Great West Life Assurance Co. may reduce its stock position in Las Vegas Sands Corp. (NYSE:LVS)
Great West Life Assurance Co. Can reduced its position in shares of Las Vegas Sands Corp. (NYSE: LVS – Get a rating) by 0.9% in Q3, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor held 226,275 shares of the casino operator after selling 2,003 shares during the period. Great West Life Assurance Co. Can’s holdings in Las Vegas Sands were worth $8,476,000 when it was last filed with the SEC.
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Other hedge funds have also recently been buying and selling shares of the company. Mizuho Securities Co.Ltd. bought a new position in Las Vegas Sands during the third quarter worth about $30,000. Retirement Group LLC increased its stake in Las Vegas Sands by 100.0% in the second quarter. Retirement Group LLC now owns 1,310 shares of the casino operator worth $44,000 after purchasing an additional 655 shares in the last quarter. Ronald Blue Trust Inc. bought a new position in Las Vegas Sands in Q2 worth approximately $53,000. Disciplined Equity Management Inc. bought a new position in Las Vegas Sands in Q2 worth approximately $68,000. Finally, Worm Capital LLC bought a new position in Las Vegas Sands in Q2 worth around $87,000. Hedge funds and other institutional investors own 39.75% of the company’s shares.
Las Vegas Sands is trading down 0.0%
NYSE: LVS opened at $54.37 on Friday. The company has a fifty-day moving average of $47.87 and a 200-day moving average of $41.13. Las Vegas Sands Corp. has a 52-week low of $28.88 and a 52-week high of $55.34. The company has a quick ratio of 1.82, a current ratio of 1.83 and a debt ratio of 3.64. The company has a market capitalization of $41.55 billion, a P/E ratio of 22.19 and a beta of 1.12.
Las Vegas Sands (NYSE: LVS – Get a rating) last released its quarterly results on Wednesday, October 19. The casino operator reported ($0.27) EPS for the quarter, missing analyst consensus estimates of ($0.20) by ($0.07). Las Vegas Sands had a net margin of 46.94% and a negative return on equity of 25.33%. The company posted revenue of $1.01 billion for the quarter, versus a consensus estimate of $1.01 billion. In the same quarter of the previous year, the company had earned earnings per share of ($0.45). The company’s quarterly revenue increased by 17.3% compared to the same quarter last year. On average, research analysts predict that Las Vegas Sands Corp. will show -1.19 earnings per share for the current year.
Analysts set new price targets
A number of research firms have commented on LVS. Morgan Stanley raised its price target on Las Vegas Sands shares from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. raised its price target on Las Vegas Sands shares from $44.00 to $51.00 and gave the stock an “overweight” rating in a Monday, November 28 research note. Jefferies Financial Group upgraded shares of Las Vegas Sands from a “hold” rating to a “buy” rating in a Monday, September 26 report. Stifel Nicolaus raised his price target on Las Vegas Sands shares from $50.00 to $55.00 in a Wednesday, Dec. 7 report. Finally, Wells Fargo & Company raised its price target on Las Vegas Sands shares from $45.00 to $53.00 and gave the stock an “overweight” rating in a Tuesday, Jan. 3, report. One equity research analyst gave the stock a sell rating, two gave the stock a hold rating and nine gave the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $51.55.
Las Vegas Sands Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns and operates integrated resorts in Asia and the United States. It owns and operates Venetian Macao Resort Hotel, Londoner Macao, Parisian Macao, Plaza Macao and Four Seasons Hotel Macao, Cotai Strip and Sands Macao in Macao, People’s Republic of China; and Marina Bay Sands in Singapore.
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