Assenagon Asset Management S.A. Purchases Shares of 11,951 Las Vegas Sands Corp. $LVS

Key Points

• Assenagon Asset Management S.A. has purchased 11,951 shares of Las Vegas Sands Corp., valued at approximately $520,000, during the 2nd quarter.
• Las Vegas Sands recently reported a quarterly earnings per share (EPS) of $0.79, exceeding analyst estimates of $0.53, with a revenue of $3.18 billion.
• The firm announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 1.9%.

Assenagon Asset Management S.A. purchased a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,951 shares of the casino operator's stock, valued at approximately $520,000.

Several other hedge funds have also recently modified their holdings of LVS. Nuveen LLC bought a new position in shares of Las Vegas Sands in the first quarter worth about $183,836,000. Vanguard Group Inc. raised its position in shares of Las Vegas Sands by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 41,249,208 shares of the casino operator's stock valued at $1,593,457,000 after purchasing an additional 2,267,307 shares during the last quarter. ARGA Investment Management LP increased its holdings in Las Vegas Sands by 12.9% in the 1st quarter. ARGA Investment Management LP now owns 7,342,577 shares of the casino operator's stock worth $283,644,000 after buying an additional 841,195 shares during the period. Invesco Ltd. increased its holdings in Las Vegas Sands by 9.1% in the 1st quarter. Invesco Ltd. now owns 9,442,798 shares of the casino operator's stock worth $364,775,000 after buying an additional 790,952 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Las Vegas Sands by 6.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,415,492 shares of the casino operator's stock worth $479,610,000 after purchasing an additional 752,944 shares during the period. Hedge funds and other institutional investors own 39.16% of the company's stock.

Las Vegas Sands Stock Performance

Shares of LVS opened at $53.98 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.21 and a debt-to-equity ratio of 6.53. The firm has a market cap of $37.05 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. The company's 50 day simple moving average is $53.52 and its 200-day simple moving average is $45.08. Las Vegas Sands Corp. has a 12-month low of $30.18 and a 12-month high of $58.05.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.26. The business had revenue of $3.18 billion for 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% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. As a group, equities analysts predict that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. Las Vegas Sands's dividend payout ratio (DPR) is 50.51%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LVS. JPMorgan Chase & Co. increased their target price on Las Vegas Sands from $47.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wall Street Zen raised Las Vegas Sands from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Bank of America boosted their price target on shares of Las Vegas Sands from $52.50 to $58.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. The Goldman Sachs Group began coverage on shares of Las Vegas Sands in a research note on Monday, July 7th. They set a "neutral" rating and a $52.00 target price on the stock. Finally, Argus upped their price target on Las Vegas Sands from $60.00 to $65.00 in a report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Las Vegas Sands has an average rating of "Moderate Buy" and an average price target of $59.80.

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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