Cohen Capital Management Inc. Lowers Stock Position in Las Vegas Sands Corp. (NYSE:LVS)

Cohen Capital Management Inc. cut its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 53.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,456 shares of the casino operator’s stock after selling 21,500 shares during the quarter. Cohen Capital Management Inc.’s holdings in Las Vegas Sands were worth $929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC grew its position in Las Vegas Sands by 118.8% in the third quarter. CVA Family Office LLC now owns 560 shares of the casino operator’s stock worth $28,000 after acquiring an additional 304 shares in the last quarter. Bank & Trust Co bought a new stake in Las Vegas Sands in the 2nd quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Las Vegas Sands by 93.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 906 shares of the casino operator’s stock worth $40,000 after buying an additional 437 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Las Vegas Sands during the first quarter valued at approximately $43,000. Finally, GAMMA Investing LLC raised its stake in shares of Las Vegas Sands by 40.1% during the third quarter. GAMMA Investing LLC now owns 849 shares of the casino operator’s stock worth $43,000 after acquiring an additional 243 shares in the last quarter. Institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Stock Performance

Shares of Las Vegas Sands stock opened at $51.58 on Monday. The company has a current ratio of 0.90, a quick ratio of 1.57 and a debt-to-equity ratio of 3.09. The firm has a market capitalization of $37.40 billion, a P/E ratio of 25.61, a P/E/G ratio of 1.36 and a beta of 1.11. The business has a fifty day simple moving average of $46.61 and a two-hundred day simple moving average of $44.42. Las Vegas Sands Corp. has a 12 month low of $36.62 and a 12 month high of $55.65.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). Las Vegas Sands had a net margin of 13.29% and a return on equity of 44.26%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the business earned $0.55 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. On average, equities analysts forecast that Las Vegas Sands Corp. will post 2.35 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, November 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.55%. Las Vegas Sands’s payout ratio is presently 39.60%.

Insider Buying and Selling at Las Vegas Sands

In other news, CEO Robert G. Goldstein sold 119,221 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $53.73, for a total transaction of $6,405,744.33. Following the sale, the chief executive officer now owns 84,511 shares in the company, valued at $4,540,776.03. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.91% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on LVS. StockNews.com lowered shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Susquehanna boosted their target price on Las Vegas Sands from $51.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Barclays raised their price target on Las Vegas Sands from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Macquarie lowered their price objective on Las Vegas Sands from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, Stifel Nicolaus lifted their target price on shares of Las Vegas Sands from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.92.

Las Vegas Sands Company Profile

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.