ExodusPoint Capital Management LP lowered its position in Las Vegas Sands Corp. (NYSE:LVS – Free Report) by 9.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 395,636 shares of the casino operator’s stock after selling 40,491 shares during the period. ExodusPoint Capital Management LP owned 0.05% of Las Vegas Sands worth $22,947,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of LVS. Spire Wealth Management grew its holdings in Las Vegas Sands by 197.4% during the 2nd quarter. Spire Wealth Management now owns 452 shares of the casino operator’s stock worth $26,000 after acquiring an additional 300 shares during the period. ZRC Wealth Management LLC acquired a new stake in Las Vegas Sands during the first quarter worth approximately $29,000. Capital Advisors Ltd. LLC increased its holdings in Las Vegas Sands by 434.7% in the second quarter. Capital Advisors Ltd. LLC now owns 524 shares of the casino operator’s stock worth $30,000 after purchasing an additional 426 shares in the last quarter. Retirement Group LLC acquired a new position in Las Vegas Sands in the fourth quarter valued at approximately $31,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Las Vegas Sands during the 1st quarter worth approximately $32,000. 39.16% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on LVS shares. JPMorgan Chase & Co. lowered their price objective on shares of Las Vegas Sands from $71.00 to $64.00 in a research note on Tuesday, September 26th. UBS Group raised their target price on Las Vegas Sands from $71.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com began coverage on Las Vegas Sands in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Stifel Nicolaus boosted their price objective on Las Vegas Sands from $69.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Morgan Stanley decreased their price target on shares of Las Vegas Sands from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Friday, October 13th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.68.
Las Vegas Sands Stock Performance
Shares of NYSE:LVS traded up $0.38 during mid-day trading on Monday, reaching $49.46. The company had a trading volume of 1,118,528 shares, compared to its average volume of 4,546,557. The company’s 50-day moving average price is $47.02 and its 200-day moving average price is $53.68. Las Vegas Sands Corp. has a one year low of $41.42 and a one year high of $65.58. The firm has a market cap of $37.81 billion, a price-to-earnings ratio of 55.77, a PEG ratio of 3.65 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 2.82.
Las Vegas Sands (NYSE:LVS – Get Free Report) last posted its quarterly earnings results on Wednesday, October 18th. The casino operator reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Las Vegas Sands had a return on equity of 21.05% and a net margin of 7.81%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the company earned ($0.27) EPS. The firm’s quarterly revenue was up 178.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Las Vegas Sands Corp. will post 1.91 EPS for the current fiscal year.
Las Vegas Sands Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Tuesday, November 7th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, November 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.62%. Las Vegas Sands’s payout ratio is 90.91%.
Las Vegas Sands declared that its board has approved a share buyback program on Wednesday, October 18th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the casino operator to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Las Vegas Sands Company 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.
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