Seaport Global Securities Cuts Las Vegas Sands (NYSE:LVS) Price Target to $72.00

Las Vegas Sands (NYSE:LVS) had its target price reduced by equities research analysts at Seaport Global Securities from $75.00 to $72.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the casino operator’s stock. Seaport Global Securities’ price target suggests a potential upside of 19.04% from the stock’s current price.

LVS has been the subject of several other research reports. Barclays raised their price objective on Las Vegas Sands from $59.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Zacks Research downgraded shares of Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. JPMorgan Chase & Co. raised their target price on shares of Las Vegas Sands from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Argus upped their price objective on Las Vegas Sands from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, Morgan Stanley boosted their target price on Las Vegas Sands from $59.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.52.

Las Vegas Sands Stock Up 1.0%

Shares of LVS traded up $0.59 during midday trading on Wednesday, hitting $60.49. The stock had a trading volume of 6,026,150 shares, compared to its average volume of 6,386,704. The company has a debt-to-equity ratio of 7.42, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market cap of $40.90 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.45 and a beta of 0.97. The company has a 50 day simple moving average of $65.38 and a two-hundred day simple moving average of $57.27. Las Vegas Sands has a twelve month low of $30.18 and a twelve month high of $70.45.

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

Insider Buying and Selling

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 1,198,650 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $66.68, for a total transaction of $79,925,982.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Patrick Dumont sold 135,603 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $67.96, for a total transaction of $9,215,579.88. Following the completion of the transaction, the chief operating officer directly owned 446,608 shares in the company, valued at approximately $30,351,479.68. This represents a 23.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,182,053 shares of company stock valued at $333,348,399 over the last quarter. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Las Vegas Sands

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Las Vegas Sands by 8.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,251 shares of the casino operator’s stock worth $1,207,000 after buying an additional 2,418 shares during the last quarter. Woodline Partners LP lifted its position in shares of Las Vegas Sands by 38.9% during the 1st quarter. Woodline Partners LP now owns 29,032 shares of the casino operator’s stock valued at $1,122,000 after buying an additional 8,132 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Las Vegas Sands by 27.4% in the second quarter. Parallel Advisors LLC now owns 2,272 shares of the casino operator’s stock worth $99,000 after purchasing an additional 488 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Las Vegas Sands by 37.5% during the second 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 in the last quarter. Finally, Czech National Bank lifted its holdings in Las Vegas Sands by 5.0% during the 2nd quarter. Czech National Bank now owns 82,905 shares of the casino operator’s stock worth $3,607,000 after purchasing an additional 3,977 shares in the last quarter. Institutional investors and hedge funds own 39.16% of the company’s stock.

Las Vegas Sands Company 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.