Cim Investment Management Inc. Grows Position in Las Vegas Sands Corp. $LVS

Cim Investment Management Inc. boosted its stake in Las Vegas Sands Corp. (NYSE:LVS) by 99.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,452 shares of the casino operator’s stock after buying an additional 13,203 shares during the period. Cim Investment Management Inc.’s holdings in Las Vegas Sands were worth $1,255,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Las Vegas Sands by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 43,072,014 shares of the casino operator’s stock valued at $1,874,063,000 after acquiring an additional 1,822,806 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Las Vegas Sands by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,722,816 shares of the casino operator’s stock valued at $607,373,000 after purchasing an additional 592,321 shares during the last quarter. ARGA Investment Management LP raised its position in Las Vegas Sands by 36.8% in the second quarter. ARGA Investment Management LP now owns 10,040,975 shares of the casino operator’s stock valued at $436,883,000 after purchasing an additional 2,698,398 shares during the period. Invesco Ltd. lifted its stake in Las Vegas Sands by 4.9% during the second quarter. Invesco Ltd. now owns 9,902,619 shares of the casino operator’s stock worth $430,863,000 after purchasing an additional 459,821 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Las Vegas Sands by 0.4% during the second quarter. Geode Capital Management LLC now owns 8,823,966 shares of the casino operator’s stock worth $382,294,000 after buying an additional 31,153 shares during the period. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Stock Down 1.5%

LVS stock opened at $65.23 on Friday. The company’s 50 day moving average price is $60.63 and its 200 day moving average price is $53.62. The firm has a market capitalization of $44.10 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 1.77 and a beta of 0.97. Las Vegas Sands Corp. has a fifty-two week low of $30.18 and a fifty-two week high of $70.45. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.88 and a current ratio of 0.89.

Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings results on Wednesday, October 22nd. The casino operator reported $0.78 EPS for the quarter, topping the consensus estimate of $0.62 by $0.16. Las Vegas Sands had a net margin of 12.69% and a return on equity of 73.14%. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the business posted $0.44 EPS. The firm’s revenue was up 24.2% on a year-over-year basis. On average, equities research analysts anticipate that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Tuesday, November 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, November 4th. Las Vegas Sands’s dividend payout ratio is 45.25%.

Insider Buying and Selling

In other news, CEO Robert G. Goldstein sold 382,905 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $66.39, for a total transaction of $25,421,062.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Irwin Chafetz sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $69.76, for a total value of $2,092,800.00. Following the sale, the director owned 70,949 shares of the company’s stock, valued at approximately $4,949,402.24. The trade was a 29.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,104,062 shares of company stock valued at $194,591,786 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LVS has been the topic of several research analyst reports. Argus boosted their price objective on Las Vegas Sands from $65.00 to $80.00 and gave the company a “buy” rating in a report on Monday, December 1st. Macquarie boosted their price target on shares of Las Vegas Sands from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Morgan Stanley raised their price objective on shares of Las Vegas Sands from $59.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Las Vegas Sands in a report on Monday, December 8th. Finally, Stifel Nicolaus increased their target price on shares of Las Vegas Sands from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.45.

Las Vegas Sands Profile

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, 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 Marina Bay Sands in Singapore.