International Assets Investment Management LLC Sells 131,400 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Posted by Defense World Staff on Jul 5th, 2023

International Assets Investment Management LLC decreased its holdings in Las Vegas Sands Corp. (NYSE:LVS – Free Report) by 35.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 235,286 shares of the casino operator’s stock after selling 131,400 shares during the quarter. International Assets Investment Management LLC’s holdings in Las Vegas Sands were worth $240,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP raised its position in Las Vegas Sands by 17.9% in the 4th quarter. Allworth Financial LP now owns 1,385 shares of the casino operator’s stock worth $67,000 after buying an additional 210 shares during the last quarter. Czech National Bank raised its position in Las Vegas Sands by 0.8% in the 4th quarter. Czech National Bank now owns 38,470 shares of the casino operator’s stock worth $1,849,000 after buying an additional 293 shares during the last quarter. Anomaly Capital Management LP increased its position in shares of Las Vegas Sands by 270.7% during the 4th quarter. Anomaly Capital Management LP now owns 1,993,958 shares of the casino operator’s stock valued at $95,850,000 after purchasing an additional 1,456,042 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Las Vegas Sands by 2.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 28,347 shares of the casino operator’s stock valued at $1,363,000 after purchasing an additional 691 shares during the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co purchased a new stake in shares of Las Vegas Sands during the 4th quarter valued at about $210,000. Hedge funds and other institutional investors own 39.66% of the company’s stock.

Las Vegas Sands Trading Up 1.0 %

LVS stock opened at $58.59 on Wednesday. Las Vegas Sands Corp. has a 1-year low of $30.93 and a 1-year high of $65.58. The company has a debt-to-equity ratio of 3.65, a current ratio of 1.79 and a quick ratio of 1.78. The company has a market capitalization of $44.78 billion, a price-to-earnings ratio of -81.37, a PEG ratio of 7.44 and a beta of 1.15. The business has a 50 day simple moving average of $59.15 and a two-hundred day simple moving average of $56.73.

Las Vegas Sands (NYSE:LVS – Free Report) last posted its quarterly earnings results on Wednesday, April 19th. The casino operator reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.11. Las Vegas Sands had a negative return on equity of 10.21% and a negative net margin of 10.42%. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the company posted ($0.40) EPS. The firm’s revenue for the quarter was up 124.8% compared to the same quarter last year. Research analysts anticipate that Las Vegas Sands Corp. will post 1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Roth Mkm upped their price target on shares of Las Vegas Sands from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 20th. StockNews.com assumed coverage on shares of Las Vegas Sands in a research report on Thursday, May 18th. They set a “hold” rating for the company. Jefferies Financial Group lowered shares of Las Vegas Sands from a “buy” rating to a “hold” rating and reduced their price target for the company from $69.00 to $65.00 in a research report on Thursday, June 8th. Citigroup upped their price target on shares of Las Vegas Sands from $76.00 to $80.50 and gave the company a “buy” rating in a research report on Thursday, April 20th. Finally, Credit Suisse Group upped their price target on shares of Las Vegas Sands from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, April 20th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Las Vegas Sands currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.35.

Insider Activity

In other news, Director Charles D. Forman sold 15,000 shares of the stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $63.17, for a total transaction of $947,550.00. Following the completion of the transaction, the director now directly owns 205,984 shares in the company, valued at approximately $13,012,009.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.91% of the company’s stock.

About Las Vegas Sands

(Free Report)

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.