Voya Investment Management LLC lifted its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 42.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,544 shares of the casino operator’s stock after buying an additional 18,333 shares during the period. Voya Investment Management LLC’s holdings in Las Vegas Sands were worth $4,700,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in LVS. BlackRock Inc. increased its stake in Las Vegas Sands by 20.5% in the 2nd quarter. BlackRock Inc. now owns 19,856,347 shares of the casino operator’s stock worth $1,516,232,000 after purchasing an additional 3,371,432 shares during the period. Wells Fargo & Company MN increased its stake in Las Vegas Sands by 9.4% in the 2nd quarter. Wells Fargo & Company MN now owns 4,549,810 shares of the casino operator’s stock worth $347,424,000 after purchasing an additional 391,634 shares during the period. Millennium Management LLC increased its stake in Las Vegas Sands by 164.0% in the 1st quarter. Millennium Management LLC now owns 2,679,090 shares of the casino operator’s stock worth $192,627,000 after purchasing an additional 1,664,098 shares during the period. Epoch Investment Partners Inc. increased its stake in Las Vegas Sands by 15.8% in the 2nd quarter. Epoch Investment Partners Inc. now owns 2,663,032 shares of the casino operator’s stock worth $203,350,000 after purchasing an additional 362,869 shares during the period. Finally, Investec Asset Management LTD increased its stake in Las Vegas Sands by 3.7% in the 2nd quarter. Investec Asset Management LTD now owns 2,461,089 shares of the casino operator’s stock worth $187,929,000 after purchasing an additional 86,779 shares during the period. 38.52% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on the company. Morgan Stanley decreased their price target on Las Vegas Sands from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, July 26th. Stifel Nicolaus decreased their price target on Las Vegas Sands from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, July 26th. ValuEngine cut Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Zacks Investment Research cut Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 18th. Finally, Bank of America cut Las Vegas Sands from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $80.00 in a research note on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $77.00.
In other Las Vegas Sands news, COO Robert G. Goldstein acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were purchased at an average cost of $71.13 per share, for a total transaction of $711,300.00. Following the transaction, the chief operating officer now owns 10,000 shares in the company, valued at $711,300. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $4,063,353.65. Following the completion of the sale, the executive vice president now owns 66,667 shares in the company, valued at $4,063,353.65. The disclosure for this sale can be found here. 10.20% of the stock is currently owned by company insiders.
Shares of LVS stock opened at $59.82 on Thursday. The company has a market capitalization of $47.80 billion, a PE ratio of 17.68 and a beta of 1.61. Las Vegas Sands Corp. has a fifty-two week low of $59.11 and a fifty-two week high of $81.45. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.68 and a current ratio of 1.70.
Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, July 25th. The casino operator reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.06). The business had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.29 billion. Las Vegas Sands had a return on equity of 35.22% and a net margin of 28.06%. Las Vegas Sands’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 earnings per share. research analysts forecast that Las Vegas Sands Corp. will post 3.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Wednesday, September 19th will be given a $0.75 dividend. The ex-dividend date is Tuesday, September 18th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.02%. Las Vegas Sands’s dividend payout ratio is currently 98.68%.
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.
Featured Story: Investing in Growth Stocks
Want to see what other hedge funds are holding LVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Las Vegas Sands Corp. (NYSE:LVS).
Receive News & Ratings for Las Vegas Sands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Las Vegas Sands and related companies with MarketBeat.com's FREE daily email newsletter.