Riverpark Capital Management LLC cut its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 19.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 325,086 shares of the casino operator’s stock after selling 78,429 shares during the quarter. Las Vegas Sands accounts for about 3.2% of Riverpark Capital Management LLC’s holdings, making the stock its 11th biggest holding. Riverpark Capital Management LLC’s holdings in Las Vegas Sands were worth $22,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the business. Truewealth LLC purchased a new position in shares of Las Vegas Sands in the fourth quarter worth $130,000. Bessemer Group Inc. increased its stake in shares of Las Vegas Sands by 60.5% in the fourth quarter. Bessemer Group Inc. now owns 2,067 shares of the casino operator’s stock worth $144,000 after buying an additional 779 shares during the period. San Francisco Sentry Investment Group CA purchased a new position in shares of Las Vegas Sands in the third quarter worth $181,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Las Vegas Sands in the third quarter worth $198,000. Finally, Independence Trust CO purchased a new position in shares of Las Vegas Sands in the fourth quarter worth $205,000. 38.68% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on LVS. Stifel Nicolaus reaffirmed a “buy” rating and issued a $76.00 target price on shares of Las Vegas Sands in a research note on Tuesday, January 9th. Barclays lifted their target price on shares of Las Vegas Sands from $69.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, December 7th. ValuEngine raised shares of Las Vegas Sands from a “hold” rating to a “buy” rating in a research note on Friday. Jefferies Group began coverage on shares of Las Vegas Sands in a research note on Thursday, January 18th. They issued a “hold” rating and a $73.00 target price on the stock. Finally, Bank of America lifted their target price on shares of Las Vegas Sands from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $70.54.
Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, January 24th. The casino operator reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.11. Las Vegas Sands had a net margin of 21.78% and a return on equity of 33.90%. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the business posted $0.62 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. sell-side analysts forecast that Las Vegas Sands Corp. will post 3.34 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 22nd will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Wednesday, March 21st. This is a boost from Las Vegas Sands’s previous quarterly dividend of $0.73. Las Vegas Sands’s payout ratio is 82.49%.
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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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