Edgestream Partners L.P. Raises Stake in Las Vegas Sands Corp. $LVS

Edgestream Partners L.P. increased its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS) by 373.7% in the first quarter, Holdings Channel reports. The firm owned 145,011 shares of the casino operator’s stock after acquiring an additional 114,400 shares during the period. Edgestream Partners L.P.’s holdings in Las Vegas Sands were worth $7,813,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LVS. AQR Capital Management LLC lifted its position in Las Vegas Sands by 222.7% during the fourth quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator’s stock valued at $592,223,000 after buying an additional 6,279,390 shares in the last quarter. Norges Bank purchased a new stake in Las Vegas Sands during the fourth quarter worth approximately $364,892,000. Arrowstreet Capital Limited Partnership increased its position in shares of Las Vegas Sands by 410.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator’s stock worth $277,963,000 after acquiring an additional 4,154,753 shares in the last quarter. M&T Bank Corp increased its position in shares of Las Vegas Sands by 33,102.6% in the fourth quarter. M&T Bank Corp now owns 3,060,288 shares of the casino operator’s stock worth $197,463,000 after acquiring an additional 3,051,071 shares in the last quarter. Finally, Amundi raised its stake in shares of Las Vegas Sands by 157.2% in the 1st quarter. Amundi now owns 2,864,789 shares of the casino operator’s stock valued at $154,355,000 after acquiring an additional 1,750,758 shares during the period. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Trading Up 0.7%

LVS opened at $48.60 on Thursday. The firm’s 50 day moving average is $48.13 and its 200-day moving average is $52.84. Las Vegas Sands Corp. has a 52-week low of $44.21 and a 52-week high of $70.45. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 15.27. The firm has a market capitalization of $31.48 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.26 and a beta of 0.83.

Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.17). The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. Las Vegas Sands’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 earnings per share. Analysts expect that Las Vegas Sands Corp. will post 3.13 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Tuesday, August 4th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. Las Vegas Sands’s dividend payout ratio is presently 46.69%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LVS shares. Barclays reduced their target price on shares of Las Vegas Sands from $63.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Bank of America lowered their price target on Las Vegas Sands from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Monday, July 20th. The Goldman Sachs Group cut their price objective on Las Vegas Sands from $63.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $62.00 price objective (down from $73.00) on shares of Las Vegas Sands in a research note on Thursday, July 23rd. Finally, Seaport Research Partners decreased their target price on Las Vegas Sands from $72.00 to $69.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Las Vegas Sands presently has a consensus rating of “Moderate Buy” and an average price target of $61.88.

Las Vegas Sands Profile

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.