World Equity Group Inc. Sells 17,130 Shares of Las Vegas Sands Corp. (NYSE:LVS)

World Equity Group Inc. trimmed its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 66.9% in the 1st quarter, Holdings Channel reports. The firm owned 8,472 shares of the casino operator’s stock after selling 17,130 shares during the quarter. World Equity Group Inc.’s holdings in Las Vegas Sands were worth $327,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LVS. Osborne Partners Capital Management LLC boosted its position in Las Vegas Sands by 102.5% in the 1st quarter. Osborne Partners Capital Management LLC now owns 211,437 shares of the casino operator’s stock valued at $8,168,000 after buying an additional 107,033 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Las Vegas Sands by 1.4% in the first quarter. State of Alaska Department of Revenue now owns 40,250 shares of the casino operator’s stock valued at $1,554,000 after purchasing an additional 570 shares during the period. Exchange Traded Concepts LLC grew its stake in Las Vegas Sands by 2.6% in the first quarter. Exchange Traded Concepts LLC now owns 22,870 shares of the casino operator’s stock worth $883,000 after purchasing an additional 569 shares in the last quarter. Fifth Third Bancorp grew its stake in Las Vegas Sands by 4.7% in the first quarter. Fifth Third Bancorp now owns 26,094 shares of the casino operator’s stock worth $1,008,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Las Vegas Sands by 133.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,499 shares of the casino operator’s stock worth $59,000 after purchasing an additional 856 shares during the period. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Stock Down 0.1%

Shares of Las Vegas Sands stock opened at $41.75 on Friday. The firm’s 50 day moving average price is $39.17 and its 200-day moving average price is $42.86. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.58. Las Vegas Sands Corp. has a 52-week low of $30.18 and a 52-week high of $56.61. The company has a market cap of $29.50 billion, a P/E ratio of 23.19, a PEG ratio of 1.49 and a beta of 1.03.

Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, April 23rd. The casino operator reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Las Vegas Sands had a net margin of 11.64% and a return on equity of 44.91%. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business earned $0.78 earnings per share. Las Vegas Sands’s revenue was down 3.3% on a year-over-year basis. On average, sell-side analysts predict that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 23rd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the casino operator to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Las Vegas Sands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Tuesday, May 6th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. Las Vegas Sands’s payout ratio is 55.56%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LVS. Mizuho set a $47.00 target price on Las Vegas Sands in a report on Thursday, April 24th. Hsbc Global Res raised shares of Las Vegas Sands to a “strong-buy” rating in a research note on Thursday, April 24th. Barclays dropped their target price on shares of Las Vegas Sands from $58.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley cut their target price on shares of Las Vegas Sands from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus set a $57.00 price target on shares of Las Vegas Sands and gave the stock a “buy” rating in a research report on Thursday, April 24th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.75.

Las Vegas Sands Company 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.