Putnam Investments LLC increased its position in Las Vegas Sands Corp. (NYSE:LVS) by 123.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 537,558 shares of the casino operator’s stock after purchasing an additional 296,988 shares during the quarter. Putnam Investments LLC owned 0.07% of Las Vegas Sands worth $41,048,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Las Vegas Sands by 16.6% in the first quarter. IFP Advisors Inc now owns 4,870 shares of the casino operator’s stock valued at $350,000 after purchasing an additional 693 shares during the period. Alps Advisors Inc. boosted its stake in Las Vegas Sands by 12.1% during the 2nd quarter. Alps Advisors Inc. now owns 7,295 shares of the casino operator’s stock valued at $507,000 after acquiring an additional 786 shares during the last quarter. Wagner Bowman Management Corp boosted its stake in Las Vegas Sands by 14.5% during the 2nd quarter. Wagner Bowman Management Corp now owns 6,503 shares of the casino operator’s stock valued at $496,000 after acquiring an additional 824 shares during the last quarter. Blair William & Co. IL boosted its stake in Las Vegas Sands by 14.0% during the 1st quarter. Blair William & Co. IL now owns 6,817 shares of the casino operator’s stock valued at $490,000 after acquiring an additional 838 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA boosted its stake in Las Vegas Sands by 16.1% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 6,972 shares of the casino operator’s stock valued at $532,000 after acquiring an additional 965 shares during the last quarter. Institutional investors and hedge funds own 38.53% of the company’s stock.
Las Vegas Sands 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 1 year low of $59.11 and a 1 year high of $81.45. The stock has a market capitalization of $48.26 billion, a PE ratio of 20.20 and a beta of 1.61.
Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings results on Wednesday, July 25th. The casino operator reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.06). Las Vegas Sands had a return on equity of 35.22% and a net margin of 28.06%. The business had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the previous year, the business posted $0.73 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. research analysts expect that Las Vegas Sands Corp. will post 3.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Wednesday, September 19th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, September 18th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.89%. Las Vegas Sands’s payout ratio is currently 98.68%.
In other Las Vegas Sands news, COO Robert G. Goldstein purchased 10,000 shares of Las Vegas Sands stock in a transaction dated Tuesday, July 31st. The shares were bought at an average cost of $71.13 per share, for a total transaction of $711,300.00. Following the transaction, the chief operating officer now owns 10,000 shares in the company, valued at approximately $711,300. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lawrence A. Jacobs sold 66,667 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $60.95, for a total transaction of $4,063,353.65. Following the completion of the transaction, the executive vice president now owns 66,667 shares in the company, valued at $4,063,353.65. The disclosure for this sale can be found here. Company insiders own 10.20% of the company’s stock.
A number of research analysts have commented on LVS shares. Stifel Nicolaus reduced their price objective 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. ValuEngine downgraded shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Zacks Investment Research downgraded shares of Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 18th. Credit Suisse Group started coverage on shares of Las Vegas Sands in a research note on Tuesday, August 14th. They set a “neutral” rating and a $72.00 price objective on the stock. Finally, Nomura reduced their price objective 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 issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $77.00.
Las Vegas Sands 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.
Further Reading: Understanding Average Daily Trade Volume
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