Allianz Asset Management GmbH Acquires 7,245 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Key Points

• Allianz Asset Management GmbH increased its stake in Las Vegas Sands by 12.9%, acquiring an additional 7,245 shares and bringing its total holdings to 63,366 shares valued at approximately $2.45 million.
• Las Vegas Sands' stock received favorable ratings from multiple analysts, with target price increases from firms like Mizuho, Bank of America, and UBS, highlighting a positive outlook for the company's performance.
• The company reported a significant increase in quarterly earnings, with an EPS of $0.79, surpassing estimates by $0.26, supported by strong revenue growth of 15% year-over-year.

Allianz Asset Management GmbH raised its stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,366 shares of the casino operator's stock after acquiring an additional 7,245 shares during the quarter. Allianz Asset Management GmbH's holdings in Las Vegas Sands were worth $2,448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Achmea Investment Management B.V. lifted its stake in Las Vegas Sands by 55.4% in the 1st quarter. Achmea Investment Management B.V. now owns 31,411 shares of the casino operator's stock valued at $1,213,000 after purchasing an additional 11,197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Las Vegas Sands by 18.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,005 shares of the casino operator's stock valued at $1,489,000 after purchasing an additional 6,057 shares during the last quarter. Polymer Capital Management HK LTD bought a new position in Las Vegas Sands in the 4th quarter valued at approximately $2,311,000. Northern Trust Corp lifted its stake in Las Vegas Sands by 12.4% in the 4th quarter. Northern Trust Corp now owns 3,088,597 shares of the casino operator's stock valued at $158,630,000 after purchasing an additional 339,992 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Las Vegas Sands by 0.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,192,285 shares of the casino operator's stock valued at $61,236,000 after purchasing an additional 10,544 shares during the last quarter. Institutional investors and hedge funds own 39.16% of the company's stock.

Las Vegas Sands Trading Down 0.2%

NYSE:LVS traded down $0.11 during midday trading on Friday, reaching $52.29. 5,585,751 shares of the stock traded hands, compared to its average volume of 4,978,896. The company has a fifty day moving average of $45.66 and a 200 day moving average of $42.31. Las Vegas Sands Corp. has a 12 month low of $30.18 and a 12 month high of $56.60. The company has a debt-to-equity ratio of 6.53, a quick ratio of 0.59 and a current ratio of 1.22. The stock has a market capitalization of $35.89 billion, a P/E ratio of 26.41, a PEG ratio of 2.04 and a beta of 1.08.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The casino operator reported $0.79 EPS for the quarter, topping the consensus estimate of $0.53 by $0.26. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $2.83 billion. Las Vegas Sands had a net margin of 12.16% and a return on equity of 55.37%. The company's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 EPS. On average, research analysts predict that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 13th. Investors of record on Tuesday, August 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, August 5th. Las Vegas Sands's dividend payout ratio is 50.51%.

Las Vegas Sands announced that its Board of Directors has initiated a share repurchase plan on Wednesday, April 23rd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the casino operator to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LVS shares. Stifel Nicolaus set a $57.00 price target on shares of Las Vegas Sands and gave the company a "buy" rating in a research note on Thursday, April 24th. UBS Group raised their price target on shares of Las Vegas Sands from $48.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday. Argus upgraded shares of Las Vegas Sands from a "hold" rating to a "buy" rating and set a $60.00 price objective for the company in a report on Monday. Wall Street Zen upgraded shares of Las Vegas Sands from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, The Goldman Sachs Group initiated coverage on shares of Las Vegas Sands in a research report on Monday, July 7th. They issued a "neutral" rating and a $52.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.13.

About Las Vegas Sands

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.