Legal & General Group Plc purchased a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,812,004 shares of the casino operator’s stock, valued at approximately $83,696,000. Legal & General Group Plc owned approximately 0.28% of Las Vegas Sands at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Swiss Life Asset Management Ltd lifted its position in shares of Las Vegas Sands by 116.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 148,196 shares of the casino operator’s stock worth $9,646,000 after buying an additional 79,641 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Las Vegas Sands by 411.5% during the 4th 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 during the last quarter. Wealthfront Advisers LLC raised its stake 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 acquiring an additional 19,488 shares during the period. SG Americas Securities LLC raised its stake in Las Vegas Sands by 74.2% during the first quarter. SG Americas Securities LLC now owns 1,529,236 shares of the casino operator’s stock worth $82,395,000 after acquiring an additional 651,214 shares during the period. Finally, Fieldview Capital Management LLC bought a new position in Las Vegas Sands in the fourth quarter worth about $4,561,000. 39.16% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have commented on LVS shares. Citigroup decreased their target price on Las Vegas Sands from $78.50 to $73.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Zacks Research cut Las Vegas Sands from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 23rd. Stifel Nicolaus cut their price target on Las Vegas Sands from $74.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Barclays reduced their price objective on Las Vegas Sands from $63.00 to $59.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Las Vegas Sands from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $61.88.
Las Vegas Sands Trading Down 4.6%
Las Vegas Sands stock opened at $44.12 on Friday. Las Vegas Sands Corp. has a 52-week low of $43.92 and a 52-week high of $70.45. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 15.27. The firm has a market capitalization of $28.57 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.14 and a beta of 0.85. The firm has a 50-day moving average price of $46.48 and a two-hundred day moving average price of $51.06.
Las Vegas Sands (NYSE:LVS – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.17). The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.31 billion. Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. Las Vegas Sands’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. Sell-side analysts expect that Las Vegas Sands Corp. will post 3.09 earnings per share for the current year.
Las Vegas Sands Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Tuesday, August 4th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, August 4th. Las Vegas Sands’s payout ratio is 46.69%.
Las Vegas Sands Profile
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.
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