Commonwealth Equity Services LLC Sells 9,203 Shares of Las Vegas Sands Corp. (LVS)

Commonwealth Equity Services LLC trimmed its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 12.6% in the third quarter, Holdings Channel reports. The institutional investor owned 63,891 shares of the casino operator’s stock after selling 9,203 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Las Vegas Sands were worth $3,790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LVS. Principal Financial Group Inc. increased its stake in Las Vegas Sands by 133.3% in the first quarter. Principal Financial Group Inc. now owns 410,631 shares of the casino operator’s stock valued at $29,524,000 after purchasing an additional 234,641 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in Las Vegas Sands in the second quarter valued at approximately $573,000. Steward Partners Investment Advisory LLC increased its stake in Las Vegas Sands by 45.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 9,012 shares of the casino operator’s stock valued at $688,000 after purchasing an additional 2,800 shares in the last quarter. Bank Hapoalim BM bought a new stake in Las Vegas Sands in the second quarter valued at approximately $276,000. Finally, Acadian Asset Management LLC increased its stake in Las Vegas Sands by 41.8% in the second quarter. Acadian Asset Management LLC now owns 241,528 shares of the casino operator’s stock valued at $18,442,000 after purchasing an additional 71,227 shares in the last quarter. 37.21% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Lawrence A. Jacobs sold 66,667 shares of the stock in a transaction on Thursday, September 6th. The shares were 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 $4,063,353.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.20% of the company’s stock.

LVS has been the subject of several recent analyst reports. HSBC raised shares of Las Vegas Sands from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Monday, October 15th. ValuEngine downgraded shares of Las Vegas Sands from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Goldman Sachs Group downgraded shares of Las Vegas Sands from a “conviction-buy” rating to a “buy” rating in a research note on Friday, October 19th. Zacks Investment Research downgraded shares of Las Vegas Sands from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Finally, Bank of America reaffirmed a “hold” rating and issued a $60.00 target price on shares of Las Vegas Sands in a research note on Tuesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $74.03.

Shares of LVS opened at $51.96 on Thursday. Las Vegas Sands Corp. has a 12 month low of $48.64 and a 12 month high of $81.45. The firm has a market cap of $39.53 billion, a P/E ratio of 17.09 and a beta of 1.59. The company has a quick ratio of 1.92, a current ratio of 1.93 and a debt-to-equity ratio of 1.52.

Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, October 24th. The casino operator reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.04). Las Vegas Sands had a return on equity of 34.18% and a net margin of 27.71%. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.41 billion. As a group, equities research analysts predict that Las Vegas Sands Corp. will post 3.4 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Investors 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 5.77%. The ex-dividend date of this dividend is Monday, December 17th. Las Vegas Sands’s payout ratio is 98.68%.

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About Las Vegas Sands

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.

See Also: Earnings Per Share

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Institutional Ownership by Quarter for Las Vegas Sands (NYSE:LVS)

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