Las Vegas Sands Corp. $LVS Position Lessened by Patton Fund Management Inc.

Key Points

• Patton Fund Management cut its stake in Las Vegas Sands by 92.1% in the first quarter, selling 62,515 shares and leaving it with 5,352 shares worth about $288,000.
• Other institutional investors were mixed on LVS, with some adding shares while others trimmed positions; overall, about 39.16% of the stock is held by institutions and hedge funds.
• Las Vegas Sands reported strong quarterly results, beating expectations with EPS of $0.91 and revenue of $3.58 billion. The company also pays a quarterly dividend of $0.30 per share, yielding about 2.6%.

Patton Fund Management Inc. lowered its position in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 92.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,352 shares of the casino operator's stock after selling 62,515 shares during the quarter. Patton Fund Management Inc.'s holdings in Las Vegas Sands were worth $288,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LVS. Janney Montgomery Scott LLC increased its position in Las Vegas Sands by 206.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 39,686 shares of the casino operator's stock worth $2,138,000 after purchasing an additional 26,725 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Las Vegas Sands by 1.8% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 1,574,544 shares of the casino operator's stock valued at $84,836,000 after buying an additional 27,267 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Las Vegas Sands in the 1st quarter valued at approximately $830,000. Kestra Private Wealth Services LLC grew its stake in shares of Las Vegas Sands by 25.0% in the 1st quarter. Kestra Private Wealth Services LLC now owns 8,575 shares of the casino operator's stock valued at $462,000 after buying an additional 1,716 shares in the last quarter. Finally, Ritholtz Wealth Management increased its holdings in Las Vegas Sands by 44.2% in the first quarter. Ritholtz Wealth Management now owns 24,138 shares of the casino operator's stock worth $1,301,000 after buying an additional 7,404 shares during the last quarter. 39.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LVS has been the subject of several recent research reports. Barclays boosted their target price on shares of Las Vegas Sands from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Weiss Ratings downgraded shares of Las Vegas Sands from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 26th. UBS Group reduced their price objective on shares of Las Vegas Sands from $69.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, June 4th. Wells Fargo & Company decreased their price objective on shares of Las Vegas Sands from $68.00 to $65.00 and set an "equal weight" rating for the company in a report on Thursday, April 16th. Finally, Morgan Stanley increased their target price on shares of Las Vegas Sands from $67.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 23rd. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.91.

Las Vegas Sands Price Performance

NYSE LVS opened at $46.37 on Tuesday. Las Vegas Sands Corp. has a 1 year low of $43.20 and a 1 year high of $70.45. The company has a fifty day simple moving average of $51.17 and a 200 day simple moving average of $55.82. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 8.64. The company has a market cap of $30.72 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.07 and a beta of 0.81.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its earnings results on Wednesday, April 22nd. The casino operator reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.15. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.32 billion. Las Vegas Sands had a net margin of 13.41% and a return on equity of 118.27%. The business's revenue was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. On average, sell-side analysts predict that Las Vegas Sands Corp. will post 3.38 EPS for the current year.

Las Vegas Sands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Tuesday, May 5th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Las Vegas Sands's payout ratio is currently 44.44%.

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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