Cohen Capital Management Inc. Sells 21,500 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Cohen Capital Management Inc. lessened its stake in Las Vegas Sands Corp. (NYSE:LVS) by 53.8% in the third quarter, HoldingsChannel reports. The firm owned 18,456 shares of the casino operator’s stock after selling 21,500 shares during the period. Cohen Capital Management Inc.’s holdings in Las Vegas Sands were worth $929,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LVS. CVA Family Office LLC boosted its position in 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 purchasing an additional 304 shares during the last quarter. Bank & Trust Co bought a new position in shares of Las Vegas Sands in the 2nd quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Las Vegas Sands by 93.2% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 906 shares of the casino operator’s stock valued at $40,000 after buying an additional 437 shares during the period. Fidelis Capital Partners LLC bought a new stake in Las Vegas Sands during the first quarter valued at approximately $43,000. Finally, GAMMA Investing LLC raised its position in Las Vegas Sands by 40.1% in the third quarter. GAMMA Investing LLC now owns 849 shares of the casino operator’s stock worth $43,000 after acquiring an additional 243 shares during the period. 39.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Las Vegas Sands from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Stifel Nicolaus lifted their target price on Las Vegas Sands from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com lowered Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Jefferies Financial Group reduced their price objective on Las Vegas Sands from $53.00 to $47.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, Barclays raised their target price on shares of Las Vegas Sands from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Las Vegas Sands currently has an average rating of “Moderate Buy” and a consensus price target of $57.92.

Insider Buying and Selling

In other news, CEO Robert G. Goldstein sold 119,221 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $53.73, for a total value of $6,405,744.33. Following the completion of the sale, the chief executive officer now owns 84,511 shares in the company, valued at approximately $4,540,776.03. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.91% of the stock is owned by insiders.

Las Vegas Sands Price Performance

LVS stock opened at $51.58 on Monday. The company has a current ratio of 0.90, a quick ratio of 1.57 and a debt-to-equity ratio of 3.09. Las Vegas Sands Corp. has a 12 month low of $36.62 and a 12 month high of $55.65. The stock has a market cap of $37.40 billion, a PE ratio of 25.61, a P/E/G ratio of 1.36 and a beta of 1.11. The company has a 50-day moving average price of $46.61 and a 200 day moving average price of $44.42.

Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Las Vegas Sands had a return on equity of 44.26% and a net margin of 13.29%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. Equities research analysts anticipate that Las Vegas Sands Corp. will post 2.35 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Tuesday, November 5th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Monday, November 4th. Las Vegas Sands’s dividend payout ratio is 39.60%.

About Las Vegas Sands

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.