Hartford Investment Management Co. Reduces Holdings in Las Vegas Sands Corp. (NYSE:LVS)
Hartford Investment Management Co. lessened its position in shares of Las Vegas Sands Corp. (NYSE:LVS – Get Rating) by 6.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,323 shares of the casino operator’s stock after selling 2,280 shares during the period. Hartford Investment Management Co.’s holdings in Las Vegas Sands were worth $1,256,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mizuho Securities Co. Ltd. purchased a new position in shares of Las Vegas Sands during the 1st quarter valued at $39,000. Desjardins Global Asset Management Inc. purchased a new stake in Las Vegas Sands during the 4th quarter worth about $40,000. Confluence Wealth Services Inc. purchased a new stake in Las Vegas Sands during the 4th quarter worth about $40,000. Bessemer Group Inc. lifted its holdings in Las Vegas Sands by 54.7% during the 4th quarter. Bessemer Group Inc. now owns 1,142 shares of the casino operator’s stock worth $43,000 after purchasing an additional 404 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Las Vegas Sands by 140.2% during the 4th quarter. First Horizon Advisors Inc. now owns 1,554 shares of the casino operator’s stock worth $57,000 after purchasing an additional 907 shares in the last quarter. 34.33% of the stock is currently owned by hedge funds and other institutional investors.
LVS opened at $35.28 on Tuesday. The stock’s 50 day simple moving average is $33.78 and its 200 day simple moving average is $37.98. The company has a debt-to-equity ratio of 3.19, a current ratio of 3.14 and a quick ratio of 3.13. Las Vegas Sands Corp. has a 1 year low of $28.88 and a 1 year high of $53.25. The firm has a market cap of $26.96 billion, a price-to-earnings ratio of 14.64 and a beta of 1.24.Las Vegas Sands (NYSE:LVS – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The casino operator reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Las Vegas Sands had a negative return on equity of 33.07% and a net margin of 46.40%. The company had revenue of $943.00 million for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the business earned ($0.25) earnings per share. Las Vegas Sands’s revenue was down 21.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Las Vegas Sands Corp. will post -0.68 EPS for the current year.
Several analysts have weighed in on LVS shares. UBS Group set a $42.00 price target on Las Vegas Sands in a report on Monday, June 20th. Barclays started coverage on Las Vegas Sands in a report on Tuesday, June 28th. They issued an “overweight” rating and a $39.00 price target on the stock. StockNews.com raised Las Vegas Sands to a “sell” rating in a report on Tuesday, May 10th. Stifel Nicolaus lowered their price target on Las Vegas Sands from $56.00 to $46.00 in a report on Thursday, April 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Las Vegas Sands from $60.00 to $53.00 in a report on Thursday, April 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $48.46.
Las Vegas Sands Profile (Get Rating)
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 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.
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