Parallel Advisors LLC reduced its stake in Las Vegas Sands Corp. (NYSE: LVS – Get a rating) by 26.7% in the 1st quarter, Participation channel reports. The company held 1,683 shares of the casino operator after selling 612 shares during the period. Parallel Advisors LLC’s holdings in Las Vegas Sands were worth $67,000 when it last filed with the SEC.
Other hedge funds have also recently changed their holdings in the company. Mizuho Securities Co.Ltd. bought a new position in Las Vegas Sands stock in the first quarter worth $39,000. Desjardins Global Asset Management Inc. acquired a new position in Las Vegas Sands stock in the fourth quarter worth $40,000. Confluence Wealth Services Inc. bought a new equity stake in Las Vegas Sands in the fourth quarter for $40,000. Bessemer Group Inc. increased its holdings of Las Vegas Sands shares by 54.7% in the fourth quarter. Bessemer Group Inc. now owns 1,142 shares of the casino operator worth $43,000 after acquiring an additional 404 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings of Las Vegas Sands shares by 140.2% in the fourth quarter. First Horizon Advisors Inc. now owns 1,554 shares of the casino operator worth $57,000 after acquiring 907 additional shares during the period. Hedge funds and other institutional investors hold 34.33% of the company’s shares.
Las Vegas Sands Stock Performance
NYSE LVS opened at $38.99 on Friday. The company has a market capitalization of $29.79 billion, a price-earnings ratio of 17.10 and a beta of 1.24. The company has a quick ratio of 3.13, a current ratio of 3.14 and a leverage ratio of 3.19. The company has a 50-day moving average price of $34.05 and a 200-day moving average price of $37.74. Las Vegas Sands Corp. has a 12-month low of $28.88 and a 12-month high of $48.27.
Las Vegas Sands (NYSE: LVS – Get a rating) last released its quarterly earnings data on Wednesday, July 20. The casino operator reported ($0.34) earnings per share for the quarter, missing analyst consensus estimates of ($0.29) by ($0.05). The company posted revenue of $1.05 billion in the quarter, versus a consensus estimate of $949.40 million. Las Vegas Sands had a negative return on equity of 34.73% and a net margin of 45.39%. The company’s revenue was down 10.9% year over year. During the same period last year, the company achieved EPS of ($0.26). As a group, equity research analysts predict that Las Vegas Sands Corp. will show -0.82 BPA for the current fiscal year.
Analysts set new price targets
Several analysts have recently commented on the company. Stifel Nicolaus raised his price target on Las Vegas Sands from $46.00 to $50.00 in a report on Thursday. Morgan Stanley cut its price target on Las Vegas Sands from $44.00 to $39.00 and set an “equal weight” rating for the company in a Monday, April 25 report. StockNews.com elevated Las Vegas Sands to a “sell” rating in a Tuesday, May 10, report. Citigroup raised its price target on Las Vegas Sands from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Barclays raised its price target on Las Vegas Sands from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday. Two analysts rated the stock with a sell rating, three gave the company a hold rating, eight gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.38.
About Las Vegas Sands
Las Vegas Sands Corp., together with its subsidiaries, develops, owns and operates integrated resorts in Asia and the United States. It owns and operates the Venetian Macao Resort Hotel, Londoner Macao, Parisian Macao, Plaza Macao and Four Seasons Hotel Macao, Cotai Strip and Sands Macao in Macao, People’s Republic of China; and Marina Bay Sands in Singapore.
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