PDT Partners LLC Takes Position in Las Vegas Sands Corp. $LVS

PDT Partners LLC purchased a new position in shares of Las Vegas Sands Corp. (NYSE:LVS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,015 shares of the casino operator’s stock, valued at approximately $1,386,000.

Several other hedge funds have also made changes to their positions in the business. Canada Pension Plan Investment Board acquired a new stake in shares of Las Vegas Sands in the second quarter worth $67,068,000. Legal & General Group Plc acquired a new position in Las Vegas Sands in the 2nd quarter valued at about $83,696,000. The Manufacturers Life Insurance Company purchased a new stake in Las Vegas Sands in the 2nd quarter valued at about $107,407,000. Manning & Napier Advisors LLC acquired a new position in Las Vegas Sands during the 2nd quarter worth about $3,875,000. Finally, L2 Asset Management LLC acquired a new stake in shares of Las Vegas Sands in the second quarter valued at $2,166,000. Institutional investors and hedge funds own 39.16% of the company’s stock.

Las Vegas Sands Stock Performance

Shares of LVS stock opened at $46.24 on Thursday. The stock’s 50-day moving average price is $46.57 and its 200 day moving average price is $51.15. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 15.27. The stock has a market capitalization of $29.95 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85. Las Vegas Sands Corp. has a 52-week low of $44.21 and a 52-week high of $70.45.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, equities research analysts forecast that Las Vegas Sands Corp. will post 3.09 EPS for the current year.

Las Vegas Sands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 4th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 46.69%.

Analysts Set New Price Targets

A number of analysts have weighed in on LVS shares. Mizuho cut their price objective on shares of Las Vegas Sands from $67.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. UBS Group set a $52.00 target price on shares of Las Vegas Sands in a report on Thursday, July 2nd. The Goldman Sachs Group dropped their target price on shares of 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. HC Wainwright lowered shares of Las Vegas Sands to a “neutral” rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company reduced their price target on shares of Las Vegas Sands from $65.00 to $53.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 14th. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Las Vegas Sands presently has a consensus rating of “Hold” and an average target price 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.