Creative Planning Sells 1,103 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Posted by Defense World Staff on Oct 11th, 2023

Creative Planning reduced its position in shares of Las Vegas Sands Corp. (NYSE:LVS – Free Report) by 2.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,159 shares of the casino operator’s stock after selling 1,103 shares during the quarter. Creative Planning’s holdings in Las Vegas Sands were worth $2,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of LVS. ZRC Wealth Management LLC bought a new stake in Las Vegas Sands during the 1st quarter valued at about $29,000. Retirement Group LLC bought a new stake in shares of Las Vegas Sands in the fourth quarter worth approximately $31,000. Ameritas Advisory Services LLC bought a new stake in shares of Las Vegas Sands in the first quarter worth approximately $32,000. Parkside Financial Bank & Trust grew its stake in shares of Las Vegas Sands by 123.7% in the first quarter. Parkside Financial Bank & Trust now owns 671 shares of the casino operator’s stock worth $39,000 after acquiring an additional 371 shares during the period. Finally, Dark Forest Capital Management LP grew its stake in shares of Las Vegas Sands by 83,900.0% in the first quarter. Dark Forest Capital Management LP now owns 840 shares of the casino operator’s stock worth $48,000 after acquiring an additional 839 shares during the period. 39.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Las Vegas Sands in a research note on Thursday, October 5th. They issued a “hold” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of Las Vegas Sands from $71.00 to $64.00 in a research note on Tuesday, September 26th. Wells Fargo & Company reduced their price target on shares of Las Vegas Sands from $71.00 to $69.00 and set an “overweight” rating for the company in a research note on Thursday, July 20th. Stifel Nicolaus lifted their price target on shares of Las Vegas Sands from $73.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th. Finally, Morgan Stanley cut their target price on shares of Las Vegas Sands from $70.00 to $69.00 and set an “overweight” rating for the company in a research report on Tuesday, September 12th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Las Vegas Sands currently has a consensus rating of “Moderate Buy” and an average target price of $70.12.

Check Out Our Latest Stock Analysis on LVS

Las Vegas Sands Price Performance

LVS stock opened at $46.32 on Wednesday. Las Vegas Sands Corp. has a one year low of $33.38 and a one year high of $65.58. The company’s fifty day moving average price is $51.11 and its 200-day moving average price is $56.00. The company has a debt-to-equity ratio of 3.57, a quick ratio of 2.75 and a current ratio of 2.76. The company has a market capitalization of $35.41 billion, a PE ratio of 661.71, a price-to-earnings-growth ratio of 5.13 and a beta of 1.22.

Las Vegas Sands (NYSE:LVS – Get Free Report) last released its earnings results on Wednesday, July 19th. The casino operator reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. Las Vegas Sands had a net margin of 0.75% and a return on equity of 5.73%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. The company’s quarterly revenue was up 143.3% compared to the same quarter last year. On average, equities analysts anticipate that Las Vegas Sands Corp. will post 1.87 EPS for the current fiscal year.

Las Vegas Sands Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Tuesday, August 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, August 7th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 1,142.86%.

Las Vegas Sands Profile

(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.