Korea Investment CORP Acquires Shares of 439,650 Las Vegas Sands Corp. $LVS

Korea Investment CORP bought a new position in shares of Las Vegas Sands Corp. (NYSE:LVS – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 439,650 shares of the casino operator’s stock, valued at approximately $20,307,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LVS. International Assets Investment Management LLC bought a new position in shares of Las Vegas Sands in the fourth quarter valued at approximately $26,000. DV Equities LLC bought a new stake in Las Vegas Sands during the fourth quarter worth $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Las Vegas Sands during the fourth quarter worth $29,000. Wilmington Savings Fund Society FSB boosted its position in Las Vegas Sands by 254.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator’s stock worth $36,000 after purchasing an additional 400 shares during the last quarter. Finally, Activest Wealth Management boosted its position in Las Vegas Sands by 1,208.0% in the fourth quarter. Activest Wealth Management now owns 654 shares of the casino operator’s stock worth $43,000 after purchasing an additional 604 shares during the last quarter. Hedge funds and other institutional investors own 39.16% of the company’s stock.

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Las Vegas Sands Price Performance

Shares of NYSE LVS opened at $47.04 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27. The stock has a fifty day simple moving average of $46.69 and a two-hundred day simple moving average of $51.37. Las Vegas Sands Corp. has a 1-year low of $44.21 and a 1-year high of $70.45. The firm has a market cap of $30.47 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85.

Las Vegas Sands (NYSE:LVS – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.17). Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. Analysts anticipate that Las Vegas Sands Corp. will post 3.09 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, August 4th. Las Vegas Sands’s payout ratio is currently 46.69%.

Analyst Ratings Changes

Several brokerages have recently issued reports on LVS. Barclays decreased their target price 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. The Goldman Sachs Group cut their price target on shares of Las Vegas Sands from $63.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Citigroup reduced their price target on shares of Las Vegas Sands from $78.50 to $73.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Stifel Nicolaus decreased their price objective on shares of Las Vegas Sands from $74.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $62.00 price objective (down from $73.00) on shares of Las Vegas Sands in a research report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.88.

Check Out Our Latest Report on Las Vegas Sands

About Las Vegas Sands

(Free Report)

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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