Jupiter Topco LLC Purchases New Holdings in Las Vegas Sands Corp. $LVS

Key Points

• Jupiter Topco LLC acquired 43,018 shares of Las Vegas Sands during the second quarter, valued at approximately $1.99 million. Other institutional investors also increased their positions, with institutions collectively owning 39.16% of the stock.
• Las Vegas Sands reported quarterly EPS of $0.59, missing the $0.76 consensus estimate, while revenue of $3.15 billion fell short of expectations and declined 0.7% year over year.
• The company paid a quarterly dividend of $0.30 per share, representing a 2.7% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $61.88 versus the stock’s reported price of $44.54.

Jupiter Topco LLC purchased a new position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 43,018 shares of the casino operator's stock, valued at approximately $1,987,000.

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

Las Vegas Sands Stock Performance

Las Vegas Sands stock opened at $44.54 on Friday. Las Vegas Sands Corp. has a 1-year low of $43.36 and a 1-year high of $70.45. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27. The firm has a market capitalization of $28.85 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.10 and a beta of 0.83. The firm's 50 day simple moving average is $46.15 and its 200 day simple moving average is $50.61.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $3.31 billion. During the same period in the previous year, the company posted $0.66 EPS. The company's revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts expect that Las Vegas Sands Corp. will post 3.09 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

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. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, August 4th. Las Vegas Sands's dividend payout ratio is currently 46.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LVS shares. Wells Fargo & Company lowered their price objective on Las Vegas Sands from $65.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 14th. Argus lowered shares of Las Vegas Sands from a "buy" rating to a "hold" rating in a research report on Thursday, July 30th. Citigroup lowered their price target on shares of Las Vegas Sands from $78.50 to $73.00 and set a "buy" rating on the stock in a research report on Friday, July 10th. Bank of America dropped their price target on shares of Las Vegas Sands from $70.00 to $60.00 and set a "neutral" rating on the stock in a research note on Monday, July 20th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Las Vegas Sands in a report on Friday, August 21st. Ten analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Las Vegas Sands presently has a consensus rating of "Hold" and a consensus target price of $61.88.

About Las Vegas Sands

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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