Envestnet Asset Management Inc. Sells 49,179 Shares of Las Vegas Sands Corp. $LVS

Envestnet Asset Management Inc. lessened its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 28.1% in the second quarter, Holdings Channel.com reports. The firm owned 126,118 shares of the casino operator’s stock after selling 49,179 shares during the period. Envestnet Asset Management Inc.’s holdings in Las Vegas Sands were worth $5,487,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted 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 valued at $38,000 after buying an additional 239 shares in the last quarter. Harbour Investments Inc. raised its holdings in Las Vegas Sands by 21.4% during the 2nd quarter. Harbour Investments Inc. now owns 1,401 shares of the casino operator’s stock valued at $61,000 after acquiring an additional 247 shares during the period. Wealthfront Advisers LLC raised its holdings in Las Vegas Sands by 1.5% during the 2nd quarter. Wealthfront Advisers LLC now owns 18,189 shares of the casino operator’s stock valued at $791,000 after acquiring an additional 273 shares during the period. UMB Bank n.a. lifted its position in shares of Las Vegas Sands by 53.8% during the second quarter. UMB Bank n.a. now owns 1,361 shares of the casino operator’s stock worth $59,000 after acquiring an additional 476 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings 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 acquiring an additional 488 shares during the period. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Stifel Nicolaus boosted their price objective on Las Vegas Sands from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Las Vegas Sands in a report on Wednesday, October 8th. Argus increased their price target on shares of Las Vegas Sands from $60.00 to $65.00 in a report on Tuesday, September 23rd. Susquehanna raised their price objective on shares of Las Vegas Sands from $62.00 to $63.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Finally, Zacks Research raised shares of Las Vegas Sands from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.13.

Las Vegas Sands Stock Down 0.7%

LVS stock opened at $66.49 on Thursday. The company’s 50 day moving average is $55.05 and its 200 day moving average is $49.55. The stock has a market cap of $44.96 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03. The company has a current ratio of 0.89, a quick ratio of 1.21 and a debt-to-equity ratio of 7.42. Las Vegas Sands Corp. has a 1-year low of $30.18 and a 1-year high of $67.83.

Las Vegas Sands (NYSE:LVS) last released its quarterly 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 business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations 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 company earned $0.44 EPS. Sell-side analysts predict that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Tuesday, November 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.5%. Las Vegas Sands’s payout ratio is 45.25%.

Insiders Place Their Bets

In other news, CEO Robert G. Goldstein sold 700,000 shares of the company’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $58.88, for a total value of $41,216,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP D. Zachary Hudson sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $64.99, for a total value of $6,499,000.00. Following the transaction, the executive vice president directly owned 13,735 shares in the company, valued at approximately $892,637.65. This represents a 87.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,100,000 shares of company stock worth $126,218,200. 1.20% of the stock is owned by insiders.

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.