Las Vegas Sands Corp. $LVS Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Las Vegas Sands position by 55.6% in the third quarter, selling 457,566 shares and retaining 364,702 shares worth approximately $13.8 million.
• Analysts remain moderately bullish overall, with 11 Buy ratings and 10 Hold ratings and a consensus price target of $59.10, despite several recent target-price reductions.
• Las Vegas Sands reported quarterly EPS of $0.59, missing the $0.76 consensus estimate, while revenue of $3.15 billion also fell short of expectations and declined slightly year over year.

Assenagon Asset Management S.A. lowered its position in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 55.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 364,702 shares of the casino operator's stock after selling 457,566 shares during the quarter. Assenagon Asset Management S.A. owned 0.06% of Las Vegas Sands worth $13,789,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH raised its holdings in Las Vegas Sands by 0.8% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,774,781 shares of the casino operator's stock valued at $67,104,000 after buying an additional 13,580 shares during the period. Krilogy Financial LLC grew its stake in Las Vegas Sands by 11.4% during the third quarter. Krilogy Financial LLC now owns 17,003 shares of the casino operator's stock worth $615,000 after buying an additional 1,734 shares during the period. NorthCrest Asset Manangement LLC purchased a new stake in Las Vegas Sands during the third quarter worth approximately $213,000. GAMMA Investing LLC grew its stake in Las Vegas Sands by 37.5% during the third quarter. GAMMA Investing LLC now owns 9,569 shares of the casino operator's stock worth $362,000 after buying an additional 2,609 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Las Vegas Sands by 118.7% in the third quarter. Farther Finance Advisors LLC now owns 7,448 shares of the casino operator's stock worth $282,000 after acquiring an additional 4,042 shares in the last quarter. Institutional investors and hedge funds own 39.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LVS shares. Mizuho cut their target price on shares of Las Vegas Sands from $67.00 to $61.00 and set an "outperform" rating on the stock in a research note on Thursday, July 23rd. JPMorgan Chase & Co. decreased their price target on shares of Las Vegas Sands from $64.00 to $60.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Wall Street Zen cut shares of Las Vegas Sands from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Wells Fargo & Company lowered their price target on Las Vegas Sands from $48.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Las Vegas Sands in a research report on Friday, August 21st. Eleven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $59.10.

Las Vegas Sands Stock Down 0.1%

Shares of NYSE LVS opened at $37.96 on Tuesday. Las Vegas Sands Corp. has a 1 year low of $35.28 and a 1 year high of $70.45. The firm has a market cap of $24.59 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.94 and a beta of 0.78. The company has a debt-to-equity ratio of 15.27, a quick ratio of 0.99 and a current ratio of 1.00. The stock's 50-day simple moving average is $41.55 and its 200-day simple moving average is $47.09.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.17). The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.31 billion. Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%. The company's revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. As a group, equities analysts anticipate that Las Vegas Sands Corp. will post 3.09 earnings per share for the current fiscal year.

Las Vegas Sands Company Profile

Las Vegas Sands Corp. NYSE: LVS is a global developer and operator of integrated resorts, combining hotel accommodations, casinos, convention and exhibition facilities, restaurants, retail outlets, entertainment venues and other leisure amenities. The company serves both mass-market and premium customers through large-scale properties designed to support tourism and business travel.

Las Vegas Sands' principal operations are in Macau and Singapore. Its Macau portfolio includes properties such as The Venetian Macao, The Londoner Macao, The Parisian Macao, Sands Macao and The Plaza Macao.

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