OP Asset Management Ltd Buys New Position in Las Vegas Sands Corp. $LVS

OP Asset Management Ltd bought a new position in shares of Las Vegas Sands Corp. (NYSE:LVS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 31,603 shares of the casino operator’s stock, valued at approximately $1,703,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealthfront Advisers LLC boosted its holdings in Las Vegas Sands by 40.6% during the fourth quarter. Wealthfront Advisers LLC now owns 67,446 shares of the casino operator’s stock worth $4,390,000 after buying an additional 19,488 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Las Vegas Sands by 411.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 44,208 shares of the casino operator’s stock valued at $2,877,000 after buying an additional 35,566 shares in the last quarter. Swiss Life Asset Management Ltd increased its holdings in shares of Las Vegas Sands by 116.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 148,196 shares of the casino operator’s stock valued at $9,646,000 after buying an additional 79,641 shares in the last quarter. Perpetual Ltd acquired a new stake in shares of Las Vegas Sands during the 4th quarter valued at $2,051,000. Finally, SG Americas Securities LLC lifted its position in shares of Las Vegas Sands by 2,655.3% during the 4th quarter. SG Americas Securities LLC now owns 878,022 shares of the casino operator’s stock valued at $57,150,000 after acquiring an additional 846,155 shares during the last quarter. 39.16% of the stock is currently owned by institutional investors.

Las Vegas Sands Stock Up 0.1%

LVS stock opened at $47.15 on Monday. The company has a 50 day moving average of $51.38 and a two-hundred day moving average of $55.97. The company has a market cap of $31.24 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.07 and a beta of 0.81. Las Vegas Sands Corp. has a 12-month low of $43.20 and a 12-month high of $70.45. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 8.64.

Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings results on Wednesday, April 22nd. The casino operator reported $0.91 EPS for the quarter, beating the consensus estimate of $0.76 by $0.15. Las Vegas Sands had a net margin of 13.41% and a return on equity of 118.27%. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the previous year, the company posted $0.59 EPS. Las Vegas Sands’s revenue was up 25.3% on a year-over-year basis. On average, equities analysts anticipate that Las Vegas Sands Corp. will post 3.38 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Tuesday, May 5th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 2.5%. Las Vegas Sands’s dividend payout ratio (DPR) is presently 44.44%.

Analyst Ratings Changes

A number of brokerages recently issued reports on LVS. Deutsche Bank Aktiengesellschaft decreased their target price on Las Vegas Sands from $77.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Stifel Nicolaus increased their price target on Las Vegas Sands from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. UBS Group dropped their price target on Las Vegas Sands from $69.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Jefferies Financial Group boosted their price objective on Las Vegas Sands from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Thursday, April 23rd. Finally, Citigroup upped their price objective on shares of Las Vegas Sands from $76.75 to $78.50 and gave the company a “buy” rating in a research note on Monday, April 13th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.91.

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.