Malaga Cove Capital LLC Increases Stock Position in Las Vegas Sands Corp. $LVS

Malaga Cove Capital LLC increased its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 25.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,377 shares of the casino operator’s stock after purchasing an additional 4,990 shares during the period. Malaga Cove Capital LLC’s holdings in Las Vegas Sands were worth $1,061,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LVS. American Century Companies Inc. grew its holdings in shares of Las Vegas Sands by 69.3% in the first quarter. American Century Companies Inc. now owns 567,101 shares of the casino operator’s stock worth $21,907,000 after acquiring an additional 232,091 shares during the period. Northern Trust Corp boosted its position in Las Vegas Sands by 0.4% in the first quarter. Northern Trust Corp now owns 3,101,190 shares of the casino operator’s stock worth $119,799,000 after purchasing an additional 12,593 shares during the last quarter. Ground Swell Capital LLC bought a new stake in shares of Las Vegas Sands during the 1st quarter valued at about $225,000. Everett Harris & Co. CA purchased a new stake in shares of Las Vegas Sands during the 1st quarter valued at about $657,000. Finally, Jump Financial LLC lifted its stake in shares of Las Vegas Sands by 560.4% in the 1st quarter. Jump Financial LLC now owns 70,685 shares of the casino operator’s stock worth $2,731,000 after purchasing an additional 59,982 shares during the period. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Stock Performance

NYSE:LVS opened at $62.80 on Friday. The stock has a 50-day moving average price of $54.31 and a 200 day moving average price of $48.57. The stock has a market capitalization of $42.46 billion, a P/E ratio of 28.42, a P/E/G ratio of 1.62 and a beta of 1.03. Las Vegas Sands Corp. has a 12-month low of $30.18 and a 12-month high of $63.36. The company has a current ratio of 0.89, a quick ratio of 1.21 and a debt-to-equity ratio of 7.42.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, October 22nd. The casino operator reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.16. Las Vegas Sands had a net margin of 12.69% and a return on equity of 73.14%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the firm posted $0.44 EPS. The company’s revenue was up 24.2% on a year-over-year basis. Equities research analysts forecast that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Tuesday, November 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, November 4th. Las Vegas Sands’s dividend payout ratio is 45.25%.

Insider Activity

In related news, CEO Robert G. Goldstein sold 400,000 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $59.20, for a total value of $23,680,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 1,600,000 shares of company stock valued at $94,502,000 over the last quarter. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

LVS has been the subject of several recent research reports. Argus upped their target price on shares of Las Vegas Sands from $60.00 to $65.00 in a report on Tuesday, September 23rd. Susquehanna upped their price objective on 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 report on Sunday, September 7th. Bank of America boosted their price target on Las Vegas Sands from $52.50 to $58.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Morgan Stanley raised their price objective on Las Vegas Sands from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Las Vegas Sands presently has a consensus rating of “Moderate Buy” and an average target price of $64.13.

Las Vegas Sands 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.