Franklin Resources Inc. decreased its position in Las Vegas Sands Corp. (NYSE:LVS – Get Rating) by 11.7% during the 4th quarter, Holdings Channel reports. The firm owned 1,987,941 shares of the casino operator’s stock after selling 263,235 shares during the quarter. Franklin Resources Inc.’s holdings in Las Vegas Sands were worth $95,560,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Hollencrest Capital Management bought a new stake in shares of Las Vegas Sands in the 4th quarter worth about $32,000. James Investment Research Inc. bought a new stake in shares of Las Vegas Sands in the 4th quarter worth about $39,000. EverSource Wealth Advisors LLC grew its holdings in shares of Las Vegas Sands by 42.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,076 shares of the casino operator’s stock worth $40,000 after purchasing an additional 319 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in Las Vegas Sands during the 4th quarter worth about $52,000. Finally, Cowa LLC acquired a new position in Las Vegas Sands during the 3rd quarter worth about $49,000. Institutional investors own 39.75% of the company’s stock.
Insider Buying and Selling
In related 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 sale, the director now directly owns 205,984 shares of the company’s stock, valued at approximately $13,012,009.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.91% of the stock is owned by company insiders.
Las Vegas Sands Stock Down 0.1 %
Las Vegas Sands (NYSE:LVS – Get Rating) last announced its quarterly earnings results on Wednesday, April 19th. The casino operator reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Las Vegas Sands had a negative return on equity of 10.21% and a negative net margin of 10.42%. Las Vegas Sands’s revenue was up 124.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.40) EPS. Analysts anticipate that Las Vegas Sands Corp. will post 1.82 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on LVS shares. Wells Fargo & Company upped their price target on shares of Las Vegas Sands from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, April 13th. Barclays upped their price target on shares of Las Vegas Sands from $64.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, April 20th. Credit Suisse Group upped their price target on shares of Las Vegas Sands from $62.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, April 20th. Bank of America upped their price target on shares of Las Vegas Sands from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, April 20th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Las Vegas Sands from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, April 20th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $68.54.
Las Vegas Sands Profile
Las Vegas Sands Corp. engages in the development of destination properties. The firm operates through the Macao and Singapore geographical segments. The Macao segment handles the operations of The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Macao, and Sands Macao.
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