Bank of Nova Scotia lowered its position in Las Vegas Sands Corp. (NYSE:LVS – Get Rating) by 51.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,321 shares of the casino operator’s stock after selling 29,688 shares during the period. Bank of Nova Scotia’s holdings in Las Vegas Sands were worth $951,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. State of Michigan Retirement System grew its position in Las Vegas Sands by 0.3% during the first quarter. State of Michigan Retirement System now owns 86,801 shares of the casino operator’s stock valued at $3,374,000 after buying an additional 280 shares during the period. Sumitomo Life Insurance Co. grew its position in Las Vegas Sands by 3.4% during the second quarter. Sumitomo Life Insurance Co. now owns 11,172 shares of the casino operator’s stock valued at $375,000 after buying an additional 372 shares during the period. Hartford Investment Management Co. grew its position in Las Vegas Sands by 1.4% during the second quarter. Hartford Investment Management Co. now owns 32,763 shares of the casino operator’s stock valued at $1,101,000 after buying an additional 440 shares during the period. Toroso Investments LLC grew its position in Las Vegas Sands by 5.2% during the first quarter. Toroso Investments LLC now owns 9,348 shares of the casino operator’s stock valued at $363,000 after buying an additional 458 shares during the period. Finally, Clearstead Advisors LLC grew its position in Las Vegas Sands by 43.0% during the first quarter. Clearstead Advisors LLC now owns 1,527 shares of the casino operator’s stock valued at $59,000 after buying an additional 459 shares during the period. Hedge funds and other institutional investors own 39.84% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on LVS shares. StockNews.com started coverage on shares of Las Vegas Sands in a research report on Wednesday, October 12th. They set a “sell” rating for the company. Citigroup increased their target price on shares of Las Vegas Sands from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 20th. Bank of America upgraded shares of Las Vegas Sands from an “underperform” rating to a “neutral” rating and set a $37.00 target price for the company in a research report on Thursday, October 13th. Finally, Jefferies Financial Group upgraded shares of Las Vegas Sands from a “hold” rating to a “buy” rating in a research report on Monday, September 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.
Las Vegas Sands Trading Down 1.5 %
Las Vegas Sands (NYSE:LVS – Get Rating) last announced its earnings results on Wednesday, October 19th. The casino operator reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Las Vegas Sands had a net margin of 46.94% and a negative return on equity of 25.33%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.45) earnings per share. Sell-side analysts forecast that Las Vegas Sands Corp. will post -1.19 earnings per share for the current fiscal year.
Las Vegas Sands Profile
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, 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.
- Get a free copy of the StockNews.com research report on Las Vegas Sands (LVS)
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