Pekin Hardy Strauss Inc. Cuts Position in Las Vegas Sands Corp. (NYSE:LVS)

Pekin Hardy Strauss Inc. reduced its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 22.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,120 shares of the casino operator’s stock after selling 4,050 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Las Vegas Sands were worth $711,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. CVA Family Office LLC boosted its holdings in Las Vegas Sands by 118.8% during the 3rd quarter. CVA Family Office LLC now owns 560 shares of the casino operator’s stock valued at $28,000 after acquiring an additional 304 shares during the period. Bank & Trust Co acquired a new stake in shares of Las Vegas Sands during the second quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Las Vegas Sands in the third quarter valued at approximately $34,000. Capital Performance Advisors LLP acquired a new position in shares of Las Vegas Sands in the third quarter valued at approximately $43,000. Finally, GAMMA Investing LLC increased its stake in Las Vegas Sands by 40.1% during the 3rd quarter. GAMMA Investing LLC now owns 849 shares of the casino operator’s stock worth $43,000 after buying an additional 243 shares during the period. 39.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Robert G. Goldstein sold 24,324 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $52.00, for a total value of $1,264,848.00. Following the transaction, the chief executive officer now owns 60,187 shares in the company, valued at $3,129,724. The trade was a 28.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

LVS has been the subject of several recent research reports. UBS Group raised their price target on shares of Las Vegas Sands from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Susquehanna boosted their target price on Las Vegas Sands from $51.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on Las Vegas Sands from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on Las Vegas Sands from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Argus cut shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Las Vegas Sands has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Las Vegas Sands Stock Performance

Shares of LVS stock opened at $50.08 on Monday. The stock’s 50-day moving average is $49.73 and its two-hundred day moving average is $44.84. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.89 and a current ratio of 0.90. Las Vegas Sands Corp. has a 1 year low of $36.62 and a 1 year high of $55.65. The firm has a market cap of $36.31 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.32 and a beta of 1.11.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). Las Vegas Sands had a return on equity of 44.26% and a net margin of 13.29%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the prior year, the business earned $0.55 EPS. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. Analysts predict that Las Vegas Sands Corp. will post 2.33 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Tuesday, November 5th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.80 annualized dividend and a yield of 1.60%. Las Vegas Sands’s dividend payout ratio (DPR) 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.