Corient Private Wealth LP Makes New Investment in Las Vegas Sands Corp. $LVS

Corient Private Wealth LP bought a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 73,704 shares of the casino operator’s stock, valued at approximately $3,404,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of Las Vegas Sands by 222.7% during the 4th quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator’s stock worth $592,223,000 after acquiring an additional 6,279,390 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Las Vegas Sands by 4.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,582,962 shares of the casino operator’s stock valued at $462,450,000 after acquiring an additional 396,705 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Las Vegas Sands by 18.7% in the 4th quarter. Bank of New York Mellon Corp now owns 7,893,031 shares of the casino operator’s stock worth $513,757,000 after purchasing an additional 1,246,206 shares during the last quarter. Norges Bank acquired a new stake in Las Vegas Sands in the 4th quarter worth approximately $364,892,000. Finally, Bamco Inc. NY bought a new stake in Las Vegas Sands during the second quarter worth approximately $174,796,000. Institutional investors and hedge funds own 39.16% of the company’s stock.

Las Vegas Sands Stock Performance

LVS opened at $43.78 on Wednesday. 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’s 50 day moving average price is $46.25 and its two-hundred day moving average price is $50.78. The firm has a market capitalization of $28.36 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. Las Vegas Sands Corp. has a 12-month low of $43.36 and a 12-month high of $70.45.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts forecast that Las Vegas Sands Corp. will post 3.09 earnings per share 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 given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. Las Vegas Sands’s payout ratio is 46.69%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Las Vegas Sands in a report on Friday, August 21st. Susquehanna decreased their price objective on shares of Las Vegas Sands from $64.00 to $63.00 and set a “positive” rating for the company in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $62.00 price objective (down from $73.00) on shares of Las Vegas Sands in a report on Thursday, July 23rd. Wall Street Zen lowered shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, HC Wainwright downgraded shares of Las Vegas Sands to a “neutral” rating in a report on Thursday, July 30th. Ten 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’s stock. Based on data from MarketBeat, the company 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.