Corient Private Wealth LP Purchases New Holdings in Las Vegas Sands Corp. $LVS

Key Points

• Corient Private Wealth acquired 73,704 shares of Las Vegas Sands in the second quarter, valued at approximately $3.4 million. Institutional investors and hedge funds collectively own 39.16% of the company.
• Analysts have reduced their price targets, with the consensus rating at “Hold” and an average target price of $61.88. Ratings include 10 Buys, eight Holds, and one Sell.
• Las Vegas Sands reported quarterly EPS of $0.59, missing estimates of $0.76, while revenue of $3.15 billion also fell short of expectations. The company maintains a quarterly dividend of $0.30, equivalent to a 2.7% annual yield.

Corient Private Wealth LP acquired a new position in Las Vegas Sands Corp. (NYSE:LVS - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 73,704 shares of the casino operator's stock, valued at approximately $3,404,000.

Other large investors also recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its position in shares of Las Vegas Sands by 0.3% in the third quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator's stock worth $2,902,000 after buying an additional 156 shares during the period. Parallel Advisors LLC raised its position in Las Vegas Sands by 7.8% during the third quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator's stock valued at $132,000 after buying an additional 177 shares during the period. &PARTNERS raised its position in Las Vegas Sands by 3.2% during the fourth quarter. &PARTNERS now owns 6,930 shares of the casino operator's stock valued at $453,000 after buying an additional 214 shares during the period. Pension & Wealth Management Advisors Inc. lifted its stake in Las Vegas Sands by 13.9% in the 2nd quarter. Pension & Wealth Management Advisors Inc. now owns 2,012 shares of the casino operator's stock worth $93,000 after acquiring an additional 245 shares in the last quarter. Finally, United Capital Financial Advisors LLC lifted its stake in Las Vegas Sands by 5.5% in the 3rd quarter. United Capital Financial Advisors LLC now owns 4,945 shares of the casino operator's stock worth $266,000 after acquiring an additional 258 shares in the last quarter. 39.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LVS has been the topic of several research analyst reports. Barclays lowered their target price on Las Vegas Sands from $63.00 to $59.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Wall Street Zen lowered shares of Las Vegas Sands from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Citigroup decreased their price target on shares of Las Vegas Sands from $78.50 to $73.00 and set a "buy" rating for the company in a report on Friday, July 10th. JPMorgan Chase & Co. dropped their price objective on shares of Las Vegas Sands from $64.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Finally, Bank of America cut their target price 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. Ten investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $61.88.

Las Vegas Sands Stock Down 0.1%

LVS opened at $43.78 on Wednesday. Las Vegas Sands Corp. has a fifty-two week low of $43.36 and a fifty-two week high of $70.45. The business has a 50-day moving average of $46.25 and a 200-day moving average of $50.78. The company has a debt-to-equity ratio of 15.27, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market capitalization of $28.36 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83.

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

Las Vegas Sands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Tuesday, August 4th were paid a $0.30 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. Las Vegas Sands's payout ratio is 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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