235,216 Shares in Las Vegas Sands Corp. $LVS Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 235,216 shares of Las Vegas Sands in the second quarter, valued at approximately $10.9 million. Institutional investors and hedge funds collectively own 39.16% of the company.
• Analyst sentiment is mixed, with ten Buy ratings, eight Holds, and one Sell; the consensus rating is Hold with an average price target of $61.88.
• Las Vegas Sands missed quarterly earnings and revenue expectations, reporting $0.59 EPS versus $0.76 expected and $3.15 billion in revenue versus $3.31 billion forecast. The company continues to pay a $0.30 quarterly dividend, yielding about 2.7% annually.

Empowered Funds LLC bought a new stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 235,216 shares of the casino operator's stock, valued at approximately $10,865,000.

A number of other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in Las Vegas Sands by 222.7% in the 4th quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator's stock valued at $592,223,000 after buying an additional 6,279,390 shares during the last quarter. Norges Bank bought a new stake in Las Vegas Sands during the 4th quarter worth approximately $364,892,000. Arrowstreet Capital Limited Partnership increased its position in Las Vegas Sands by 410.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator's stock valued at $277,963,000 after acquiring an additional 4,154,753 shares during the period. Bamco Inc. NY acquired a new position in Las Vegas Sands in the 2nd quarter valued at approximately $174,796,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Las Vegas Sands during the second quarter valued at $107,407,000. 39.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LVS has been the topic of a number of recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Las Vegas Sands in a report on Friday, August 21st. UBS Group set a $52.00 target price on Las Vegas Sands in a research report on Thursday, July 2nd. Susquehanna cut their target price on Las Vegas Sands from $64.00 to $63.00 and set a "positive" rating on the stock in a report on Wednesday, July 22nd. Citigroup reduced their price target on Las Vegas Sands from $78.50 to $73.00 and set a "buy" rating on the stock in a research report on Friday, July 10th. Finally, Zacks Research cut Las Vegas Sands from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $61.88.

Las Vegas Sands Trading Up 2.2%

NYSE:LVS opened at $45.22 on Friday. Las Vegas Sands Corp. has a 52 week low of $43.92 and a 52 week high of $70.45. The company has a debt-to-equity ratio of 15.27, a quick ratio of 0.99 and a current ratio of 1.00. The firm's fifty day moving average is $46.41 and its 200-day moving average is $51.02. The firm has a market cap of $29.29 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.11 and a beta of 0.85.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share 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 the consensus estimate of $3.31 billion. Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.Las Vegas Sands's quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. Equities analysts expect that Las Vegas Sands Corp. will post 3.09 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Tuesday, August 4th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 4th. Las Vegas Sands's payout ratio is currently 46.69%.

About Las Vegas Sands

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.

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