M&T Bank Corp Cuts Holdings in Las Vegas Sands Corp. (NYSE:LVS)

M&T Bank Corp decreased its holdings in Las Vegas Sands Corp. (NYSE:LVS) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,099 shares of the casino operator’s stock after selling 402 shares during the period. M&T Bank Corp’s holdings in Las Vegas Sands were worth $760,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CVA Family Office LLC increased its holdings in Las Vegas Sands by 118.8% in the 3rd quarter. CVA Family Office LLC now owns 560 shares of the casino operator’s stock worth $28,000 after buying an additional 304 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Las Vegas Sands in the third quarter worth approximately $34,000. Capital Performance Advisors LLP purchased a new position in shares of Las Vegas Sands during the third quarter valued at approximately $43,000. GAMMA Investing LLC lifted its position in Las Vegas Sands by 40.1% during the third quarter. GAMMA Investing LLC now owns 849 shares of the casino operator’s stock valued at $43,000 after purchasing an additional 243 shares during the period. Finally, Vestor Capital LLC bought a new position in Las Vegas Sands during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. UBS Group boosted their target price on shares of Las Vegas Sands from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Stifel Nicolaus increased their target price on Las Vegas Sands from $55.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their price target on Las Vegas Sands from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. increased their price objective on shares of Las Vegas Sands from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Susquehanna boosted their target price on shares of Las Vegas Sands from $51.00 to $59.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.42.

Insider Buying and Selling at Las Vegas Sands

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 24,324 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $52.00, for a total transaction of $1,264,848.00. Following the completion of the transaction, the chief executive officer now owns 60,187 shares of the company’s stock, valued at $3,129,724. This represents a 28.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert G. Goldstein sold 60,187 shares of Las Vegas Sands stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $53.02, for a total value of $3,191,114.74. The disclosure for this sale can be found here. Insiders sold a total of 203,732 shares of company stock valued at $10,861,707 in the last three months. 0.91% of the stock is currently owned by corporate insiders.

Las Vegas Sands Stock Down 2.6 %

LVS opened at $52.48 on Tuesday. The stock has a market cap of $38.05 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.89 and a current ratio of 0.90. The firm’s fifty day moving average is $51.83 and its 200 day moving average is $45.69. Las Vegas Sands Corp. has a fifty-two week low of $36.62 and a fifty-two week high of $56.60.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, October 23rd. The casino operator reported $0.44 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.09). Las Vegas Sands had a net margin of 13.29% and a return on equity of 44.26%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Las Vegas Sands’s revenue was down 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Las Vegas Sands Corp. will post 2.33 earnings per share for the current fiscal year.

Las Vegas Sands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Tuesday, November 5th were paid a $0.20 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.80 annualized dividend and a yield of 1.52%. Las Vegas Sands’s payout ratio is 39.60%.

About Las Vegas Sands

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.