Raymond James Financial Services Advisors Inc. lowered its stake in Las Vegas Sands Corp. (NYSE:LVS – Get Rating) by 12.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 36,939 shares of the casino operator’s stock after selling 5,174 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Las Vegas Sands were worth $1,386,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Sculptor Capital LP purchased a new position in Las Vegas Sands in the 2nd quarter worth approximately $41,358,000. Prudential Financial Inc. lifted its position in shares of Las Vegas Sands by 233.1% during the first quarter. Prudential Financial Inc. now owns 984,120 shares of the casino operator’s stock worth $38,253,000 after purchasing an additional 688,676 shares in the last quarter. Bridgewater Associates LP purchased a new position in shares of Las Vegas Sands in the first quarter valued at $21,388,000. Vanguard Group Inc. grew its holdings in Las Vegas Sands by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 35,537,902 shares of the casino operator’s stock valued at $1,381,358,000 after purchasing an additional 519,620 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Las Vegas Sands by 1.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 29,793,305 shares of the casino operator’s stock worth $1,000,757,000 after buying an additional 440,770 shares during the period. 39.75% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have recently weighed in on LVS. Bank of America raised their target price on Las Vegas Sands from $46.00 to $52.00 in a research note on Wednesday, January 4th. Jefferies Financial Group upgraded Las Vegas Sands from a “hold” rating to a “buy” rating in a research note on Monday, September 26th. Stifel Nicolaus upped their target price on Las Vegas Sands from $50.00 to $55.00 in a research report on Wednesday, December 7th. CICC Research started coverage on shares of Las Vegas Sands in a research report on Thursday, November 24th. They set an “outperform” rating for the company. Finally, Citigroup upped their price target on shares of Las Vegas Sands from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, October 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.55.
Las Vegas Sands Stock Performance
Las Vegas Sands (NYSE:LVS – Get Rating) last issued its earnings results on Wednesday, October 19th. The casino operator reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.07). Las Vegas Sands had a negative return on equity of 25.33% and a net margin of 46.94%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company posted ($0.45) earnings per share. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. Equities research analysts forecast that Las Vegas Sands Corp. will post -1.19 EPS for the current year.
Las Vegas Sands Company 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 Londoner Macao, 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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