Las Vegas Sands (NYSE:LVS) Shares Gap Down on Insider Selling

Shares of Las Vegas Sands Corp. (NYSE:LVS) gapped down before the market opened on Tuesday after an insider sold shares in the company. The stock had previously closed at $61.21, but opened at $59.64. Las Vegas Sands shares last traded at $59.11, with a volume of 5,433,096 shares.

Specifically, EVP Lawrence A. Jacobs sold 66,667 shares of Las Vegas Sands stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $60.16, for a total transaction of $4,010,686.72. Following the sale, the executive vice president now owns 66,667 shares of the company’s stock, valued at $4,010,686.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 10.50% of the company’s stock.

Several equities analysts recently weighed in on LVS shares. Argus lowered shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. Zacks Investment Research upgraded shares of Las Vegas Sands from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Wednesday, May 22nd. JPMorgan Chase & Co. cut their price objective on shares of Las Vegas Sands from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Morgan Stanley cut their price objective on shares of Las Vegas Sands from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Goldman Sachs Group upgraded shares of Las Vegas Sands to a “buy” rating in a report on Tuesday, June 11th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $67.23.

The company’s fifty day simple moving average is $55.86 and its two-hundred day simple moving average is $60.29. The company has a quick ratio of 1.62, a current ratio of 1.64 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $45.68 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 7.80 and a beta of 1.60.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, July 24th. The casino operator reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.09). Las Vegas Sands had a return on equity of 35.77% and a net margin of 14.01%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the company earned $0.76 EPS. The firm’s revenue was up .9% on a year-over-year basis. Equities research analysts expect that Las Vegas Sands Corp. will post 3.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Wednesday, September 18th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Tuesday, September 17th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 92.77%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Las Vegas Sands by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 22,610,132 shares of the casino operator’s stock valued at $1,336,033,000 after acquiring an additional 102,810 shares during the period. BlackRock Inc. grew its position in shares of Las Vegas Sands by 3.7% in the 2nd quarter. BlackRock Inc. now owns 18,516,990 shares of the casino operator’s stock valued at $1,094,168,000 after acquiring an additional 664,769 shares during the period. Boston Partners grew its position in shares of Las Vegas Sands by 16.5% in the 2nd quarter. Boston Partners now owns 6,063,064 shares of the casino operator’s stock valued at $358,510,000 after acquiring an additional 858,697 shares during the period. Geode Capital Management LLC grew its position in shares of Las Vegas Sands by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 3,215,580 shares of the casino operator’s stock valued at $167,354,000 after acquiring an additional 87,729 shares during the period. Finally, Northern Trust Corp grew its position in shares of Las Vegas Sands by 8.0% in the 1st quarter. Northern Trust Corp now owns 2,775,407 shares of the casino operator’s stock valued at $169,188,000 after acquiring an additional 206,270 shares during the period. 36.29% of the stock is owned by institutional investors.

About Las Vegas Sands (NYSE:LVS)

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 Sands Cotai Central, 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 iconic Marina Bay Sands in Singapore.

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