Edgestream Partners L.P. acquired a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 76,634 shares of the casino operator’s stock, valued at approximately $4,547,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Andra AP fonden lifted its holdings in Las Vegas Sands by 7.8% in the second quarter. Andra AP fonden now owns 113,000 shares of the casino operator’s stock valued at $8,629,000 after acquiring an additional 8,200 shares during the period. NN Investment Partners Holdings N.V. lifted its holdings in Las Vegas Sands by 26.7% in the third quarter. NN Investment Partners Holdings N.V. now owns 1,101,491 shares of the casino operator’s stock valued at $65,350,000 after acquiring an additional 232,106 shares during the period. Bruderman Asset Management LLC bought a new position in Las Vegas Sands in the second quarter valued at about $2,004,000. Alps Advisors Inc. lifted its holdings in Las Vegas Sands by 28.1% in the third quarter. Alps Advisors Inc. now owns 7,966 shares of the casino operator’s stock valued at $473,000 after acquiring an additional 1,749 shares during the period. Finally, Signition LP bought a new position in Las Vegas Sands in the third quarter valued at about $382,000. 37.08% of the stock is currently owned by institutional investors.
LVS has been the topic of a number of recent research reports. Argus lowered their target price on Las Vegas Sands from $89.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, October 26th. HSBC raised Las Vegas Sands from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Monday, October 15th. Morgan Stanley set a $68.00 target price on Las Vegas Sands and gave the company a “buy” rating in a report on Thursday, October 25th. Goldman Sachs Group downgraded Las Vegas Sands from a “conviction-buy” rating to a “buy” rating in a research note on Friday, October 19th. Finally, Zacks Investment Research raised Las Vegas Sands from a “strong sell” rating to a “hold” rating in a research note on Monday, October 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.03.
LVS traded down $2.77 on Wednesday, hitting $55.57. 5,183,716 shares of the company’s stock traded hands, compared to its average volume of 4,978,635. The company has a market capitalization of $43.05 billion, a PE ratio of 18.28 and a beta of 1.61. Las Vegas Sands Corp. has a one year low of $48.64 and a one year high of $81.45. The company has a current ratio of 1.93, a quick ratio of 1.92 and a debt-to-equity ratio of 1.52.
Las Vegas Sands (NYSE:LVS) last issued its earnings results on Wednesday, October 24th. The casino operator reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.04). The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.41 billion. Las Vegas Sands had a net margin of 27.71% and a return on equity of 34.18%. Equities research analysts predict that Las Vegas Sands Corp. will post 3.4 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Tuesday, December 18th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend is Monday, December 17th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 98.68%.
In related news, EVP Lawrence A. Jacobs sold 66,667 shares of Las Vegas Sands stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $60.95, for a total transaction of $4,063,353.65. Following the sale, the executive vice president now owns 66,667 shares of the company’s stock, valued at approximately $4,063,353.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.20% of the stock is currently owned by company insiders.
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About Las Vegas Sands
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and iconic Marina Bay Sands in Singapore.
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