Oppenheimer Asset Management Inc. Sells 1,985 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Oppenheimer Asset Management Inc. lessened its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,881 shares of the casino operator’s stock after selling 1,985 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Las Vegas Sands were worth $4,877,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in LVS. CVA Family Office LLC lifted its position in shares of 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 buying an additional 304 shares in the last quarter. Bank & Trust Co purchased a new stake in shares of Las Vegas Sands during the 2nd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of Las Vegas Sands during the 3rd quarter valued at approximately $34,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Las Vegas Sands by 93.2% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 906 shares of the casino operator’s stock valued at $40,000 after acquiring an additional 437 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Las Vegas Sands by 40.1% in the third quarter. GAMMA Investing LLC now owns 849 shares of the casino operator’s stock valued at $43,000 after purchasing an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Insider Transactions at Las Vegas Sands

In other news, CEO Robert G. Goldstein sold 24,324 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $52.00, for a total transaction of $1,264,848.00. Following the transaction, the chief executive officer now owns 60,187 shares in the company, valued at approximately $3,129,724. This trade represents a 28.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.91% of the company’s stock.

Analyst Ratings Changes

LVS has been the topic of a number of recent research reports. Mizuho upped their price target on shares of Las Vegas Sands from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Morgan Stanley upped their target price on shares of Las Vegas Sands from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Barclays lifted 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. JPMorgan Chase & Co. boosted their price objective on Las Vegas Sands from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus raised their price objective on Las Vegas Sands from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Las Vegas Sands Price Performance

LVS opened at $48.53 on Friday. The business has a fifty day moving average of $48.39 and a 200 day moving average of $44.69. The stock has a market cap of $35.19 billion, a P/E ratio of 24.02, a PEG ratio of 1.30 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 3.09. Las Vegas Sands Corp. has a 52-week low of $36.62 and a 52-week high of $55.65.

Las Vegas Sands (NYSE:LVS) last issued its 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). The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Las Vegas Sands had a net margin of 13.29% and a return on equity of 44.26%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. As a group, sell-side analysts anticipate that Las Vegas Sands Corp. will post 2.33 EPS for the current year.

Las Vegas Sands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Tuesday, November 5th were paid a $0.20 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.65%. Las Vegas Sands’s dividend payout ratio is currently 39.60%.

Las Vegas Sands 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.