Rakuten Investment Management Inc. Invests $2.26 Million in Las Vegas Sands Corp. $LVS

Rakuten Investment Management Inc. bought a new position in shares of Las Vegas Sands Corp. (NYSE:LVS) during the 2nd quarter, HoldingsChannel reports. The firm bought 48,796 shares of the casino operator’s stock, valued at approximately $2,263,000.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in Las Vegas Sands in the fourth quarter valued at about $26,000. DV Equities LLC purchased a new stake in shares of Las Vegas Sands during the fourth quarter worth about $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Las Vegas Sands during the fourth quarter worth about $29,000. Wilmington Savings Fund Society FSB raised its position in shares of Las Vegas Sands by 254.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator’s stock valued at $36,000 after purchasing an additional 400 shares during the last quarter. Finally, IFP Advisors Inc grew its position in Las Vegas Sands by 182.4% during the 3rd quarter. IFP Advisors Inc now owns 672 shares of the casino operator’s stock worth $36,000 after purchasing an additional 434 shares during the last quarter. 39.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LVS shares. Susquehanna cut their price target on shares of Las Vegas Sands from $64.00 to $63.00 and set a “positive” rating on the stock in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. reduced their target price on Las Vegas Sands from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. UBS Group set a $52.00 price target on Las Vegas Sands in a research note on Thursday, July 2nd. Bank of America cut their price objective on Las Vegas Sands from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. Finally, Argus lowered Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.88.

Las Vegas Sands Price Performance

NYSE:LVS opened at $45.22 on Monday. Las Vegas Sands Corp. has a one year low of $43.92 and a one year high of $70.45. The company has a debt-to-equity ratio of 15.27, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a market cap of $29.29 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.11 and a beta of 0.85. The firm’s fifty day moving average is $46.41 and its two-hundred day moving average is $50.97.

Las Vegas Sands (NYSE:LVS) last announced its quarterly 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 company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.31 billion. Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.Las Vegas Sands’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. Research analysts expect that Las Vegas Sands Corp. will post 3.09 EPS for the current year.

Las Vegas Sands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 4th. Las Vegas Sands’s dividend payout ratio (DPR) is 46.69%.

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.