State Street Corp Sells 264,680 Shares of Las Vegas Sands Corp. (NYSE:LVS)

State Street Corp lessened its position in Las Vegas Sands Corp. (NYSE:LVS) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,938,808 shares of the casino operator’s stock after selling 264,680 shares during the quarter. State Street Corp owned 2.06% of Las Vegas Sands worth $752,020,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LVS. Janus Henderson Group PLC lifted its holdings in shares of Las Vegas Sands by 159.6% in the 3rd quarter. Janus Henderson Group PLC now owns 9,130,486 shares of the casino operator’s stock worth $459,630,000 after acquiring an additional 5,612,975 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Las Vegas Sands by 987.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,549,615 shares of the casino operator’s stock worth $245,570,000 after buying an additional 5,039,072 shares during the period. Bank of New York Mellon Corp increased its stake in Las Vegas Sands by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,351,573 shares of the casino operator’s stock worth $502,307,000 after buying an additional 1,536,754 shares during the period. Charles Lim Capital Ltd increased its stake in Las Vegas Sands by 178.3% in the 2nd quarter. Charles Lim Capital Ltd now owns 1,600,000 shares of the casino operator’s stock worth $70,800,000 after buying an additional 1,025,000 shares during the period. Finally, ARGA Investment Management LP increased its stake in Las Vegas Sands by 24.8% in the 3rd quarter. ARGA Investment Management LP now owns 4,924,340 shares of the casino operator’s stock worth $247,891,000 after buying an additional 977,636 shares during the period. Institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Stock Up 0.3 %

LVS stock opened at $53.99 on Monday. The firm has a 50 day moving average of $51.58 and a 200 day moving average of $45.29. The stock has a market capitalization of $39.14 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10. 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 Corp. has a 52 week low of $36.62 and a 52 week high of $55.65.

Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, October 23rd. The casino operator reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). Las Vegas Sands had a return on equity of 44.26% and a net margin of 13.29%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. Sell-side analysts forecast that Las Vegas Sands Corp. will post 2.33 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, November 5th. Las Vegas Sands’s payout ratio is 39.60%.

Insider Buying and Selling at Las Vegas Sands

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 60,187 shares of Las Vegas Sands stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $53.02, for a total transaction of $3,191,114.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert G. Goldstein sold 24,324 shares of Las Vegas Sands stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $52.00, for a total transaction of $1,264,848.00. Following the sale, the chief executive officer now owns 60,187 shares of the company’s stock, valued at approximately $3,129,724. The trade was a 28.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 203,732 shares of company stock worth $10,861,707. Company insiders own 0.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LVS shares. Mizuho raised their target price on shares of Las Vegas Sands from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Argus downgraded shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Susquehanna raised their target price on shares of Las Vegas Sands from $51.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. UBS Group raised their target price on shares of Las Vegas Sands from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus raised their target price on shares of Las Vegas Sands from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Las Vegas Sands presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Las Vegas Sands Company Profile

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.