Vanguard Group Inc. Trims Holdings in Las Vegas Sands Corp. $LVS

Vanguard Group Inc. cut its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,227,167 shares of the casino operator’s stock after selling 844,847 shares during the period. Vanguard Group Inc. owned 6.25% of Las Vegas Sands worth $2,271,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its holdings in shares of Las Vegas Sands by 358.4% during the third quarter. Allianz Asset Management GmbH now owns 227,278 shares of the casino operator’s stock valued at $12,225,000 after purchasing an additional 177,695 shares during the last quarter. Maple Rock Capital Partners Inc. grew its position in Las Vegas Sands by 124.4% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,003,880 shares of the casino operator’s stock worth $43,679,000 after purchasing an additional 556,440 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Las Vegas Sands by 7.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 644,286 shares of the casino operator’s stock valued at $28,033,000 after purchasing an additional 42,598 shares during the period. Donoghue Forlines LLC bought a new stake in shares of Las Vegas Sands during the third quarter valued at approximately $2,143,000. Finally, National Pension Service acquired a new position in shares of Las Vegas Sands during the third quarter worth approximately $1,262,000. Institutional investors and hedge funds own 39.16% of the company’s stock.

Las Vegas Sands Price Performance

Shares of LVS opened at $58.04 on Friday. The firm has a market capitalization of $38.99 billion, a PE ratio of 24.76, a P/E/G ratio of 1.50 and a beta of 0.93. Las Vegas Sands Corp. has a 52-week low of $30.18 and a 52-week high of $70.45. The stock has a 50 day simple moving average of $61.08 and a 200 day simple moving average of $58.72. The company has a debt-to-equity ratio of 7.58, a quick ratio of 1.13 and a current ratio of 1.14.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, January 28th. The casino operator reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.08. Las Vegas Sands had a return on equity of 91.40% and a net margin of 12.50%.The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the firm earned $0.54 EPS. The firm’s revenue was up 26.0% compared to the same quarter last year. Sell-side analysts predict that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Monday, February 9th were paid a $0.30 dividend. This is an increase from Las Vegas Sands’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, February 9th. Las Vegas Sands’s payout ratio is presently 51.28%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Jefferies Financial Group cut their target price on Las Vegas Sands from $78.00 to $72.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Las Vegas Sands in a research note on Monday, December 29th. Morgan Stanley set a $66.00 price target on shares of Las Vegas Sands in a report on Wednesday, February 11th. Argus reduced their price objective on Las Vegas Sands from $80.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Finally, UBS Group boosted their target price on Las Vegas Sands from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, December 8th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.55.

Insiders Place Their Bets

In related news, CEO Robert G. Goldstein sold 1,198,650 shares of Las Vegas Sands stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $66.68, for a total transaction of $79,925,982.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Patrick Dumont sold 135,603 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $67.96, for a total value of $9,215,579.88. Following the completion of the transaction, the chief operating officer owned 446,608 shares of the company’s stock, valued at approximately $30,351,479.68. This represents a 23.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,082,053 shares of company stock worth $207,130,199. Company insiders own 1.20% of the company’s stock.

Las Vegas Sands Profile

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.