JPMorgan Chase & Co. Lowers Las Vegas Sands (NYSE:LVS) Price Target to $61.00

Las Vegas Sands (NYSE:LVS) had its target price dropped by analysts at JPMorgan Chase & Co. from $62.00 to $61.00 in a research report issued on Wednesday. The firm currently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 39.05% from the company’s current price.

Other analysts have also recently issued research reports about 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 report on Tuesday, November 5th. Stifel Nicolaus increased their price objective on shares of Las Vegas Sands from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Mizuho upped their target price on shares of Las Vegas Sands from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays dropped their target price on shares of Las Vegas Sands from $61.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Morgan Stanley reissued an “equal weight” rating and set a $51.00 price target (down from $54.00) on shares of Las Vegas Sands in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Las Vegas Sands currently has a consensus rating of “Moderate Buy” and an average target price of $60.33.

Las Vegas Sands Trading Up 1.5 %

Shares of LVS stock traded up $0.64 during mid-day trading on Wednesday, reaching $43.87. The stock had a trading volume of 2,535,719 shares, compared to its average volume of 4,519,878. The firm has a market capitalization of $31.81 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 1.00 and a beta of 1.09. The stock’s 50-day moving average price is $50.06 and its two-hundred day moving average price is $46.72. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 3.09. Las Vegas Sands has a 52-week low of $36.62 and a 52-week high of $56.60.

Insider Buying and Selling

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 60,187 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $53.02, for a total value of $3,191,114.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert G. Goldstein sold 24,324 shares of Las Vegas Sands stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $52.00, for a total value 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. The trade was a 28.78 % decrease in their position. The disclosure for this sale can be found here. 0.91% of the stock is owned by company insiders.

Institutional Trading of Las Vegas Sands

Hedge funds and other institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. raised its position in shares of Las Vegas Sands by 97.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 89,743 shares of the casino operator’s stock worth $4,518,000 after acquiring an additional 44,223 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Las Vegas Sands by 1.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,627,422 shares of the casino operator’s stock valued at $283,284,000 after acquiring an additional 77,807 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Las Vegas Sands during the second quarter worth $619,000. Clearbridge Investments LLC raised its holdings in Las Vegas Sands by 29.9% during the second quarter. Clearbridge Investments LLC now owns 833,487 shares of the casino operator’s stock worth $36,882,000 after purchasing an additional 191,805 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Las Vegas Sands by 33.3% in the 3rd quarter. Principal Financial Group Inc. now owns 548,072 shares of the casino operator’s stock valued at $27,590,000 after buying an additional 136,859 shares during the period. 39.16% of the stock is currently owned by institutional investors and hedge funds.

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.