Las Vegas Sands Corp. (NYSE:LVS) Shares Bought by Acadian Asset Management LLC

Posted by on Sep 3rd, 2023

Acadian Asset Management LLC raised its stake in Las Vegas Sands Corp. (NYSE:LVS – Free Report) by 765.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,082 shares of the casino operator’s stock after purchasing an additional 28,375 shares during the quarter. Acadian Asset Management LLC’s holdings in Las Vegas Sands were worth $1,841,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Las Vegas Sands by 1.5% during the first quarter. Vanguard Group Inc. now owns 35,537,902 shares of the casino operator’s stock worth $1,381,358,000 after purchasing an additional 519,620 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Las Vegas Sands by 4.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 33,393,752 shares of the casino operator’s stock worth $1,605,238,000 after buying an additional 1,539,069 shares during the period. State Street Corp boosted its position in shares of Las Vegas Sands by 2.9% in the first quarter. State Street Corp now owns 13,898,679 shares of the casino operator’s stock worth $540,242,000 after buying an additional 394,616 shares during the period. Fisher Asset Management LLC boosted its position in shares of Las Vegas Sands by 5,139.8% in the first quarter. Fisher Asset Management LLC now owns 9,242,005 shares of the casino operator’s stock worth $530,953,000 after buying an additional 9,065,624 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Las Vegas Sands by 8.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,145,152 shares of the casino operator’s stock valued at $439,607,000 after purchasing an additional 742,471 shares during the last quarter. 39.16% of the stock is currently owned by hedge funds and other institutional investors.

Las Vegas Sands Stock Performance

NYSE:LVS opened at $54.93 on Friday. The company has a current ratio of 2.76, a quick ratio of 2.75 and a debt-to-equity ratio of 3.57. The firm has a 50 day moving average of $56.81 and a 200-day moving average of $57.69. Las Vegas Sands Corp. has a 1 year low of $33.38 and a 1 year high of $65.58. The stock has a market capitalization of $41.99 billion, a P/E ratio of 784.71, a price-to-earnings-growth ratio of 5.78 and a beta of 1.17.

Las Vegas Sands (NYSE:LVS – Get Free Report) last announced its quarterly earnings results on Wednesday, July 19th. The casino operator reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Las Vegas Sands had a net margin of 0.75% and a return on equity of 5.73%. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the business earned ($0.34) EPS. The firm’s revenue was up 143.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Las Vegas Sands Corp. will post 1.87 EPS for the current fiscal year.

Las Vegas Sands Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Tuesday, August 8th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Monday, August 7th. Las Vegas Sands’s dividend payout ratio (DPR) is 1,142.86%.

Analyst Ratings Changes

Several brokerages have issued reports on LVS. JPMorgan Chase & Co. upped their price objective on Las Vegas Sands from $71.00 to $72.00 in a research note on Monday, June 26th. Argus decreased their price target on Las Vegas Sands from $72.00 to $68.00 in a research note on Friday, July 21st. Bank of America reduced their price objective on Las Vegas Sands from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, July 20th. Barclays reduced their target price on Las Vegas Sands from $70.00 to $69.00 in a report on Thursday, July 20th. Finally, StockNews.com began coverage on Las Vegas Sands in a report on Thursday, August 17th. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Las Vegas Sands currently has an average rating of “Moderate Buy” and an average price target of $70.81.

Get Our Latest Stock Report on LVS

About Las Vegas Sands

(Free Report)

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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Institutional Ownership by Quarter for Las Vegas Sands (NYSE:LVS)

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