Allspring Global Investments Holdings LLC Boosts Holdings in Las Vegas Sands Corp. (NYSE:LVS)

Allspring Global Investments Holdings LLC lifted its stake in shares of Las Vegas Sands Corp. (NYSE:LVSGet Rating) by 56.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,938 shares of the casino operator’s stock after buying an additional 16,140 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Las Vegas Sands were worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Retirement Group LLC grew its position in shares of Las Vegas Sands by 100.0% during the second quarter. Retirement Group LLC now owns 1,310 shares of the casino operator’s stock worth $44,000 after buying an additional 655 shares in the last quarter. Ronald Blue Trust Inc. acquired a new position in Las Vegas Sands in the second quarter worth $53,000. Disciplined Equity Management Inc. acquired a new position in Las Vegas Sands in the second quarter worth $68,000. Worm Capital LLC acquired a new position in Las Vegas Sands in the second quarter worth $87,000. Finally, First Horizon Advisors Inc. boosted its holdings in Las Vegas Sands by 1,308.9% in the second quarter. First Horizon Advisors Inc. now owns 3,170 shares of the casino operator’s stock worth $107,000 after purchasing an additional 2,945 shares during the period. Institutional investors and hedge funds own 39.75% of the company’s stock.

Las Vegas Sands Price Performance

Shares of NYSE LVS opened at $54.57 on Friday. Las Vegas Sands Corp. has a fifty-two week low of $28.88 and a fifty-two week high of $55.34. The firm’s 50-day simple moving average is $48.09 and its 200 day simple moving average is $41.26. The company has a quick ratio of 1.82, a current ratio of 1.83 and a debt-to-equity ratio of 3.64. The stock has a market cap of $41.70 billion, a P/E ratio of 22.27 and a beta of 1.12.

Las Vegas Sands (NYSE:LVSGet Rating) last issued its quarterly earnings data on Wednesday, October 19th. The casino operator reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.07). Las Vegas Sands had a net margin of 46.94% and a negative return on equity of 25.33%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned ($0.45) earnings per share. Las Vegas Sands’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts expect that Las Vegas Sands Corp. will post -1.19 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on LVS. CICC Research began coverage on shares of Las Vegas Sands in a report on Thursday, November 24th. They issued an “outperform” rating for the company. Jefferies Financial Group raised shares of Las Vegas Sands from a “hold” rating to a “buy” rating in a report on Monday, September 26th. Wells Fargo & Company lifted their price objective on shares of Las Vegas Sands from $45.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Morgan Stanley lifted their price objective on shares of Las Vegas Sands from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, StockNews.com started coverage on Las Vegas Sands in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Las Vegas Sands presently has a consensus rating of “Moderate Buy” and an average price target of $51.55.

Las Vegas Sands Profile

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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.

See Also

Institutional Ownership by Quarter for Las Vegas Sands (NYSE:LVS)

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