Oppenheimer Asset Management Inc. acquired a new stake in Las Vegas Sands Corp. (NYSE:LVS) during the first quarter, Holdings Channel reports. The institutional investor acquired 5,435 shares of the casino operator’s stock, valued at approximately $311,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LVS. Dimensional Fund Advisors LP increased its position in Las Vegas Sands Corp. by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 732,159 shares of the casino operator’s stock valued at $39,109,000 after buying an additional 8,827 shares during the period. Ameriprise Financial Inc. increased its position in Las Vegas Sands Corp. by 55.9% in the first quarter. Ameriprise Financial Inc. now owns 2,418,814 shares of the casino operator’s stock valued at $138,022,000 after buying an additional 867,643 shares during the period. United Services Automobile Association increased its position in Las Vegas Sands Corp. by 27.5% in the first quarter. United Services Automobile Association now owns 594,863 shares of the casino operator’s stock valued at $33,949,000 after buying an additional 128,315 shares during the period. Knights of Columbus Asset Advisors LLC acquired a new position in Las Vegas Sands Corp. during the first quarter valued at approximately $1,039,000. Finally, Kings Point Capital Management increased its position in Las Vegas Sands Corp. by 50.0% in the first quarter. Kings Point Capital Management now owns 84,758 shares of the casino operator’s stock valued at $4,837,000 after buying an additional 28,266 shares during the period. 38.28% of the stock is owned by institutional investors.
Shares of Las Vegas Sands Corp. (NYSE LVS) opened at 61.77 on Monday. The company has a market cap of $49.05 billion, a price-to-earnings ratio of 26.86 and a beta of 1.81. The firm has a 50-day moving average of $61.65 and a 200-day moving average of $56.95. Las Vegas Sands Corp. has a one year low of $43.51 and a one year high of $66.22.
Las Vegas Sands Corp. (NYSE:LVS) last announced its earnings results on Wednesday, April 26th. The casino operator reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.04. Las Vegas Sands Corp. had a net margin of 15.51% and a return on equity of 26.93%. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts forecast that Las Vegas Sands Corp. will post $2.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 22nd were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend was Tuesday, June 20th. Las Vegas Sands Corp.’s dividend payout ratio is currently 126.96%.
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LVS has been the subject of several analyst reports. CLSA reaffirmed a “buy” rating on shares of Las Vegas Sands Corp. in a report on Thursday, April 27th. Aegis reaffirmed a “buy” rating and issued a $60.00 price objective (up from $59.00) on shares of Las Vegas Sands Corp. in a report on Sunday, April 23rd. Vetr downgraded shares of Las Vegas Sands Corp. from a “hold” rating to a “sell” rating and set a $55.63 price objective for the company. in a report on Monday, March 20th. Stifel Nicolaus cut their price objective on shares of Las Vegas Sands Corp. from $65.00 to $63.00 and set a “buy” rating for the company in a report on Monday, April 10th. Finally, Barclays PLC upgraded shares of Las Vegas Sands Corp. from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $55.00 to $68.00 in a research note on Friday, May 12th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Las Vegas Sands Corp. has an average rating of “Buy” and an average target price of $61.70.
Las Vegas Sands Corp. Company Profile
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.
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