OMERS ADMINISTRATION Corp bought a new stake in 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 bought 34,441 shares of the casino operator’s stock, valued at approximately $1,591,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LVS. AQR Capital Management LLC raised its stake in shares of Las Vegas Sands by 222.7% in the fourth quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator’s stock worth $592,223,000 after purchasing an additional 6,279,390 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Las Vegas Sands by 4.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,582,962 shares of the casino operator’s stock valued at $462,450,000 after acquiring an additional 396,705 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Las Vegas Sands by 18.7% during the fourth quarter. Bank of New York Mellon Corp now owns 7,893,031 shares of the casino operator’s stock worth $513,757,000 after purchasing an additional 1,246,206 shares during the last quarter. Norges Bank acquired a new position in Las Vegas Sands during the fourth quarter valued at $364,892,000. Finally, Dimensional Fund Advisors LP grew its position in Las Vegas Sands by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,780,266 shares of the casino operator’s stock worth $203,616,000 after purchasing an additional 90,690 shares during the period. Institutional investors and hedge funds own 39.16% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on LVS. UBS Group set a $52.00 target price on Las Vegas Sands in a research note on Thursday, July 2nd. JPMorgan Chase & Co. decreased their price target on shares of Las Vegas Sands from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. The Goldman Sachs Group lowered their price objective on Las Vegas Sands from $63.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Las Vegas Sands in a research note on Friday, August 21st. Finally, Stifel Nicolaus reduced their price objective on Las Vegas Sands from $74.00 to $60.00 and set a “buy” 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 assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.88.
Las Vegas Sands Stock Down 2.2%
Shares of NYSE:LVS opened at $46.24 on Thursday. 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 business has a fifty day moving average of $46.57 and a two-hundred day moving average of $51.15. The stock has a market cap of $29.95 billion, a P/E ratio of 17.99, a PEG ratio of 1.16 and a beta of 0.85. Las Vegas Sands Corp. has a 52-week low of $44.21 and a 52-week high of $70.45.
Las Vegas Sands (NYSE:LVS – Get Free Report) last posted 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 company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, research 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 disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. Las Vegas Sands’s dividend payout ratio is currently 46.69%.
Las Vegas Sands Company 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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