Raymond James Financial Services Advisors Inc. Sells 5,174 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Raymond James Financial Services Advisors Inc. cut its holdings in shares of Las Vegas Sands Corp. (NYSE:LVSGet Rating) by 12.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 36,939 shares of the casino operator’s stock after selling 5,174 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Las Vegas Sands were worth $1,386,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LVS. Mirae Asset Global Investments Co. Ltd. raised its holdings in Las Vegas Sands by 27.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,146 shares of the casino operator’s stock worth $1,315,000 after acquiring an additional 8,429 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Las Vegas Sands by 1.6% during the 2nd quarter. Asset Management One Co. Ltd. now owns 149,960 shares of the casino operator’s stock worth $5,037,000 after purchasing an additional 2,290 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Las Vegas Sands by 13.9% in the 2nd quarter. Truist Financial Corp now owns 27,107 shares of the casino operator’s stock valued at $911,000 after buying an additional 3,302 shares during the last quarter. Mirador Capital Partners LP grew its stake in shares of Las Vegas Sands by 12.7% in the second quarter. Mirador Capital Partners LP now owns 98,474 shares of the casino operator’s stock valued at $3,308,000 after buying an additional 11,120 shares in the last quarter. Finally, Kentucky Retirement Systems raised its position in Las Vegas Sands by 16.5% during the second quarter. Kentucky Retirement Systems now owns 25,520 shares of the casino operator’s stock worth $857,000 after acquiring an additional 3,606 shares in the last quarter. 39.75% of the stock is currently owned by institutional investors and hedge funds.

Las Vegas Sands Stock Performance

Shares of LVS stock opened at $54.37 on Friday. Las Vegas Sands Corp. has a 12 month low of $28.88 and a 12 month high of $55.34. The stock has a market capitalization of $41.55 billion, a P/E ratio of 22.19 and a beta of 1.12. The company has a current ratio of 1.83, a quick ratio of 1.82 and a debt-to-equity ratio of 3.64. The firm’s 50 day moving average is $47.87 and its 200 day moving average is $41.13.

Las Vegas Sands (NYSE:LVSGet Rating) last posted its quarterly earnings results on Wednesday, October 19th. The casino operator reported ($0.27) EPS 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 company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned ($0.45) earnings per share. Las Vegas Sands’s revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts anticipate that Las Vegas Sands Corp. will post -1.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on LVS. Bank of America lifted their price objective on shares of Las Vegas Sands from $46.00 to $52.00 in a research report on Wednesday, January 4th. Barclays lifted their target price on Las Vegas Sands from $43.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, December 15th. CICC Research initiated coverage on shares of Las Vegas Sands in a report on Thursday, November 24th. They set an “outperform” rating for the company. JPMorgan Chase & Co. boosted their price target on Las Vegas Sands from $44.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, November 28th. Finally, Citigroup increased their target price on shares of Las Vegas Sands from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.55.

About Las Vegas Sands

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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.

Further Reading

Want to see what other hedge funds are holding LVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Las Vegas Sands Corp. (NYSE:LVSGet Rating).

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

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