Wright Investors Service Inc. lessened its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 30.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,039 shares of the casino operator’s stock after selling 9,847 shares during the quarter. Wright Investors Service Inc.’s holdings in Las Vegas Sands were worth $1,302,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Private Capital Group LLC grew its holdings in Las Vegas Sands by 55.7% during the 1st quarter. Private Capital Group LLC now owns 467 shares of the casino operator’s stock valued at $28,000 after buying an additional 167 shares during the last quarter. First Interstate Bank boosted its holdings in shares of Las Vegas Sands by 70.8% during the first quarter. First Interstate Bank now owns 410 shares of the casino operator’s stock worth $25,000 after purchasing an additional 170 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Las Vegas Sands by 0.4% during the second quarter. State of Alaska Department of Revenue now owns 44,121 shares of the casino operator’s stock worth $2,606,000 after purchasing an additional 173 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Las Vegas Sands by 2.9% during the second quarter. Moors & Cabot Inc. now owns 6,497 shares of the casino operator’s stock worth $384,000 after purchasing an additional 181 shares during the last quarter. Finally, Alpha Cubed Investments LLC boosted its holdings in shares of Las Vegas Sands by 2.9% during the second quarter. Alpha Cubed Investments LLC now owns 6,561 shares of the casino operator’s stock worth $388,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 36.38% of the company’s stock.
Shares of LVS traded down $0.29 during trading hours on Thursday, hitting $51.50. The stock had a trading volume of 97,779 shares, compared to its average volume of 4,246,527. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.62 and a current ratio of 1.64. The company has a market capitalization of $39.98 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 6.83 and a beta of 1.52. The stock has a fifty day simple moving average of $60.34. Las Vegas Sands Corp. has a 12-month low of $47.39 and a 12-month high of $69.60.
Las Vegas Sands (NYSE:LVS) last issued its earnings results on Wednesday, July 24th. The casino operator reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.09). The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Las Vegas Sands had a return on equity of 35.77% and a net margin of 14.01%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $0.76 earnings per share. As a group, sell-side analysts expect that Las Vegas Sands Corp. will post 3.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Wednesday, September 18th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.98%. The ex-dividend date is Tuesday, September 17th. Las Vegas Sands’s dividend payout ratio (DPR) is currently 92.77%.
LVS has been the topic of several analyst reports. HSBC cut Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. They noted that the move was a valuation call. Telsey Advisory Group restated a “market perform” rating and set a $64.00 price objective (up previously from $58.00) on shares of Las Vegas Sands in a report on Thursday, April 18th. Goldman Sachs Group upgraded Las Vegas Sands to a “buy” rating in a report on Tuesday, June 11th. Morgan Stanley decreased their price objective on Las Vegas Sands from $71.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. Finally, Zacks Investment Research upgraded Las Vegas Sands from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Las Vegas Sands has an average rating of “Hold” and a consensus price target of $68.46.
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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