Wright Investors Service Inc. trimmed its position in Las Vegas Sands Corp. (NYSE:LVS) by 30.9% in the second quarter, Holdings Channel reports. The firm 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 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. First Interstate Bank grew its stake in Las Vegas Sands by 70.8% in 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 in the last quarter. Manchester Financial Inc. acquired a new position in Las Vegas Sands in the second quarter worth about $26,000. Private Capital Group LLC grew its stake in Las Vegas Sands by 55.7% in the first quarter. Private Capital Group LLC now owns 467 shares of the casino operator’s stock worth $28,000 after purchasing an additional 167 shares in the last quarter. Icon Wealth Partners LLC acquired a new position in Las Vegas Sands in the first quarter worth about $32,000. Finally, Berman Capital Advisors LLC grew its stake in Las Vegas Sands by 88.1% in the first quarter. Berman Capital Advisors LLC now owns 585 shares of the casino operator’s stock worth $35,000 after purchasing an additional 274 shares in the last quarter. Institutional investors and hedge funds own 36.38% of the company’s stock.
A number of research firms recently commented on LVS. Telsey Advisory Group reiterated a “market perform” rating and issued a $64.00 price target (up from $58.00) on shares of Las Vegas Sands in a research note on Thursday, April 18th. Morgan Stanley decreased their target price on Las Vegas Sands from $71.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. JPMorgan Chase & Co. lifted their target price on Las Vegas Sands from $62.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. HSBC downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. They noted that the move was a valuation call. Finally, Stifel Nicolaus lifted their target price on Las Vegas Sands from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Las Vegas Sands presently has a consensus rating of “Hold” and an average target price of $68.46.
Las Vegas Sands (NYSE:LVS) last issued its earnings results on Wednesday, July 24th. The casino operator reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.09). Las Vegas Sands had a net margin of 14.01% and a return on equity of 35.77%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was up .9% on a year-over-year basis. As a group, analysts anticipate that Las Vegas Sands Corp. will post 3.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.98%. Las Vegas Sands’s dividend payout ratio (DPR) is presently 92.77%.
Las Vegas Sands 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.
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