Robert Goldstein Sells 360,000 Shares of Las Vegas Sands (NYSE:LVS) Stock

Las Vegas Sands Corp. (NYSE:LVS) CEO Robert Goldstein sold 360,000 shares of Las Vegas Sands stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $63.05, for a total transaction of $22,698,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Las Vegas Sands Trading Up 3.7%

NYSE LVS traded up $2.34 during trading hours on Friday, hitting $65.13. The company’s stock had a trading volume of 6,104,280 shares, compared to its average volume of 5,620,943. Las Vegas Sands Corp. has a twelve month low of $30.18 and a twelve month high of $65.55. The firm has a market capitalization of $44.04 billion, a P/E ratio of 29.47, a PEG ratio of 1.62 and a beta of 1.03. The company has a quick ratio of 1.21, a current ratio of 0.89 and a debt-to-equity ratio of 7.42. The stock has a fifty day moving average of $54.31 and a 200 day moving average of $48.57.

Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, October 22nd. The casino operator reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.16. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.04 billion. Las Vegas Sands had a net margin of 12.69% and a return on equity of 73.14%. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. Equities research analysts forecast that Las Vegas Sands Corp. will post 2.6 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Tuesday, November 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, November 4th. Las Vegas Sands’s dividend payout ratio is currently 45.25%.

Institutional Trading of Las Vegas Sands

Several hedge funds and other institutional investors have recently modified their holdings of LVS. Total Investment Management Inc. acquired a new position in Las Vegas Sands during the 2nd quarter worth approximately $25,000. Westside Investment Management Inc. increased its stake in shares of Las Vegas Sands by 48.0% during 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 last quarter. Root Financial Partners LLC bought a new position in Las Vegas Sands during the third quarter worth about $33,000. Smartleaf Asset Management LLC raised its stake in Las Vegas Sands by 549.5% in the third quarter. Smartleaf Asset Management LLC now owns 630 shares of the casino operator’s stock valued at $35,000 after buying an additional 533 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Las Vegas Sands by 37.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator’s stock worth $38,000 after acquiring an additional 239 shares during the period. Institutional investors and hedge funds own 39.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LVS. The Goldman Sachs Group raised their target price on Las Vegas Sands from $57.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. JPMorgan Chase & Co. boosted their price objective on shares of Las Vegas Sands from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Stifel Nicolaus upped their target price on shares of Las Vegas Sands from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Argus lifted their price target on shares of Las Vegas Sands from $60.00 to $65.00 in a research report on Tuesday, September 23rd. Finally, Mizuho upped their price objective on shares of Las Vegas Sands from $56.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.13.

Las Vegas Sands Company Profile

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.