Envestnet Asset Management Inc. Sells 38,004 Shares of Las Vegas Sands Corp. $LVS

Envestnet Asset Management Inc. lessened its stake in Las Vegas Sands Corp. (NYSE:LVS) by 30.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,114 shares of the casino operator’s stock after selling 38,004 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Las Vegas Sands were worth $4,740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Westside Investment Management Inc. boosted its stake in Las Vegas Sands by 48.0% in the 3rd quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator’s stock worth $28,000 after purchasing an additional 166 shares during the period. Allianz Asset Management GmbH increased its position in shares of Las Vegas Sands by 358.4% in the third quarter. Allianz Asset Management GmbH now owns 227,278 shares of the casino operator’s stock valued at $12,225,000 after acquiring an additional 177,695 shares during the last quarter. Callan Family Office LLC raised its stake in shares of Las Vegas Sands by 10.3% during the 3rd quarter. Callan Family Office LLC now owns 5,677 shares of the casino operator’s stock worth $305,000 after purchasing an additional 531 shares in the last quarter. Jones Financial Companies Lllp raised its position in Las Vegas Sands by 2.9% during the third quarter. Jones Financial Companies Lllp now owns 11,247 shares of the casino operator’s stock worth $607,000 after acquiring an additional 314 shares in the last quarter. Finally, National Pension Service bought a new stake in shares of Las Vegas Sands in the 3rd quarter valued at about $1,262,000. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LVS. Weiss Ratings restated a “hold (c+)” rating on shares of Las Vegas Sands in a research note on Monday, December 29th. HSBC lifted their price objective on Las Vegas Sands from $67.50 to $73.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Jefferies Financial Group reduced their price target on shares of Las Vegas Sands from $78.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Citigroup boosted their target price on Las Vegas Sands from $75.50 to $76.75 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Morgan Stanley set a $66.00 price objective on Las Vegas Sands in a report on Wednesday, February 11th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Las Vegas Sands has a consensus rating of “Moderate Buy” and an average price target of $68.55.

Insider Activity

In other news, major shareholder Miriam Adelson sold 77,991 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $67.56, for a total value of $5,269,071.96. Following the sale, the insider directly owned 23,333,441 shares of the company’s stock, valued at $1,576,407,273.96. This represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Irwin Chafetz sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $69.76, for a total value of $2,092,800.00. Following the transaction, the director directly owned 70,949 shares of the company’s stock, valued at approximately $4,949,402.24. This trade represents a 29.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,082,053 shares of company stock worth $207,130,199. 1.20% of the stock is currently owned by corporate insiders.

Las Vegas Sands Stock Performance

NYSE LVS opened at $57.97 on Monday. The company has a market capitalization of $38.95 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The company has a 50-day simple moving average of $60.93 and a 200 day simple moving average of $58.84. The company has a debt-to-equity ratio of 7.58, a quick ratio of 1.13 and a current ratio of 1.14. Las Vegas Sands Corp. has a 52-week low of $30.18 and a 52-week high of $70.45.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, January 28th. The casino operator reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.08. Las Vegas Sands had a return on equity of 91.40% and a net margin of 12.50%.The firm had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The company’s revenue was up 26.0% on a year-over-year basis. On average, research analysts predict that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Monday, February 9th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, February 9th. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. This is an increase from Las Vegas Sands’s previous quarterly dividend of $0.25. Las Vegas Sands’s dividend payout ratio (DPR) is currently 51.28%.

Las Vegas Sands Profile

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.