SteelPeak Wealth LLC Acquires 42,659 Shares of Las Vegas Sands Corp. $LVS

SteelPeak Wealth LLC raised its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 835.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,765 shares of the casino operator’s stock after purchasing an additional 42,659 shares during the quarter. SteelPeak Wealth LLC’s holdings in Las Vegas Sands were worth $3,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Las Vegas Sands by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,251 shares of the casino operator’s stock worth $1,207,000 after buying an additional 2,418 shares during the period. Woodline Partners LP grew its position in Las Vegas Sands by 38.9% in the first quarter. Woodline Partners LP now owns 29,032 shares of the casino operator’s stock valued at $1,122,000 after acquiring an additional 8,132 shares during the period. Schroder Investment Management Group grew its position in Las Vegas Sands by 16.5% in the second quarter. Schroder Investment Management Group now owns 22,345 shares of the casino operator’s stock valued at $972,000 after acquiring an additional 3,159 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Las Vegas Sands by 4,226.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,012,800 shares of the casino operator’s stock worth $44,067,000 after acquiring an additional 989,392 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Las Vegas Sands by 4.9% during the second quarter. Invesco Ltd. now owns 9,902,619 shares of the casino operator’s stock valued at $430,863,000 after acquiring an additional 459,821 shares during the period. 39.16% of the stock is currently owned by institutional investors.

Las Vegas Sands Trading Up 0.0%

LVS opened at $54.37 on Friday. The company has a debt-to-equity ratio of 7.58, a current ratio of 1.14 and a quick ratio of 1.13. The company has a market cap of $36.08 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89. The firm has a 50 day simple moving average of $55.56 and a 200 day simple moving average of $58.77. Las Vegas Sands Corp. has a fifty-two week low of $30.18 and a fifty-two week high of $70.45.

Las Vegas Sands (NYSE:LVS) last issued its earnings results on Wednesday, January 28th. The casino operator reported $0.85 EPS for the quarter, beating the consensus estimate of $0.77 by $0.08. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Las Vegas Sands had a net margin of 12.50% and a return on equity of 91.40%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. On average, sell-side analysts anticipate that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Monday, February 9th were given a $0.30 dividend. The ex-dividend date was Monday, February 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.2%. This is a positive change from Las Vegas Sands’s previous quarterly dividend of $0.25. Las Vegas Sands’s dividend payout ratio is 51.28%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Las Vegas Sands from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Morgan Stanley set a $66.00 target price on shares of Las Vegas Sands in a research report on Wednesday, February 11th. Stifel Nicolaus cut their price target on shares of Las Vegas Sands from $75.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 29th. The Goldman Sachs Group reduced their price target on shares of Las Vegas Sands from $80.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Finally, Argus decreased their price objective on shares of Las Vegas Sands from $80.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.55.

Insiders Place Their Bets

In related news, CEO Patrick Dumont sold 60,165 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $54.75, for a total transaction of $3,294,033.75. Following the completion of the transaction, the chief executive officer owned 511,942 shares in the company, valued at approximately $28,028,824.50. The trade was a 10.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by insiders.

About Las Vegas Sands

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.