Oppenheimer Asset Management Inc. Lowers Holdings in Las Vegas Sands Corp. $LVS

Oppenheimer Asset Management Inc. decreased its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 2.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 85,763 shares of the casino operator’s stock after selling 1,899 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Las Vegas Sands were worth $3,732,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in LVS. MassMutual Private Wealth & Trust FSB lifted its stake in Las Vegas Sands by 37.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator’s stock worth $38,000 after acquiring an additional 239 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Las Vegas Sands in the 2nd quarter valued at about $43,000. Hilltop National Bank purchased a new stake in shares of Las Vegas Sands in the 2nd quarter worth approximately $44,000. UMB Bank n.a. lifted its position in shares of Las Vegas Sands by 53.8% in the 2nd quarter. UMB Bank n.a. now owns 1,361 shares of the casino operator’s stock worth $59,000 after purchasing an additional 476 shares during the period. Finally, Harbour Investments Inc. boosted its stake in shares of Las Vegas Sands by 21.4% during the second quarter. Harbour Investments Inc. now owns 1,401 shares of the casino operator’s stock valued at $61,000 after purchasing an additional 247 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LVS has been the subject of a number of recent research reports. Susquehanna boosted their price objective on shares of Las Vegas Sands from $62.00 to $63.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Wall Street Zen raised Las Vegas Sands from a “hold” rating to a “buy” rating in a research report on Sunday, September 7th. Argus raised their price objective on Las Vegas Sands from $60.00 to $65.00 in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. lifted their target price on Las Vegas Sands from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Finally, UBS Group increased their price target on shares of Las Vegas Sands from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.13.

Las Vegas Sands Price Performance

Shares of NYSE LVS opened at $58.19 on Wednesday. The company has a debt-to-equity ratio of 7.42, a quick ratio of 1.21 and a current ratio of 0.89. The company has a market cap of $39.34 billion, a PE ratio of 26.33, a P/E/G ratio of 1.64 and a beta of 1.01. The business has a 50-day simple moving average of $53.58 and a two-hundred day simple moving average of $47.30. Las Vegas Sands Corp. has a fifty-two week low of $30.18 and a fifty-two week high of $59.66.

Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings data on Wednesday, October 22nd. The casino operator reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.16. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.04 billion. Las Vegas Sands had a net margin of 12.69% and a return on equity of 73.14%. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. As a group, equities analysts expect that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Tuesday, November 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. Las Vegas Sands’s dividend payout ratio (DPR) is currently 45.25%.

Las Vegas Sands Company Profile

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, 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 Marina Bay Sands in Singapore.