casino operator’s stock valued at $4,855,000 after buying an additional 3,664 shares during the period. Investec Asset Management LTD boosted its stake in Las Vegas Sands by 38.5% during the second quarter. Investec Asset Management LTD now owns 1,800,200 shares of the casino operator’s stock valued at $115,015,000 after buying an additional 500,619 shares during the period. Finally, Monetta Financial Services Inc. bought a new stake in Las Vegas Sands during the second quarter valued at $1,278,000. 37.47% of the stock is owned by institutional investors.
LVS has been the subject of several research analyst reports. Stifel Nicolaus reissued a “buy” rating on shares of Las Vegas Sands in a research note on Sunday, September 3rd. Zacks Investment Research raised Las Vegas Sands from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Friday, October 13th. Roth Capital initiated coverage on Las Vegas Sands in a research note on Wednesday, October 25th. They set a “buy” rating and a $69.00 price objective for the company. Morgan Stanley lifted their price objective on Las Vegas Sands from $63.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, October 26th. Finally, Deutsche Bank lifted their price objective on Las Vegas Sands from $54.00 to $57.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.77.
Las Vegas Sands Corp. (LVS) traded up $0.76 during midday trading on Monday, reaching $70.36. The company’s stock had a trading volume of 2,842,000 shares, compared to its average volume of 3,250,259. Las Vegas Sands Corp. has a twelve month low of $51.35 and a twelve month high of $70.84. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $55,620.00, a P/E ratio of 25.31 and a beta of 1.80.
Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, October 25th. The casino operator reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Las Vegas Sands had a return on equity of 31.11% and a net margin of 16.80%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. analysts expect that Las Vegas Sands Corp. will post 2.87 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, December 21st will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $2.92 dividend on an annualized basis and a yield of 4.15%. Las Vegas Sands’s payout ratio is 110.19%.
In other news, Director George Jamieson purchased 1,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were acquired at an average price of $66.96 per share, for a total transaction of $66,960.00. Following the completion of the transaction, the director now directly owns 6,488 shares of the company’s stock, valued at approximately $434,436.48. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 10.10% of the company’s stock.
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Las Vegas Sands Profile
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.
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