Bank of New York Mellon Corp Boosts Position in Las Vegas Sands Corp. $LVS

Bank of New York Mellon Corp increased its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 18.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,893,031 shares of the casino operator’s stock after acquiring an additional 1,246,206 shares during the quarter. Bank of New York Mellon Corp’s holdings in Las Vegas Sands were worth $513,757,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Las Vegas Sands during the fourth quarter worth approximately $364,892,000. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Las Vegas Sands by 43.8% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,454,013 shares of the casino operator’s stock worth $293,371,000 after purchasing an additional 1,660,823 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Las Vegas Sands by 410.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator’s stock worth $277,963,000 after purchasing an additional 4,154,753 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Las Vegas Sands by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,723,494 shares of the casino operator’s stock worth $200,335,000 after purchasing an additional 187,389 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in Las Vegas Sands by 33,102.6% in the fourth quarter. M&T Bank Corp now owns 3,060,288 shares of the casino operator’s stock valued at $197,463,000 after buying an additional 3,051,071 shares during the last quarter. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Insider Activity

In other news, CEO Patrick Dumont sold 60,165 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $54.75, for a total value of $3,294,033.75. Following the transaction, the chief executive officer owned 511,942 shares of the company’s stock, valued at approximately $28,028,824.50. The trade was a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

LVS has been the subject of a number of research reports. Citigroup boosted their price objective on Las Vegas Sands from $76.75 to $78.50 and gave the company a “buy” rating in a research note on Monday, April 13th. Jefferies Financial Group boosted their price objective on Las Vegas Sands from $61.00 to $63.00 and gave the company a “hold” rating in a research note on Thursday, April 23rd. HSBC boosted their price objective on Las Vegas Sands from $73.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Wall Street Zen cut Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Finally, Mizuho boosted their price objective on Las Vegas Sands from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.28.

Las Vegas Sands Trading Down 0.7%

NYSE:LVS opened at $50.83 on Thursday. The firm has a market cap of $33.68 billion, a P/E ratio of 18.83, a PEG ratio of 1.16 and a beta of 0.81. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 8.64. The stock’s 50 day simple moving average is $53.03 and its 200-day simple moving average is $58.03. Las Vegas Sands Corp. has a 12-month low of $40.03 and a 12-month high of $70.45.

Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, April 22nd. The casino operator reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.15. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.32 billion. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Equities analysts anticipate that Las Vegas Sands Corp. will post 3.38 EPS for the current year.

Las Vegas Sands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Tuesday, May 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.4%. Las Vegas Sands’s payout ratio is presently 44.44%.

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.