Lake Street Advisors Group LLC purchased a new position in shares of Las Vegas Sands Corp. (NYSE:LVS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,364 shares of the casino operator’s stock, valued at approximately $1,250,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Las Vegas Sands during the first quarter worth about $118,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Las Vegas Sands during the second quarter worth about $135,000. Synovus Financial Corp acquired a new stake in shares of Las Vegas Sands during the first quarter worth about $152,000. Summit Trail Advisors LLC lifted its position in shares of Las Vegas Sands by 6,587.3% during the first quarter. Summit Trail Advisors LLC now owns 196,072 shares of the casino operator’s stock worth $196,000 after purchasing an additional 193,140 shares in the last quarter. Finally, All Terrain Financial Advisors LLC acquired a new stake in shares of Las Vegas Sands during the first quarter worth about $201,000. 38.53% of the stock is currently owned by institutional investors and hedge funds.
LVS stock opened at $61.41 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.68 and a current ratio of 1.70. Las Vegas Sands Corp. has a fifty-two week low of $59.11 and a fifty-two week high of $81.45. The company has a market cap of $48.26 billion, a P/E ratio of 20.20 and a beta of 1.61.
Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, July 25th. The casino operator reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.06). The company had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Las Vegas Sands had a net margin of 28.06% and a return on equity of 35.22%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. analysts anticipate that Las Vegas Sands Corp. will post 3.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Wednesday, September 19th will be paid a $0.75 dividend. The ex-dividend date is Tuesday, September 18th. This represents a $3.00 annualized dividend and a yield of 4.89%. Las Vegas Sands’s dividend payout ratio is currently 98.68%.
A number of research firms recently weighed in on LVS. ValuEngine lowered shares of Las Vegas Sands from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Credit Suisse Group began coverage on shares of Las Vegas Sands in a research note on Tuesday, August 14th. They set a “neutral” rating and a $72.00 target price on the stock. Stifel Nicolaus cut their target price on shares of Las Vegas Sands from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, July 26th. Morgan Stanley cut their target price on shares of Las Vegas Sands from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, July 26th. Finally, Nomura cut their target price on shares of Las Vegas Sands from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, July 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $77.00.
In other news, EVP Lawrence A. Jacobs sold 66,667 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $60.95, for a total transaction of $4,063,353.65. Following the transaction, the executive vice president now directly owns 66,667 shares in the company, valued at $4,063,353.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Robert G. Goldstein bought 10,000 shares of the stock in a transaction dated Tuesday, July 31st. The shares were acquired at an average price of $71.13 per share, for a total transaction of $711,300.00. Following the completion of the transaction, the chief operating officer now owns 10,000 shares of the company’s stock, valued at approximately $711,300. The disclosure for this purchase can be found here. Corporate insiders own 10.20% of the company’s stock.
Las Vegas Sands Company Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, 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 iconic Marina Bay Sands in Singapore.
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