DAVENPORT & Co LLC boosted its stake in Las Vegas Sands Corp. (NYSE:LVS – Free Report) by 7.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,828 shares of the casino operator’s stock after buying an additional 478 shares during the period. DAVENPORT & Co LLC’s holdings in Las Vegas Sands were worth $396,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. ZRC Wealth Management LLC acquired a new position in Las Vegas Sands in the 1st quarter valued at about $29,000. Ameritas Advisory Services LLC acquired a new position in shares of Las Vegas Sands during the 1st quarter worth approximately $32,000. Retirement Group LLC acquired a new position in shares of Las Vegas Sands during the 4th quarter worth approximately $31,000. Parkside Financial Bank & Trust grew its position in shares of Las Vegas Sands by 123.7% during the 1st quarter. Parkside Financial Bank & Trust now owns 671 shares of the casino operator’s stock worth $39,000 after purchasing an additional 371 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its position in shares of Las Vegas Sands by 83,900.0% during the 1st quarter. Dark Forest Capital Management LP now owns 840 shares of the casino operator’s stock worth $48,000 after purchasing an additional 839 shares in the last quarter. Institutional investors and hedge funds own 39.16% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on LVS shares. Stifel Nicolaus increased their target price on shares of Las Vegas Sands from $73.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. JPMorgan Chase & Co. decreased their target price on shares of Las Vegas Sands from $71.00 to $64.00 in a research report on Tuesday, September 26th. StockNews.com started coverage on shares of Las Vegas Sands in a research report on Thursday. They set a “hold” rating on the stock. Bank of America reduced their price target on shares of Las Vegas Sands from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, July 20th. Finally, Argus reduced their price target on shares of Las Vegas Sands from $72.00 to $68.00 in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.12.
Las Vegas Sands Price Performance
Shares of NYSE:LVS opened at $45.53 on Friday. The company has a market cap of $34.81 billion, a price-to-earnings ratio of 650.43, a PEG ratio of 4.97 and a beta of 1.22. The company has a debt-to-equity ratio of 3.57, a current ratio of 2.76 and a quick ratio of 2.75. The firm has a 50 day simple moving average of $51.65 and a 200 day simple moving average of $56.10. Las Vegas Sands Corp. has a one year low of $33.38 and a one year high of $65.58.
Las Vegas Sands (NYSE:LVS – Get Free Report) last issued its quarterly earnings data on Wednesday, July 19th. The casino operator reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.41 billion. Las Vegas Sands had a net margin of 0.75% and a return on equity of 5.73%. The firm’s revenue was up 143.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.34) EPS. Research analysts predict that Las Vegas Sands Corp. will post 1.87 earnings per share for the current fiscal year.
Las Vegas Sands Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Tuesday, August 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, August 7th. Las Vegas Sands’s payout ratio is currently 1,142.86%.
Las Vegas Sands 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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