Inlet Private Wealth LLC lessened its holdings in Las Vegas Sands Corp. (NYSE:LVS) by 36.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,950 shares of the casino operator’s stock after selling 9,700 shares during the period. Inlet Private Wealth LLC’s holdings in Las Vegas Sands were worth $791,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors increased its stake in shares of Las Vegas Sands by 142.9% during the 1st quarter. Capital International Investors now owns 20,249,757 shares of the casino operator’s stock worth $860,008,000 after purchasing an additional 11,914,610 shares during the last quarter. State Street Corp boosted its holdings in Las Vegas Sands by 3.8% in the 1st quarter. State Street Corp now owns 14,950,074 shares of the casino operator’s stock valued at $634,930,000 after purchasing an additional 544,041 shares during the period. Viking Global Investors LP boosted its holdings in Las Vegas Sands by 259.5% in the 2nd quarter. Viking Global Investors LP now owns 11,125,343 shares of the casino operator’s stock valued at $506,648,000 after purchasing an additional 8,030,972 shares during the period. Capital World Investors boosted its holdings in Las Vegas Sands by 4.2% in the 1st quarter. Capital World Investors now owns 10,034,931 shares of the casino operator’s stock valued at $426,184,000 after purchasing an additional 404,083 shares during the period. Finally, Melvin Capital Management LP boosted its holdings in Las Vegas Sands by 11.0% in the 1st quarter. Melvin Capital Management LP now owns 7,442,247 shares of the casino operator’s stock valued at $316,072,000 after purchasing an additional 734,995 shares during the period. Institutional investors own 36.45% of the company’s stock.
NYSE LVS traded down $0.37 during trading on Friday, reaching $45.37. 3,108,199 shares of the company’s stock traded hands, compared to its average volume of 6,861,981. The company has a debt-to-equity ratio of 3.04, a current ratio of 1.59 and a quick ratio of 1.57. The firm has a market cap of $34.65 billion, a price-to-earnings ratio of 103.12 and a beta of 1.48. The company’s 50 day simple moving average is $48.65 and its two-hundred day simple moving average is $47.19. Las Vegas Sands Corp. has a 12-month low of $33.30 and a 12-month high of $74.29.
Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, July 22nd. The casino operator reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.33). Las Vegas Sands had a net margin of 3.95% and a return on equity of 7.46%. The business had revenue of $98.00 million for the quarter, compared to analysts’ expectations of $738.91 million. During the same period last year, the business posted $0.72 EPS. Research analysts expect that Las Vegas Sands Corp. will post -1.58 earnings per share for the current fiscal year.
LVS has been the subject of several analyst reports. Bank of America reissued a “buy” rating and issued a $61.00 price target on shares of Las Vegas Sands in a report on Friday, August 7th. Zacks Investment Research downgraded shares of Las Vegas Sands from a “hold” rating to a “sell” rating and set a $49.00 price target for the company. in a report on Tuesday, June 23rd. Citigroup cut their price target on shares of Las Vegas Sands from $67.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Las Vegas Sands from $53.00 to $57.00 in a report on Wednesday, September 9th. Finally, Roth Capital downgraded shares of Las Vegas Sands from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $52.00 to $47.00 in a report on Wednesday, September 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. Las Vegas Sands presently has an average rating of “Buy” and an average target price of $56.06.
Las Vegas Sands Company 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 The Venetian Macao Resort Hotel, the Sands Cotai Central, 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.
Read More: Cost of Equity For A Business, Investors
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