Harvest Portfolios Group Inc. Has $3.69 Million Holdings in Las Vegas Sands Corp. (NYSE:LVS)

Harvest Portfolios Group Inc. trimmed its holdings in Las Vegas Sands Corp. (NYSE:LVS) by 7.6% in the third quarter, Holdings Channel reports. The institutional investor owned 73,327 shares of the casino operator’s stock after selling 6,032 shares during the period. Harvest Portfolios Group Inc.’s holdings in Las Vegas Sands were worth $3,691,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of LVS. Janney Montgomery Scott LLC raised its holdings in shares of Las Vegas Sands by 49.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,317 shares of the casino operator’s stock worth $1,102,000 after buying an additional 7,099 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Las Vegas Sands in the first quarter worth about $43,000. Daiwa Securities Group Inc. boosted its stake in shares of Las Vegas Sands by 13.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 40,747 shares of the casino operator’s stock valued at $2,107,000 after purchasing an additional 4,762 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of Las Vegas Sands by 4.2% during the 1st quarter. Empirical Finance LLC now owns 11,548 shares of the casino operator’s stock valued at $597,000 after purchasing an additional 461 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Las Vegas Sands by 14.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 9,820 shares of the casino operator’s stock worth $508,000 after purchasing an additional 1,211 shares in the last quarter. Institutional investors own 39.16% of the company’s stock.

Analyst Upgrades and Downgrades

LVS has been the subject of a number of research reports. Susquehanna increased their price target on Las Vegas Sands from $51.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Jefferies Financial Group dropped their target price on Las Vegas Sands from $53.00 to $47.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Mizuho boosted their price target on Las Vegas Sands from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Macquarie dropped their price objective on shares of Las Vegas Sands from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Finally, Morgan Stanley boosted their target price on shares of Las Vegas Sands from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Insider Activity at Las Vegas Sands

In related news, CEO Robert G. Goldstein sold 119,221 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $53.73, for a total value of $6,405,744.33. Following the completion of the transaction, the chief executive officer now directly owns 84,511 shares of the company’s stock, valued at approximately $4,540,776.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Las Vegas Sands Stock Down 0.8 %

LVS stock opened at $49.93 on Wednesday. The stock’s 50 day moving average is $47.03 and its 200-day moving average is $44.49. Las Vegas Sands Corp. has a twelve month low of $36.62 and a twelve month high of $55.65. The firm has a market capitalization of $36.20 billion, a PE ratio of 24.92, a P/E/G ratio of 1.35 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 3.09.

Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, October 23rd. The casino operator reported $0.44 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.09). The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Las Vegas Sands had a net margin of 13.29% and a return on equity of 44.26%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. Sell-side analysts expect that Las Vegas Sands Corp. will post 2.35 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.60%. Las Vegas Sands’s dividend payout ratio is presently 39.60%.

About Las Vegas Sands

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, 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 Marina Bay Sands in Singapore.