Russell Investments Group Ltd. cut its position in Las Vegas Sands Corp. (NYSE:LVS) by 20.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,164 shares of the casino operator’s stock after selling 25,208 shares during the period. Russell Investments Group Ltd.’s holdings in Las Vegas Sands were worth $5,951,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Buckley Wealth Management LLC raised its stake in shares of Las Vegas Sands by 21.0% in the third quarter. Buckley Wealth Management LLC now owns 11,554 shares of the casino operator’s stock worth $685,000 after acquiring an additional 2,004 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of Las Vegas Sands by 28.1% in the third quarter. Alps Advisors Inc. now owns 7,966 shares of the casino operator’s stock worth $473,000 after acquiring an additional 1,749 shares during the last quarter. Alpha Cubed Investments LLC bought a new position in shares of Las Vegas Sands in the third quarter worth about $689,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Las Vegas Sands by 80.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 487,550 shares of the casino operator’s stock worth $28,924,000 after acquiring an additional 216,686 shares during the last quarter. Finally, Palo Capital Inc. bought a new position in shares of Las Vegas Sands in the third quarter worth about $2,192,000. Hedge funds and other institutional investors own 37.21% of the company’s stock.
In other Las Vegas Sands news, EVP Lawrence A. Jacobs sold 66,667 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $60.95, for a total value of $4,063,353.65. Following the completion of the sale, the executive vice president now owns 66,667 shares of the company’s stock, valued at $4,063,353.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.20% of the stock is currently owned by corporate insiders.
Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings results on Wednesday, October 24th. The casino operator reported $0.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.04). The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.41 billion. Las Vegas Sands had a return on equity of 34.18% and a net margin of 27.71%. On average, equities research analysts anticipate that Las Vegas Sands Corp. will post 3.4 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Tuesday, December 18th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date is Monday, December 17th. Las Vegas Sands’s dividend payout ratio (DPR) is 98.68%.
A number of equities analysts have weighed in on LVS shares. Morgan Stanley dropped their target price on shares of Las Vegas Sands from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, July 26th. Stifel Nicolaus dropped their target price on shares of Las Vegas Sands from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, July 26th. Credit Suisse Group assumed coverage on shares of Las Vegas Sands in a research note on Tuesday, August 14th. They issued a “neutral” rating and a $72.00 target price for the company. ValuEngine downgraded shares of Las Vegas Sands from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Las Vegas Sands currently has a consensus rating of “Hold” and an average price target of $74.03.
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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.
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