Gabelli Funds LLC trimmed its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS – Free Report) by 1.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. California Public Employees Retirement System lifted its stake in Las Vegas Sands by 4.9% during the 3rd quarter. California Public Employees Retirement System now owns 652,220 shares of the casino operator’s stock valued at $29,898,000 after acquiring an additional 30,500 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in Las Vegas Sands by 15.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,195 shares of the casino operator’s stock valued at $467,000 after acquiring an additional 1,379 shares in the last quarter. EA Series Trust bought a new position in Las Vegas Sands during the 2nd quarter valued at $3,081,000. Mutual Advisors LLC bought a new position in Las Vegas Sands during the 2nd quarter valued at $323,000. Finally, MUFG Securities EMEA plc lifted its stake in Las Vegas Sands by 104.0% during the 2nd quarter. MUFG Securities EMEA plc now owns 1,930 shares of the casino operator’s stock valued at $112,000 after acquiring an additional 984 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors.
Las Vegas Sands Price Performance
Shares of Las Vegas Sands stock opened at $53.62 on Friday. The business has a 50 day moving average of $49.25 and a 200 day moving average of $49.83. The company has a quick ratio of 1.50, a current ratio of 1.31 and a debt-to-equity ratio of 2.96. The company has a market cap of $40.41 billion, a PE ratio of 33.51, a P/E/G ratio of 2.87 and a beta of 1.16. Las Vegas Sands Corp. has a 52 week low of $43.77 and a 52 week high of $65.58.
Las Vegas Sands declared that its board has approved a stock repurchase program on Wednesday, October 18th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the casino operator to buy up to 5.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
Las Vegas Sands Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th will be paid a $0.20 dividend. The ex-dividend date is Monday, February 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. Las Vegas Sands’s dividend payout ratio is currently 50.00%.
Insider Transactions at Las Vegas Sands
In related news, major shareholder Miriam Adelson sold 12,253,628 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $43.23, for a total transaction of $529,724,338.44. Following the sale, the insider now directly owns 41,134,164 shares of the company’s stock, valued at $1,778,229,909.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.91% of the company’s stock.
Analyst Ratings Changes
Several brokerages have weighed in on LVS. Susquehanna began coverage on Las Vegas Sands in a research note on Friday, December 15th. They set a “positive” rating and a $59.00 price objective on the stock. Morgan Stanley raised their price objective on Las Vegas Sands from $59.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday. 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. StockNews.com lowered Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Friday, December 8th. Finally, 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. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Las Vegas Sands presently has an average rating of “Moderate Buy” and a consensus target price of $68.82.
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.
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