Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Las Vegas Sands Corp. (NYSE:LVS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,652 shares of the casino operator’s stock, valued at approximately $218,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in Las Vegas Sands during the third quarter worth about $27,000. Glenmede Trust Co. NA boosted its position in Las Vegas Sands by 94.9% during the second quarter. Glenmede Trust Co. NA now owns 918 shares of the casino operator’s stock worth $41,000 after acquiring an additional 447 shares during the last quarter. Versant Capital Management Inc acquired a new position in Las Vegas Sands during the third quarter worth about $46,000. Hall Laurie J Trustee acquired a new position in Las Vegas Sands during the third quarter worth about $47,000. Finally, Whittier Trust Co. boosted its position in Las Vegas Sands by 31.5% during the third quarter. Whittier Trust Co. now owns 1,014 shares of the casino operator’s stock worth $47,000 after acquiring an additional 243 shares during the last quarter. 33.93% of the stock is owned by institutional investors.
A number of research firms recently weighed in on LVS. HSBC lowered shares of Las Vegas Sands from a “buy” rating to a “hold” rating and boosted their price target for the stock from $50.50 to $53.00 in a research report on Monday, November 16th. Morgan Stanley boosted their target price on shares of Las Vegas Sands from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Las Vegas Sands from $58.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, December 3rd. Jefferies Financial Group boosted their price target on shares of Las Vegas Sands from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Finally, Macquarie boosted their price target on shares of Las Vegas Sands from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, December 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $55.61.
Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, October 21st. The casino operator reported ($0.67) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.23). Las Vegas Sands had a negative net margin of 12.67% and a negative return on equity of 12.97%. The company had revenue of $586.00 million during the quarter, compared to analysts’ expectations of $633.36 million. During the same quarter in the prior year, the business earned $0.75 EPS. Equities analysts forecast that Las Vegas Sands Corp. will post -2.02 earnings per share for the current fiscal year.
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 Marina Bay Sands in Singapore.
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