Connor Clark & Lunn Investment Management Ltd. Invests $4.76 Million in Las Vegas Sands Corp. $LVS

Key Points

• Connor Clark & Lunn Investment Management acquired 102,967 Las Vegas Sands shares in the second quarter, valued at approximately $4.76 million. Institutional investors and hedge funds collectively own 39.16% of LVS.
• Analysts have reduced their price targets, with ratings spanning buy, hold, and sell; the consensus remains “Hold” with a target price of $61.88.
• LVS shares opened at $44.12, near their 52-week low, after the company missed quarterly earnings and revenue estimates. Las Vegas Sands maintained a quarterly dividend of $0.30 per share, yielding about 2.7% annually.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 102,967 shares of the casino operator's stock, valued at approximately $4,756,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LVS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Las Vegas Sands by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,251 shares of the casino operator's stock valued at $1,207,000 after acquiring an additional 2,418 shares during the period. Woodline Partners LP increased its stake in Las Vegas Sands by 38.9% during the first quarter. Woodline Partners LP now owns 29,032 shares of the casino operator's stock worth $1,122,000 after purchasing an additional 8,132 shares during the period. EverSource Wealth Advisors LLC increased its stake in Las Vegas Sands by 91.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,146 shares of the casino operator's stock worth $93,000 after purchasing an additional 1,027 shares during the period. Flow Traders U.S. LLC acquired a new stake in shares of Las Vegas Sands during the second quarter worth about $414,000. Finally, Cerity Partners LLC lifted its position in shares of Las Vegas Sands by 70.0% during the second quarter. Cerity Partners LLC now owns 17,595 shares of the casino operator's stock worth $766,000 after purchasing an additional 7,243 shares in the last quarter. Hedge funds and other institutional investors own 39.16% of the company's stock.

Analysts Set New Price Targets

LVS has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on shares of Las Vegas Sands from $65.00 to $53.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 14th. Morgan Stanley cut their target price on shares of Las Vegas Sands from $68.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Monday, July 27th. Citigroup reduced their target price on shares of Las Vegas Sands from $78.50 to $73.00 and set a "buy" rating on the stock in a report on Friday, July 10th. Bank of America decreased their price target on shares of Las Vegas Sands from $70.00 to $60.00 and set a "neutral" rating for the company in a research report on Monday, July 20th. Finally, Mizuho dropped their price target on shares of Las Vegas Sands from $67.00 to $61.00 and set an "outperform" rating for the company in a research note on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Las Vegas Sands presently has a consensus rating of "Hold" and a consensus price target of $61.88.

Las Vegas Sands Stock Down 4.6%

LVS stock opened at $44.12 on Friday. The company's 50 day moving average price is $46.48 and its 200 day moving average price is $51.06. The firm has a market capitalization of $28.57 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.14 and a beta of 0.85. Las Vegas Sands Corp. has a fifty-two week low of $43.92 and a fifty-two 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.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.The firm had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $3.31 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The firm's revenue was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that Las Vegas Sands Corp. will post 3.09 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Tuesday, August 4th were issued 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 was Tuesday, August 4th. Las Vegas Sands's dividend payout ratio (DPR) is presently 46.69%.

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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