CIBC Asset Management Inc Raises Stock Position in Las Vegas Sands Corp. (NYSE:LVS)

CIBC Asset Management Inc raised its holdings in Las Vegas Sands Corp. (NYSE:LVS) by 5.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 63,486 shares of the casino operator’s stock after acquiring an additional 3,217 shares during the period. CIBC Asset Management Inc’s holdings in Las Vegas Sands were worth $3,196,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CVA Family Office LLC boosted its stake 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 during the last quarter. Bank & Trust Co acquired a new stake in shares of Las Vegas Sands during the 2nd quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Las Vegas Sands during the 3rd quarter worth approximately $34,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings 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 purchasing an additional 437 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Las Vegas Sands by 40.1% in the 3rd quarter. GAMMA Investing LLC now owns 849 shares of the casino operator’s stock valued at $43,000 after purchasing an additional 243 shares during the period. 39.16% of the stock is owned by institutional investors and hedge funds.

Las Vegas Sands Stock Performance

NYSE:LVS opened at $49.14 on Tuesday. Las Vegas Sands Corp. has a twelve month low of $36.62 and a twelve month high of $55.65. The company has a market cap of $35.63 billion, a P/E ratio of 24.33, a P/E/G ratio of 1.26 and a beta of 1.11. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 3.09. The company’s 50-day moving average price is $48.91 and its 200-day moving average price is $44.75.

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 company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.55 earnings per share. On average, sell-side analysts forecast that Las Vegas Sands Corp. will post 2.33 earnings per share for the current fiscal year.

Las Vegas Sands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Tuesday, November 5th. Las Vegas Sands’s dividend payout ratio (DPR) is currently 39.60%.

Insider Buying and Selling at Las Vegas Sands

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 transaction of $6,405,744.33. Following the transaction, the chief executive officer now owns 84,511 shares of the company’s stock, valued at approximately $4,540,776.03. The trade was a 58.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.91% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on LVS shares. Mizuho lifted their price objective on shares of Las Vegas Sands from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Macquarie cut their price target on Las Vegas Sands from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. StockNews.com downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Morgan Stanley raised their price objective on Las Vegas Sands from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Las Vegas Sands from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

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.