IFM Investors Pty Ltd raised its holdings in Las Vegas Sands Corp. (NYSE:LVS) by 58.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,344 shares of the casino operator’s stock after buying an additional 14,527 shares during the quarter. IFM Investors Pty Ltd’s holdings in Las Vegas Sands were worth $2,273,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of LVS. Renaissance Technologies LLC grew its position in shares of Las Vegas Sands by 2,233.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,431,354 shares of the casino operator’s stock worth $143,669,000 after buying an additional 2,327,154 shares during the last quarter. Alpine Group USVI LLC bought a new stake in shares of Las Vegas Sands in the 3rd quarter worth approximately $119,680,000. Nuveen Asset Management LLC bought a new stake in shares of Las Vegas Sands in the 2nd quarter worth approximately $117,535,000. Boston Partners lifted its stake in shares of Las Vegas Sands by 16.5% in the 2nd quarter. Boston Partners now owns 6,063,064 shares of the casino operator’s stock valued at $358,510,000 after purchasing an additional 858,697 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Las Vegas Sands by 3.7% in the 2nd quarter. BlackRock Inc. now owns 18,516,990 shares of the casino operator’s stock valued at $1,094,168,000 after purchasing an additional 664,769 shares during the period. Hedge funds and other institutional investors own 36.94% of the company’s stock.
A number of research firms have recently commented on LVS. Argus cut Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. ValuEngine upgraded Las Vegas Sands from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Morgan Stanley lowered their target price on Las Vegas Sands from $68.00 to $66.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Credit Suisse Group restated a “hold” rating and issued a $62.00 target price on shares of Las Vegas Sands in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. lowered their target price on Las Vegas Sands from $68.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Las Vegas Sands presently has an average rating of “Hold” and a consensus price target of $68.22.
In other Las Vegas Sands news, EVP Lawrence A. Jacobs sold 66,667 shares of Las Vegas Sands stock in a transaction on 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 completion of the sale, the executive vice president now owns 66,667 shares of the company’s stock, valued at approximately $4,010,686.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Kathleen Bender Patton sold 2,008 shares of Las Vegas Sands stock in a transaction on Friday, September 13th. The stock was sold at an average price of $35.60, for a total value of $71,484.80. 10.50% of the stock is currently owned by insiders.
NYSE:LVS traded down $0.19 during trading hours on Friday, reaching $63.62. 224,723 shares of the company traded hands, compared to its average volume of 3,614,173. The business’s 50-day moving average price is $58.47 and its two-hundred day moving average price is $59.28. The stock has a market capitalization of $49.01 billion, a P/E ratio of 19.16, a P/E/G ratio of 5.93 and a beta of 1.61. Las Vegas Sands Corp. has a 1 year low of $47.39 and a 1 year high of $69.60. The company has a current ratio of 1.60, a quick ratio of 1.59 and a debt-to-equity ratio of 1.82.
Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, October 23rd. The casino operator reported $0.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.75. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.30 billion. Las Vegas Sands had a return on equity of 37.04% and a net margin of 13.86%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. As a group, equities analysts anticipate that Las Vegas Sands Corp. will post 3.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Monday, December 16th. Las Vegas Sands’s payout ratio is 92.77%.
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.
Featured Article: Conference Calls
Receive News & Ratings for Las Vegas Sands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Las Vegas Sands and related companies with MarketBeat.com's FREE daily email newsletter.