Voya Investment Management LLC Decreases Stock Holdings in Las Vegas Sands Corp. $LVS

by · The Cerbat Gem

Voya Investment Management LLC lessened its stake in shares of Las Vegas Sands Corp. (NYSE:LVSFree Report) by 60.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,750 shares of the casino operator’s stock after selling 120,542 shares during the quarter. Voya Investment Management LLC’s holdings in Las Vegas Sands were worth $4,182,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in LVS. Maple Rock Capital Partners Inc. lifted its holdings in shares of Las Vegas Sands by 124.4% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,003,880 shares of the casino operator’s stock valued at $43,679,000 after buying an additional 556,440 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Las Vegas Sands by 7.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 644,286 shares of the casino operator’s stock worth $28,033,000 after purchasing an additional 42,598 shares during the period. Intech Investment Management LLC purchased a new position in Las Vegas Sands during the second quarter valued at $1,254,000. Pallas Capital Advisors LLC bought a new stake in Las Vegas Sands during the second quarter valued at about $908,000. Finally, Creative Planning increased its position in Las Vegas Sands by 10.6% in the second quarter. Creative Planning now owns 49,093 shares of the casino operator’s stock worth $2,136,000 after buying an additional 4,705 shares in the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Trading Up 0.1%

LVS stock opened at $66.26 on Friday. The firm has a fifty day moving average price of $63.61 and a 200 day moving average price of $55.14. Las Vegas Sands Corp. has a fifty-two week low of $30.18 and a fifty-two week high of $70.45. The firm has a market cap of $44.80 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.80 and a beta of 0.97. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.88 and a current ratio of 0.89.

Las Vegas Sands (NYSE:LVSGet Free Report) last released its quarterly earnings data on Wednesday, October 22nd. The casino operator reported $0.78 EPS for the quarter, beating the consensus estimate of $0.62 by $0.16. Las Vegas Sands had a net margin of 12.69% and a return on equity of 73.14%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the business earned $0.44 earnings per share. Las Vegas Sands’s quarterly revenue was up 24.2% compared to the same quarter last year. Sell-side analysts anticipate that Las Vegas Sands Corp. will post 2.6 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Tuesday, November 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.5%. Las Vegas Sands’s dividend payout ratio (DPR) is currently 45.25%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Seaport Global Securities lifted their price objective on Las Vegas Sands from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Susquehanna upped their price target on shares of Las Vegas Sands from $62.00 to $63.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Las Vegas Sands in a research report on Monday. Argus lifted their target price on shares of Las Vegas Sands from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, Citigroup increased their price target on Las Vegas Sands from $75.50 to $76.75 and gave the stock a “buy” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.52.

Get Our Latest Report on LVS

Insiders Place Their Bets

In other Las Vegas Sands news, major shareholder Miriam Adelson sold 77,991 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $67.56, for a total value of $5,269,071.96. Following the sale, the insider owned 23,333,441 shares in the company, valued at $1,576,407,273.96. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Patrick Dumont sold 135,603 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $67.96, for a total transaction of $9,215,579.88. Following the sale, the chief operating officer directly owned 446,608 shares of the company’s stock, valued at $30,351,479.68. This represents a 23.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,182,053 shares of company stock valued at $333,348,399 over the last ninety days. 1.20% of the stock is owned by insiders.

Las Vegas Sands Profile

(Free Report)

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.

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