Gabelli Funds LLC Sells 500 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Gabelli Funds LLC lessened its holdings in shares of Las Vegas Sands Corp. (NYSE:LVSFree Report) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,600 shares of the casino operator’s stock after selling 500 shares during the period. Gabelli Funds LLC’s holdings in Las Vegas Sands were worth $1,540,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management raised its stake in Las Vegas Sands by 125.2% in the 3rd quarter. Spire Wealth Management now owns 1,018 shares of the casino operator’s stock worth $47,000 after acquiring an additional 566 shares during the last quarter. American Assets Capital Advisers LLC grew its position in shares of Las Vegas Sands by 24.9% during the 3rd quarter. American Assets Capital Advisers LLC now owns 198,008 shares of the casino operator’s stock valued at $9,077,000 after acquiring an additional 39,538 shares during the period. Amalgamated Bank grew its position in shares of Las Vegas Sands by 3.2% during the 3rd quarter. Amalgamated Bank now owns 90,813 shares of the casino operator’s stock valued at $4,163,000 after acquiring an additional 2,805 shares during the period. American Assets Investment Management LLC acquired a new stake in shares of Las Vegas Sands during the 3rd quarter valued at about $325,000. Finally, New York Life Investment Management LLC grew its position in shares of Las Vegas Sands by 0.7% during the 3rd quarter. New York Life Investment Management LLC now owns 47,237 shares of the casino operator’s stock valued at $2,165,000 after acquiring an additional 306 shares during the period. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LVS. UBS Group raised their target price on Las Vegas Sands from $71.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, November 16th. StockNews.com cut Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Friday, December 8th. Susquehanna began coverage on Las Vegas Sands in a research report on Friday, December 15th. They set a “positive” rating and a $59.00 target price on the stock. Stifel Nicolaus raised their target price on Las Vegas Sands from $69.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, Morgan Stanley lifted their price objective on Las Vegas Sands from $59.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Las Vegas Sands currently has a consensus rating of “Moderate Buy” and an average target price of $68.82.

Get Our Latest Stock Report on Las Vegas Sands

Las Vegas Sands Trading Up 0.0 %

LVS opened at $53.62 on Friday. The firm has a market capitalization of $40.41 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 2.87 and a beta of 1.16. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.31 and a quick ratio of 1.50. The company’s 50 day simple moving average is $49.25 and its two-hundred day simple moving average is $49.83. Las Vegas Sands Corp. has a 1-year low of $43.77 and a 1-year high of $65.58.

Las Vegas Sands (NYSE:LVSGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The casino operator reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Las Vegas Sands had a net margin of 11.77% and a return on equity of 34.40%. The firm’s quarterly revenue was up 161.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) EPS. Analysts expect that Las Vegas Sands Corp. will post 2.74 EPS for the current fiscal year.

Las Vegas Sands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, February 5th. Las Vegas Sands’s payout ratio is presently 50.00%.

Las Vegas Sands announced that its Board of Directors has initiated a share repurchase plan on Wednesday, October 18th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the casino operator to buy up to 5.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Las Vegas Sands news, major shareholder Miriam Adelson sold 12,253,628 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $43.23, for a total value of $529,724,338.44. Following the sale, the insider now owns 41,134,164 shares of the company’s stock, valued at $1,778,229,909.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.91% of the company’s stock.

Las Vegas Sands Company Profile

(Free Report)

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. 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

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

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