Alpine Group USVI LLC acquired a new position in shares of Las Vegas Sands Corp. (NYSE:LVS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,072,029 shares of the casino operator’s stock, valued at approximately $119,680,000. Las Vegas Sands makes up 30.7% of Alpine Group USVI LLC’s holdings, making the stock its biggest holding. Alpine Group USVI LLC owned about 0.27% of Las Vegas Sands at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in LVS. Renaissance Technologies LLC increased its stake in Las Vegas Sands by 2,233.4% during the second quarter. Renaissance Technologies LLC now owns 2,431,354 shares of the casino operator’s stock worth $143,669,000 after acquiring an additional 2,327,154 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Las Vegas Sands in the second quarter valued at $117,535,000. Boston Partners grew its stake in shares of Las Vegas Sands by 16.5% in the second quarter. Boston Partners now owns 6,063,064 shares of the casino operator’s stock valued at $358,510,000 after buying an additional 858,697 shares in the last quarter. BlackRock Inc. grew its stake in shares of Las Vegas Sands by 3.7% in the second quarter. BlackRock Inc. now owns 18,516,990 shares of the casino operator’s stock valued at $1,094,168,000 after buying an additional 664,769 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of Las Vegas Sands in the second quarter valued at $33,983,000. Hedge funds and other institutional investors own 36.30% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Standpoint Research assumed coverage on Las Vegas Sands in a research note on Wednesday, September 4th. They issued a “buy” rating for the company. JPMorgan Chase & Co. decreased their target price on Las Vegas Sands from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, September 6th. UBS Group decreased their target price on Las Vegas Sands from $63.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Morgan Stanley decreased their target price on Las Vegas Sands from $68.00 to $66.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. Finally, Deutsche Bank upgraded Las Vegas Sands from a “hold” rating to a “buy” rating and lifted their target price for the company from $69.00 to $70.00 in a report on Sunday, September 8th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $67.23.
NYSE:LVS traded up $2.79 during midday trading on Friday, reaching $57.58. The company had a trading volume of 466,783 shares, compared to its average volume of 8,256,574. The firm has a market capitalization of $42.18 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 7.03 and a beta of 1.60. The stock’s fifty day simple moving average is $56.21 and its 200-day simple moving average is $59.84. Las Vegas Sands Corp. has a 12-month low of $47.39 and a 12-month high of $69.60. The company has a current ratio of 1.64, a quick ratio of 1.62 and a debt-to-equity ratio of 1.81.
Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, July 24th. The casino operator reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.09). The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Las Vegas Sands had a return on equity of 35.77% and a net margin of 14.01%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. As a group, sell-side analysts expect that Las Vegas Sands Corp. will post 3.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date was Tuesday, September 17th. Las Vegas Sands’s dividend payout ratio (DPR) is 92.77%.
In other Las Vegas Sands news, General Counsel Kathleen Bender Patton sold 2,008 shares of Las Vegas Sands stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $35.60, for a total transaction of $71,484.80. Also, EVP Lawrence A. Jacobs sold 66,667 shares of Las Vegas Sands stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $60.16, for a total value of $4,010,686.72. Following the sale, the executive vice president now directly owns 66,667 shares of the company’s stock, valued at $4,010,686.72. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.
About Las Vegas Sands
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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