Assenagon Asset Management S.A. Trims Stock Holdings in Las Vegas Sands Corp. $LVS

Key Points

• Assenagon Asset Management cut its stake in Las Vegas Sands by 50.4% in the first quarter, selling 574,781 shares and leaving it with 566,645 shares worth about $30.5 million.
• Las Vegas Sands reported strong quarterly results, with EPS of $0.91 beating estimates and revenue of $3.58 billion topping expectations; revenue rose 25.3% year over year.
• Analyst sentiment remains mixed but constructive: the stock carries a Moderate Buy consensus rating, though several firms recently trimmed targets and one downgraded the shares to hold.

Assenagon Asset Management S.A. cut its position in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 50.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566,645 shares of the casino operator's stock after selling 574,781 shares during the quarter. Assenagon Asset Management S.A. owned about 0.09% of Las Vegas Sands worth $30,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of LVS. PKO Investment Management Joint Stock Co increased its stake in Las Vegas Sands by 20.0% in the first quarter. PKO Investment Management Joint Stock Co now owns 30,000 shares of the casino operator's stock valued at $1,616,000 after acquiring an additional 5,000 shares during the last quarter. Brookstone Capital Management lifted its stake in Las Vegas Sands by 0.4% in the first quarter. Brookstone Capital Management now owns 223,670 shares of the casino operator's stock worth $12,051,000 after acquiring an additional 993 shares during the period. SG Americas Securities LLC increased its position in Las Vegas Sands by 74.2% during the 1st quarter. SG Americas Securities LLC now owns 1,529,236 shares of the casino operator's stock valued at $82,395,000 after purchasing an additional 651,214 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Las Vegas Sands by 9.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 8,569 shares of the casino operator's stock valued at $558,000 after purchasing an additional 764 shares in the last quarter. Finally, World Investment Advisors purchased a new stake in shares of Las Vegas Sands in the fourth quarter worth $210,000. 39.16% of the stock is currently owned by institutional investors.

Las Vegas Sands Stock Up 1.9%

Shares of NYSE LVS opened at $47.15 on Friday. Las Vegas Sands Corp. has a 1 year low of $43.20 and a 1 year high of $70.45. The company has a debt-to-equity ratio of 8.64, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market capitalization of $31.24 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.05 and a beta of 0.81. The company has a 50 day simple moving average of $51.38 and a 200-day simple moving average of $56.04.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The casino operator reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.15. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. The firm's quarterly revenue was up 25.3% compared to the same quarter last year. On average, equities research analysts predict that Las Vegas Sands Corp. will post 3.38 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, May 5th. Las Vegas Sands's dividend payout ratio is 44.44%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Las Vegas Sands from a "buy" rating to a "hold" rating in a research note on Saturday, May 23rd. Jefferies Financial Group boosted their target price on shares of Las Vegas Sands from $61.00 to $63.00 and gave the stock a "hold" rating in a report on Thursday, April 23rd. UBS Group dropped their target price on shares of Las Vegas Sands from $69.00 to $62.00 and set a "neutral" rating for the company in a research report on Thursday, June 4th. Wells Fargo & Company reduced their price target on shares of Las Vegas Sands from $68.00 to $65.00 and set an "equal weight" rating on the stock in a report on Thursday, April 16th. Finally, Seaport Research Partners cut their price objective on Las Vegas Sands from $72.00 to $69.00 and set a "buy" rating for the company in a research report on Tuesday, April 21st. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.91.

Las Vegas Sands Company Profile

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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