Los Angeles Capital Management & Equity Research Inc. reduced its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 95.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,372 shares of the casino operator’s stock after selling 315,376 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Las Vegas Sands were worth $853,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of LVS. Marathon Asset Management LLP bought a new stake in Las Vegas Sands during the third quarter worth approximately $404,981,000. BlackRock Inc. increased its stake in Las Vegas Sands by 20.5% during the second quarter. BlackRock Inc. now owns 19,856,347 shares of the casino operator’s stock worth $1,516,232,000 after acquiring an additional 3,371,432 shares during the last quarter. Schroder Investment Management Group increased its stake in Las Vegas Sands by 58.4% during the second quarter. Schroder Investment Management Group now owns 3,132,036 shares of the casino operator’s stock worth $236,844,000 after acquiring an additional 1,154,672 shares during the last quarter. Waddell & Reed Financial Inc. increased its stake in Las Vegas Sands by 83.7% during the second quarter. Waddell & Reed Financial Inc. now owns 1,786,691 shares of the casino operator’s stock worth $136,432,000 after acquiring an additional 813,987 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Las Vegas Sands by 741.4% during the second quarter. Nomura Asset Management Co. Ltd. now owns 584,126 shares of the casino operator’s stock worth $44,604,000 after acquiring an additional 514,700 shares during the last quarter. 37.21% of the stock is currently owned by institutional investors.
Shares of NYSE:LVS opened at $50.74 on Friday. Las Vegas Sands Corp. has a 1 year low of $48.64 and a 1 year high of $81.45. The company has a market cap of $40.71 billion, a price-to-earnings ratio of 16.69 and a beta of 1.59. The company has a quick ratio of 1.92, a current ratio of 1.93 and a debt-to-equity ratio of 1.52.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Tuesday, December 18th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, December 17th. This represents a $3.00 annualized dividend and a dividend yield of 5.91%. Las Vegas Sands’s dividend payout ratio (DPR) is presently 98.68%.
Several equities research analysts have weighed in on the company. Goldman Sachs Group cut Las Vegas Sands from a “conviction-buy” rating to a “buy” rating in a research note on Friday, October 19th. Nomura reduced their price objective on Las Vegas Sands from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. Zacks Investment Research raised Las Vegas Sands from a “strong sell” rating to a “hold” rating in a research note on Monday, October 29th. Sanford C. Bernstein initiated coverage on Las Vegas Sands in a research note on Thursday, November 15th. They set an “outperform” rating and a $81.45 price objective on the stock. Finally, ValuEngine lowered Las Vegas Sands from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $74.03.
In other Las Vegas Sands news, EVP Lawrence A. Jacobs sold 66,667 shares of the business’s 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 completion of the transaction, the executive vice president now owns 66,667 shares in the company, valued at $4,063,353.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.20% of the stock is owned by insiders.
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Las Vegas Sands Company Profile
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.
Further Reading: Understanding Compound Annual Growth Rate (CAGR)
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