Thornburg Investment Management Inc. lowered its stake in Las Vegas Sands Corp. (NYSE:LVS) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,903,228 shares of the casino operator’s stock after selling 56,400 shares during the quarter. Las Vegas Sands comprises about 1.9% of Thornburg Investment Management Inc.’s holdings, making the stock its 14th biggest position. Thornburg Investment Management Inc.’s holdings in Las Vegas Sands were worth $231,579,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its position in shares of Las Vegas Sands by 8.2% during the third quarter. American Century Companies Inc. now owns 3,117,041 shares of the casino operator’s stock worth $184,934,000 after purchasing an additional 237,266 shares in the last quarter. Cadence Capital Management LLC grew its position in shares of Las Vegas Sands by 23.2% during the third quarter. Cadence Capital Management LLC now owns 47,938 shares of the casino operator’s stock worth $2,844,000 after purchasing an additional 9,026 shares in the last quarter. Marathon Asset Management LLP purchased a new stake in shares of Las Vegas Sands during the third quarter worth about $404,981,000. Ashfield Capital Partners LLC grew its position in shares of Las Vegas Sands by 128.8% during the third quarter. Ashfield Capital Partners LLC now owns 12,367 shares of the casino operator’s stock worth $734,000 after purchasing an additional 6,962 shares in the last quarter. Finally, Tdam USA Inc. grew its position in shares of Las Vegas Sands by 1.8% during the third quarter. Tdam USA Inc. now owns 122,085 shares of the casino operator’s stock worth $7,870,000 after purchasing an additional 2,140 shares in the last quarter. 38.70% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on LVS shares. ValuEngine cut Las Vegas Sands from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. HSBC upgraded Las Vegas Sands from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Monday, October 15th. Zacks Investment Research cut Las Vegas Sands from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Goldman Sachs Group cut Las Vegas Sands from a “conviction-buy” rating to a “buy” rating in a research report on Friday, October 19th. Finally, Morgan Stanley cut their target price on Las Vegas Sands from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $73.50.
NYSE LVS opened at $55.32 on Tuesday. The company has a market cap of $44.07 billion, a price-to-earnings ratio of 18.20 and a beta of 1.59. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.93 and a quick ratio of 1.92. Las Vegas Sands Corp. has a 1-year low of $49.28 and a 1-year high of $81.45.
Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, October 24th. The casino operator reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.04). The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Las Vegas Sands had a net margin of 27.71% and a return on equity of 34.18%. As a group, research analysts forecast that Las Vegas Sands Corp. will post 3.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Tuesday, December 18th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 5.42%. The ex-dividend date is Monday, December 17th. Las Vegas Sands’s dividend payout ratio is presently 98.68%.
In other Las Vegas Sands news, EVP Lawrence A. Jacobs sold 66,667 shares of the firm’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 transaction of $4,063,353.65. Following the completion of the transaction, the executive vice president now owns 66,667 shares in the company, valued at approximately $4,063,353.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.20% of the company’s stock.
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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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