PNC Financial Services Group Inc. Sells 2,691 Shares of Las Vegas Sands Corp. (NYSE:LVS)

PNC Financial Services Group Inc. lessened its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 9.0% in the third quarter, HoldingsChannel.com reports. The firm owned 27,171 shares of the casino operator’s stock after selling 2,691 shares during the period. PNC Financial Services Group Inc.’s holdings in Las Vegas Sands were worth $1,368,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its position in shares of Las Vegas Sands by 13.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 9,494 shares of the casino operator’s stock valued at $491,000 after buying an additional 1,125 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Las Vegas Sands by 2.1% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 53,216 shares of the casino operator’s stock worth $2,751,000 after acquiring an additional 1,106 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Las Vegas Sands by 19.0% in the 1st quarter. Tidal Investments LLC now owns 17,103 shares of the casino operator’s stock worth $884,000 after acquiring an additional 2,736 shares in the last quarter. Comerica Bank raised its holdings in shares of Las Vegas Sands by 1.6% in the first quarter. Comerica Bank now owns 61,758 shares of the casino operator’s stock valued at $3,193,000 after purchasing an additional 959 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Las Vegas Sands during the first quarter valued at about $734,000. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Las Vegas Sands Price Performance

NYSE LVS opened at $50.91 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 3.09. The company has a market cap of $36.91 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. Las Vegas Sands Corp. has a 52 week low of $36.62 and a 52 week high of $55.65. The firm’s 50-day simple moving average is $50.14 and its two-hundred day simple moving average is $44.90.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, October 23rd. The casino operator reported $0.44 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. Research analysts predict that Las Vegas Sands Corp. will post 2.33 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Tuesday, November 5th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Tuesday, November 5th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 39.60%.

Insider Activity at Las Vegas Sands

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 119,221 shares of Las Vegas Sands stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $53.73, for a total transaction of $6,405,744.33. Following the completion of the transaction, the chief executive officer now owns 84,511 shares of the company’s stock, valued at $4,540,776.03. The trade was a 58.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays increased their price objective on shares of Las Vegas Sands from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on Las Vegas Sands from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Stifel Nicolaus boosted their price objective on Las Vegas Sands from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Mizuho raised their target price on Las Vegas Sands from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Susquehanna lifted their target price on Las Vegas Sands from $51.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.00.

Las Vegas Sands 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.