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

CIBC Asset Management Inc boosted its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,486 shares of the casino operator’s stock after acquiring an additional 3,217 shares during the quarter. CIBC Asset Management Inc’s holdings in Las Vegas Sands were worth $3,196,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LVS. Vanguard Group Inc. boosted its stake in shares of Las Vegas Sands by 0.6% during the first quarter. Vanguard Group Inc. now owns 37,107,775 shares of the casino operator’s stock valued at $1,918,472,000 after purchasing an additional 209,589 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Las Vegas Sands by 7.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 211,320 shares of the casino operator’s stock valued at $10,929,000 after buying an additional 15,216 shares during the period. Clearbridge Investments LLC grew its stake in Las Vegas Sands by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 641,682 shares of the casino operator’s stock worth $33,175,000 after acquiring an additional 12,500 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Las Vegas Sands by 7,647.7% during the second quarter. Assenagon Asset Management S.A. now owns 443,325 shares of the casino operator’s stock worth $19,617,000 after acquiring an additional 437,603 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of Las Vegas Sands during the second quarter valued at approximately $619,000. Institutional investors own 39.16% of the company’s stock.

Insider Buying and Selling at Las Vegas Sands

In other news, CEO Robert G. Goldstein sold 119,221 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $53.73, for a total value of $6,405,744.33. Following the transaction, the chief executive officer now directly owns 84,511 shares of the company’s stock, valued at approximately $4,540,776.03. This represents a 58.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.91% of the stock is currently owned by company insiders.

Las Vegas Sands Stock Up 2.5 %

Las Vegas Sands stock opened at $49.14 on Tuesday. Las Vegas Sands Corp. has a 1-year low of $36.62 and a 1-year high of $55.65. The business has a fifty day moving average price of $48.91 and a 200-day moving average price of $44.75. The company has a debt-to-equity ratio of 3.09, a current ratio of 0.90 and a quick ratio of 0.89. The stock has a market capitalization of $35.63 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.26 and a beta of 1.11.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the business posted $0.55 EPS. Las Vegas Sands’s revenue was down 4.0% compared to the same quarter last year. Equities research analysts forecast that Las Vegas Sands Corp. will post 2.33 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

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

Wall Street Analyst Weigh In

LVS has been the topic of several research analyst reports. UBS Group increased their price objective on Las Vegas Sands from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price target on Las Vegas Sands from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Macquarie decreased their price objective on Las Vegas Sands from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Susquehanna increased their target price on shares of Las Vegas Sands from $51.00 to $59.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Finally, Mizuho boosted their price target 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. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Las Vegas Sands currently has a consensus rating of “Moderate Buy” and a consensus target price 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.