Las Vegas Sands (NYSE:LVS) CEO Robert Goldstein Sells 400,000 Shares

Las Vegas Sands Corp. (NYSE:LVS) CEO Robert Goldstein sold 400,000 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $59.20, for a total value of $23,680,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Las Vegas Sands Stock Down 0.7%

Shares of NYSE:LVS opened at $61.30 on Wednesday. The company has a market capitalization of $41.45 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 1.62 and a beta of 1.01. The company has a debt-to-equity ratio of 7.42, a current ratio of 0.89 and a quick ratio of 1.21. The business’s 50-day moving average is $54.09 and its 200-day moving average is $48.37. Las Vegas Sands Corp. has a 1 year low of $30.18 and a 1 year high of $61.83.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, October 22nd. The casino operator reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.16. Las Vegas Sands had a return on equity of 73.14% and a net margin of 12.69%.The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue was up 24.2% compared to the same quarter last year. Equities research analysts predict that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Tuesday, November 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, November 4th. Las Vegas Sands’s dividend payout ratio is 45.25%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LVS. Argus upped their price target on Las Vegas Sands from $60.00 to $65.00 in a research note on Tuesday, September 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Las Vegas Sands in a research note on Wednesday, October 8th. Barclays upped their price target on Las Vegas Sands from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group upped their price target on Las Vegas Sands from $57.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Finally, Morgan Stanley upped their price target on Las Vegas Sands from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.13.

Hedge Funds Weigh In On Las Vegas Sands

Institutional investors have recently modified their holdings of the business. Westside Investment Management Inc. grew its holdings in Las Vegas Sands by 48.0% during the third quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator’s stock valued at $28,000 after purchasing an additional 166 shares during the period. Horizon Kinetics Asset Management LLC lifted its position in shares of Las Vegas Sands by 0.3% during the second quarter. Horizon Kinetics Asset Management LLC now owns 61,993 shares of the casino operator’s stock worth $2,697,000 after acquiring an additional 213 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Las Vegas Sands by 37.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator’s stock worth $38,000 after acquiring an additional 239 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Las Vegas Sands by 21.4% during the second quarter. Harbour Investments Inc. now owns 1,401 shares of the casino operator’s stock worth $61,000 after acquiring an additional 247 shares in the last quarter. Finally, Wealthfront Advisers LLC lifted its position in shares of Las Vegas Sands by 1.5% during the second quarter. Wealthfront Advisers LLC now owns 18,189 shares of the casino operator’s stock worth $791,000 after acquiring an additional 273 shares in the last quarter. 39.16% of the stock is owned by institutional investors.

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.