Malaga Cove Capital LLC Grows Stock Position in Las Vegas Sands Corp. $LVS

Malaga Cove Capital LLC boosted its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 25.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,377 shares of the casino operator’s stock after buying an additional 4,990 shares during the quarter. Malaga Cove Capital LLC’s holdings in Las Vegas Sands were worth $1,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Las Vegas Sands by 37.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator’s stock worth $38,000 after acquiring an additional 239 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Las Vegas Sands in the second quarter worth about $43,000. Hilltop National Bank purchased a new position in shares of Las Vegas Sands during the second quarter valued at approximately $44,000. UMB Bank n.a. grew its stake in shares of Las Vegas Sands by 53.8% during the second quarter. UMB Bank n.a. now owns 1,361 shares of the casino operator’s stock valued at $59,000 after buying an additional 476 shares during the last quarter. Finally, Harbour Investments Inc. raised its holdings in shares of Las Vegas Sands by 21.4% in the second quarter. Harbour Investments Inc. now owns 1,401 shares of the casino operator’s stock worth $61,000 after buying an additional 247 shares during the period. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LVS shares. Stifel Nicolaus upped their price objective on Las Vegas Sands from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Macquarie upped their price target on shares of Las Vegas Sands from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Susquehanna lifted their price objective on shares of Las Vegas Sands from $62.00 to $63.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Barclays boosted their price objective on shares of Las Vegas Sands from $59.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Finally, Wall Street Zen raised shares of Las Vegas Sands from a “hold” rating to a “buy” rating in a research note on Sunday, September 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.13.

Las Vegas Sands Stock Performance

Shares of NYSE:LVS opened at $62.80 on Friday. The company has a market capitalization of $42.46 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03. Las Vegas Sands Corp. has a 52 week low of $30.18 and a 52 week high of $63.36. The company has a quick ratio of 1.21, a current ratio of 0.89 and a debt-to-equity ratio of 7.42. The firm has a 50 day moving average of $54.31 and a 200 day moving average of $48.57.

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

Las Vegas Sands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Tuesday, November 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. Las Vegas Sands’s payout ratio is presently 45.25%.

Insider Activity at Las Vegas Sands

In related news, CEO Robert G. Goldstein sold 700,000 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $58.88, for a total transaction of $41,216,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 1,600,000 shares of company stock worth $94,502,000. Insiders own 1.20% of the company’s stock.

About Las Vegas Sands

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.