Jain Global LLC Has $36.30 Million Position in Las Vegas Sands Corp. $LVS

Key Points

• Jain Global LLC increased its stake in Las Vegas Sands by 25% in Q3 to 674,891 shares—about $36.30 million, roughly 0.10% of the company.
• Las Vegas Sands beat quarterly expectations, reporting $0.85 EPS (vs. $0.77 est.) and $3.65B revenue (up 26% YoY), and raised its quarterly dividend to $0.30 (annualized $1.20, ~2.2% yield).
• Significant insider selling occurred recently—CEO Robert G. Goldstein sold 1,198,650 shares and Miriam Adelson sold 77,991 shares—while analysts hold a consensus "Moderate Buy" with a target near $68.55.

Jain Global LLC lifted its stake in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 25.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 674,891 shares of the casino operator's stock after buying an additional 134,844 shares during the quarter. Jain Global LLC owned about 0.10% of Las Vegas Sands worth $36,302,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LVS. Mackenzie Financial Corp raised its holdings in Las Vegas Sands by 0.3% in the 3rd quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator's stock valued at $2,902,000 after acquiring an additional 156 shares during the period. Westside Investment Management Inc. boosted its holdings in shares of Las Vegas Sands by 48.0% during the third quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator's stock worth $28,000 after acquiring an additional 166 shares during the period. Parallel Advisors LLC grew its position in shares of Las Vegas Sands by 7.8% in the third quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator's stock valued at $132,000 after purchasing an additional 177 shares during the last quarter. Alps Advisors Inc. grew its position in shares of Las Vegas Sands by 2.4% in the third quarter. Alps Advisors Inc. now owns 8,528 shares of the casino operator's stock valued at $459,000 after purchasing an additional 197 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its stake in shares of Las Vegas Sands by 0.3% during the second quarter. Horizon Kinetics Asset Management LLC now owns 61,993 shares of the casino operator's stock worth $2,697,000 after purchasing an additional 213 shares during the period. Institutional investors own 39.16% of the company's stock.

Las Vegas Sands Trading Down 0.0%

Shares of NYSE:LVS opened at $53.67 on Monday. The company has a market capitalization of $36.06 billion, a P/E ratio of 22.94, a P/E/G ratio of 1.37 and a beta of 0.88. Las Vegas Sands Corp. has a 1 year low of $30.18 and a 1 year high of $70.45. The company has a debt-to-equity ratio of 7.58, a current ratio of 1.14 and a quick ratio of 1.13. The business's 50 day simple moving average is $57.60 and its 200 day simple moving average is $58.94.

Las Vegas Sands (NYSE:LVS - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The casino operator reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.08. The firm had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.33 billion. Las Vegas Sands had a return on equity of 91.40% and a net margin of 12.50%.The company's revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. On average, research analysts anticipate that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Monday, February 9th were given a $0.30 dividend. The ex-dividend date was Monday, February 9th. This is an increase from Las Vegas Sands's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.2%. Las Vegas Sands's dividend payout ratio (DPR) is 51.28%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LVS. Wells Fargo & Company lifted their price target on Las Vegas Sands from $67.00 to $68.00 and gave the stock an "equal weight" rating in a report on Thursday, January 29th. The Goldman Sachs Group lowered their price objective on Las Vegas Sands from $80.00 to $73.00 and set a "buy" rating on the stock in a research report on Thursday, January 29th. Argus dropped their target price on Las Vegas Sands from $80.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 30th. UBS Group boosted their target price on shares of Las Vegas Sands from $67.00 to $68.00 and gave the company a "neutral" rating in a research report on Monday, December 8th. Finally, Citigroup upped their price target on shares of Las Vegas Sands from $75.50 to $76.75 and gave the company a "buy" rating in a research note on Thursday, December 11th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.55.

Insider Transactions at Las Vegas Sands

In other Las Vegas Sands news, major shareholder Miriam Adelson sold 77,991 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $67.56, for a total transaction of $5,269,071.96. Following the sale, the insider directly owned 23,333,441 shares in the company, valued at $1,576,407,273.96. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert G. Goldstein sold 1,198,650 shares of the firm's stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $66.68, for a total transaction of $79,925,982.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,327,991 shares of company stock valued at $88,665,287. 1.20% of the stock is owned by insiders.

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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