Aspex Management HK Ltd purchased a new position in shares of Las Vegas Sands Corp. (NYSE:LVS) during the third quarter, Holdings Channel.com reports. The fund purchased 2,526,568 shares of the casino operator’s stock, valued at approximately $117,890,000. Las Vegas Sands makes up approximately 7.6% of Aspex Management HK Ltd’s holdings, making the stock its 5th biggest position.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of Hawaii acquired a new stake in shares of Las Vegas Sands in the third quarter valued at about $687,000. Great West Life Assurance Co. Can grew its holdings in shares of Las Vegas Sands by 336.4% in the third quarter. Great West Life Assurance Co. Can now owns 835,025 shares of the casino operator’s stock valued at $9,633,000 after acquiring an additional 643,697 shares in the last quarter. AXA S.A. grew its holdings in shares of Las Vegas Sands by 4.3% in the third quarter. AXA S.A. now owns 396,679 shares of the casino operator’s stock valued at $18,509,000 after acquiring an additional 16,287 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Las Vegas Sands by 14.4% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,127 shares of the casino operator’s stock valued at $2,712,000 after acquiring an additional 7,300 shares in the last quarter. Finally, MUFG Securities EMEA plc grew its holdings in shares of Las Vegas Sands by 197.9% in the third quarter. MUFG Securities EMEA plc now owns 90,245 shares of the casino operator’s stock valued at $4,211,000 after acquiring an additional 59,953 shares in the last quarter. 36.45% of the stock is currently owned by hedge funds and other institutional investors.
LVS stock traded down $1.50 during mid-day trading on Monday, reaching $55.09. 49,530 shares of the company traded hands, compared to its average volume of 6,748,439. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.31 and a quick ratio of 1.30. The company has a market capitalization of $43.23 billion, a P/E ratio of -57.16 and a beta of 1.32. Las Vegas Sands Corp. has a 52-week low of $33.30 and a 52-week high of $74.29. The company has a fifty day moving average price of $51.34 and a 200-day moving average price of $48.78.
Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, October 21st. The casino operator reported ($0.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.23). The company had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $633.36 million. Las Vegas Sands had a negative net margin of 12.67% and a negative return on equity of 12.97%. During the same period in the previous year, the firm earned $0.75 EPS. As a group, analysts forecast that Las Vegas Sands Corp. will post -2.02 EPS for the current year.
Several equities analysts have recently issued reports on LVS shares. Deutsche Bank Aktiengesellschaft reduced their target price on Las Vegas Sands from $60.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, October 20th. Stifel Nicolaus dropped their price objective on Las Vegas Sands from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Union Gaming Research downgraded Las Vegas Sands from a “buy” rating to a “hold” rating and dropped their price objective for the company from $54.00 to $50.00 in a research note on Monday, October 19th. UBS Group upped their price objective on Las Vegas Sands from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. Finally, Morgan Stanley upped their price objective on Las Vegas Sands from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $55.00.
Las Vegas Sands Company Profile
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 Marina Bay Sands in Singapore.
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