Saranac Partners Ltd bought a new stake in Las Vegas Sands Corp. (NYSE:LVS – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 108,300 shares of the casino operator’s stock, valued at approximately $5,005,000. Las Vegas Sands comprises approximately 1.5% of Saranac Partners Ltd’s portfolio, making the stock its 27th biggest holding.
Several other large investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in shares of Las Vegas Sands in the 4th quarter valued at $26,000. DV Equities LLC acquired a new position in Las Vegas Sands during the fourth quarter worth $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in Las Vegas Sands during the fourth quarter worth $29,000. Wilmington Savings Fund Society FSB raised its holdings in Las Vegas Sands by 254.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator’s stock valued at $36,000 after buying an additional 400 shares in the last quarter. Finally, Activest Wealth Management raised its holdings in Las Vegas Sands by 1,208.0% during the fourth quarter. Activest Wealth Management now owns 654 shares of the casino operator’s stock valued at $43,000 after buying an additional 604 shares in the last quarter. 39.16% of the stock is owned by institutional investors.
Las Vegas Sands Stock Up 0.0%
LVS stock opened at $47.04 on Monday. The stock has a market capitalization 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. The company has a 50-day moving average of $46.69 and a two-hundred day moving average of $51.37. Las Vegas Sands Corp. has a 52-week low of $44.21 and a 52-week high of $70.45. The company has a debt-to-equity ratio of 15.27, a current ratio of 1.00 and a quick ratio of 0.99.
Las Vegas Sands Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, August 4th. Las Vegas Sands’s dividend payout ratio is presently 46.69%.
Wall Street Analyst Weigh In
LVS has been the subject of several recent analyst reports. Morgan Stanley decreased their price target on Las Vegas Sands from $68.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, July 27th. Argus downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Thursday, July 30th. Wall Street Zen lowered Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Zacks Research cut Las Vegas Sands from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 23rd. Finally, Barclays lowered their price target on Las Vegas Sands from $63.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.88.
View Our Latest Stock Analysis on Las Vegas Sands
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.
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