Cornerstone Capital Management Holdings LLC. grew its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 133,708 shares of the casino operator’s stock after purchasing an additional 7,581 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Las Vegas Sands were worth $8,578,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Global X Management Co. LLC boosted its stake in shares of Las Vegas Sands by 8.3% during the second quarter. Global X Management Co. LLC now owns 1,653 shares of the casino operator’s stock worth $106,000 after buying an additional 126 shares during the period. Ffcm LLC boosted its stake in shares of Las Vegas Sands by 90.9% during the second quarter. Ffcm LLC now owns 2,436 shares of the casino operator’s stock worth $153,000 after buying an additional 1,160 shares during the period. San Francisco Sentry Investment Group CA acquired a new stake in shares of Las Vegas Sands during the third quarter worth about $181,000. Chase Investment Counsel Corp acquired a new stake in shares of Las Vegas Sands during the third quarter worth about $200,000. Finally, Birinyi Associates Inc. acquired a new stake in shares of Las Vegas Sands during the second quarter worth about $201,000. 37.47% of the stock is currently owned by institutional investors.
In related news, Director George Jamieson purchased 1,000 shares of Las Vegas Sands stock in a transaction dated Tuesday, November 14th. The stock was bought at an average cost of $66.96 per share, for a total transaction of $66,960.00. Following the transaction, the director now owns 6,488 shares in the company, valued at $434,436.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.10% of the stock is currently owned by company insiders.
Las Vegas Sands Corp. (NYSE LVS) traded down $0.99 during mid-day trading on Wednesday, hitting $70.08. 2,105,600 shares of the stock were exchanged, compared to its average volume of 3,245,065. Las Vegas Sands Corp. has a 52 week low of $51.35 and a 52 week high of $71.42. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.05 and a current ratio of 1.07. The firm has a market cap of $56,179.41, a P/E ratio of 25.57 and a beta of 1.80.
Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings results on Wednesday, October 25th. The casino operator reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Las Vegas Sands had a net margin of 16.80% and a return on equity of 31.11%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the firm earned $0.72 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. equities research analysts expect that Las Vegas Sands Corp. will post 2.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, December 21st will be given a dividend of $0.73 per share. The ex-dividend date is Wednesday, December 20th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.17%. Las Vegas Sands’s payout ratio is 110.19%.
Several equities research analysts have recently weighed in on LVS shares. Zacks Investment Research downgraded shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Roth Capital started coverage on shares of Las Vegas Sands in a research note on Wednesday, October 25th. They set a “buy” rating and a $69.00 target price for the company. Morgan Stanley increased their target price on shares of Las Vegas Sands from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 26th. Gabelli increased their target price on shares of Las Vegas Sands from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Nomura increased their target price on shares of Las Vegas Sands from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.77.
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Las Vegas Sands Company Profile
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.
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