Caitong International Asset Management Co. Ltd Buys 6,468 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Key Points

• Caitong International Asset Management Co. Ltd increased its holdings in Las Vegas Sands Corp. by 4,900.0% in Q1, acquiring 6,468 additional shares, bringing its total to approximately $255,000 worth of shares.
• Las Vegas Sands reported a quarterly earnings per share (EPS) of $0.79, exceeding analyst expectations of $0.53, alongside a significant 15.0% year-over-year revenue increase to $3.18 billion.
• The company announced a stock repurchase plan authorizing the buyback of $2.00 billion worth of shares, indicating management's belief that the stock is undervalued.

Caitong International Asset Management Co. Ltd boosted its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 4,900.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,600 shares of the casino operator's stock after acquiring an additional 6,468 shares during the period. Caitong International Asset Management Co. Ltd's holdings in Las Vegas Sands were worth $255,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. MGO One Seven LLC grew its holdings in Las Vegas Sands by 5.3% during the 4th quarter. MGO One Seven LLC now owns 7,773 shares of the casino operator's stock worth $399,000 after acquiring an additional 388 shares in the last quarter. Empirical Finance LLC increased its stake in Las Vegas Sands by 4.8% during the first quarter. Empirical Finance LLC now owns 11,686 shares of the casino operator's stock worth $451,000 after purchasing an additional 532 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Las Vegas Sands by 2.6% during the first quarter. Exchange Traded Concepts LLC now owns 22,870 shares of the casino operator's stock worth $883,000 after buying an additional 569 shares during the period. State of Alaska Department of Revenue boosted its holdings in Las Vegas Sands by 1.4% in the first quarter. State of Alaska Department of Revenue now owns 40,250 shares of the casino operator's stock valued at $1,554,000 after purchasing an additional 570 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Las Vegas Sands by 2.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 26,848 shares of the casino operator's stock worth $1,037,000 after purchasing an additional 614 shares during the period. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Price Performance

Shares of NYSE LVS opened at $53.83 on Wednesday. The firm's 50-day simple moving average is $47.30 and its 200 day simple moving average is $42.72. The stock has a market cap of $36.95 billion, a P/E ratio of 27.19, a P/E/G ratio of 2.01 and a beta of 1.08. Las Vegas Sands Corp. has a fifty-two week low of $30.18 and a fifty-two week high of $56.60. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 6.53.

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

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

Las Vegas Sands Announces Dividend

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

Analyst Upgrades and Downgrades

LVS has been the topic of several analyst reports. The Goldman Sachs Group assumed coverage on Las Vegas Sands in a report on Monday, July 7th. They set a "neutral" rating and a $52.00 target price on the stock. Wall Street Zen raised Las Vegas Sands from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Morgan Stanley upped their target price on Las Vegas Sands from $47.00 to $50.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Barclays upped their target price on Las Vegas Sands from $57.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Hsbc Global Res upgraded Las Vegas Sands to a "strong-buy" rating in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Las Vegas Sands currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.33.

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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