Metropolitan Life Insurance Co. NY lessened its stake in Las Vegas Sands Corp. (NYSE:LVS) by 22.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,949 shares of the casino operator’s stock after selling 6,072 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Las Vegas Sands were worth $1,600,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its position in Las Vegas Sands by 16.6% during the 1st quarter. IFP Advisors Inc now owns 4,870 shares of the casino operator’s stock valued at $350,000 after purchasing an additional 693 shares during the last quarter. Alps Advisors Inc. raised its position in Las Vegas Sands by 12.1% during the 2nd quarter. Alps Advisors Inc. now owns 7,295 shares of the casino operator’s stock valued at $507,000 after purchasing an additional 786 shares during the last quarter. Wagner Bowman Management Corp raised its position in Las Vegas Sands by 14.5% during the 2nd quarter. Wagner Bowman Management Corp now owns 6,503 shares of the casino operator’s stock valued at $496,000 after purchasing an additional 824 shares during the last quarter. Blair William & Co. IL raised its position in Las Vegas Sands by 14.0% during the 1st quarter. Blair William & Co. IL now owns 6,817 shares of the casino operator’s stock valued at $490,000 after purchasing an additional 838 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA raised its position in Las Vegas Sands by 16.1% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 6,972 shares of the casino operator’s stock valued at $532,000 after purchasing an additional 965 shares during the last quarter. 38.54% of the stock is owned by institutional investors.
LVS has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Las Vegas Sands from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Credit Suisse Group initiated coverage on Las Vegas Sands in a report on Tuesday, August 14th. They set a “neutral” rating and a $72.00 target price on the stock. Nomura reduced their target price on Las Vegas Sands from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, July 9th. Bank of America downgraded Las Vegas Sands from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $80.00 in a report on Monday, July 2nd. Finally, Morgan Stanley upped their target price on Las Vegas Sands from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, June 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $77.00.
In related news, EVP Lawrence A. Jacobs sold 66,667 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $60.95, for a total value of $4,063,353.65. Following the transaction, the executive vice president now directly owns 66,667 shares of the company’s stock, valued at approximately $4,063,353.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert G. Goldstein acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, July 31st. The stock was acquired at an average cost of $71.13 per share, for a total transaction of $711,300.00. Following the completion of the transaction, the chief operating officer now directly owns 10,000 shares in the company, valued at approximately $711,300. The disclosure for this purchase can be found here. Corporate insiders own 10.20% of the company’s stock.
Shares of Las Vegas Sands stock traded up $0.66 during midday trading on Friday, hitting $56.15. The company had a trading volume of 5,193,777 shares, compared to its average volume of 3,830,230. The company has a quick ratio of 1.68, a current ratio of 1.70 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $46.75 billion, a P/E ratio of 18.47 and a beta of 1.56. Las Vegas Sands Corp. has a 52-week low of $55.05 and a 52-week high of $81.45.
Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings results on Wednesday, July 25th. The casino operator reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.06). The company had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Las Vegas Sands had a return on equity of 35.22% and a net margin of 28.06%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 EPS. As a group, equities analysts expect that Las Vegas Sands Corp. will post 3.52 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 27th. Investors of record on Wednesday, September 19th were paid a $0.75 dividend. The ex-dividend date was Tuesday, September 18th. This represents a $3.00 annualized dividend and a dividend yield of 5.34%. Las Vegas Sands’s payout ratio is currently 98.68%.
Las Vegas Sands Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, 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 iconic Marina Bay Sands in Singapore.
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