Redwood Investment Management LLC purchased a new position in shares of Las Vegas Sands Corp. (NYSE:LVS – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,177 shares of the casino operator’s stock, valued at approximately $1,163,000.
A number of other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Las Vegas Sands by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,251 shares of the casino operator’s stock worth $1,207,000 after acquiring an additional 2,418 shares in the last quarter. Woodline Partners LP grew its position in Las Vegas Sands by 38.9% in the 1st quarter. Woodline Partners LP now owns 29,032 shares of the casino operator’s stock valued at $1,122,000 after acquiring an additional 8,132 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Las Vegas Sands by 91.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,146 shares of the casino operator’s stock worth $93,000 after purchasing an additional 1,027 shares during the period. Flow Traders U.S. LLC purchased a new stake in Las Vegas Sands during the second quarter worth about $414,000. Finally, Cerity Partners LLC lifted its position in shares of Las Vegas Sands by 70.0% during the second quarter. Cerity Partners LLC now owns 17,595 shares of the casino operator’s stock worth $766,000 after purchasing an additional 7,243 shares in the last quarter. 39.16% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently commented on LVS shares. Weiss Ratings reissued a “hold (c)” rating on shares of Las Vegas Sands in a research note on Friday, August 21st. Susquehanna cut their target price on shares of Las Vegas Sands from $64.00 to $63.00 and set a “positive” rating on the stock in a research note on Wednesday, July 22nd. Bank of America reduced their target price on shares of Las Vegas Sands from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. Zacks Research cut shares of Las Vegas Sands from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 23rd. Finally, Argus downgraded shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $61.88.
Las Vegas Sands Trading Down 2.2%
Shares of NYSE:LVS opened at $46.24 on Thursday. Las Vegas Sands Corp. has a 52 week low of $44.21 and a 52 week high of $70.45. The company’s 50 day moving average is $46.57 and its two-hundred day moving average is $51.15. 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 company has a market cap of $29.95 billion, a PE ratio of 17.99, a P/E/G ratio of 1.16 and a beta of 0.85.
Las Vegas Sands (NYSE:LVS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates 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 earnings per share. Equities analysts predict that Las Vegas Sands Corp. will post 3.09 earnings per share for the current fiscal year.
Las Vegas Sands Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Tuesday, August 4th were paid 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 (DPR) is currently 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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