Las Vegas Sands Corp. $LVS Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al dramatically increased its stake in Las Vegas Sands, boosting holdings by 2,990.3% in the fourth quarter to 349,200 shares worth about $22.7 million.
• CEO Patrick Dumont sold 60,165 shares at an average price of $54.75, trimming his position by 10.52% while still holding over 511,000 shares.
• Las Vegas Sands reported strong quarterly results, with EPS of $0.91 beating estimates and revenue rising 25.3% year over year; analysts currently rate the stock a Moderate Buy with an average target price of $68.28.

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 2,990.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 349,200 shares of the casino operator's stock after buying an additional 337,900 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.05% of Las Vegas Sands worth $22,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mackenzie Financial Corp increased its stake in shares of Las Vegas Sands by 0.3% in the 3rd quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator's stock worth $2,902,000 after acquiring an additional 156 shares during the last quarter. Westside Investment Management Inc. increased its stake in shares of Las Vegas Sands by 48.0% in the 3rd 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 last quarter. Parallel Advisors LLC increased its stake in shares of Las Vegas Sands by 7.8% in the 3rd quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator's stock worth $132,000 after acquiring an additional 177 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Las Vegas Sands by 2.4% in the 3rd quarter. Alps Advisors Inc. now owns 8,528 shares of the casino operator's stock worth $459,000 after acquiring an additional 197 shares during the last quarter. Finally, United Capital Financial Advisors LLC increased its stake in shares of 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 during the last quarter. 39.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Las Vegas Sands

In related news, CEO Patrick Dumont sold 60,165 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $54.75, for a total transaction of $3,294,033.75. Following the transaction, the chief executive officer owned 511,942 shares of the company's stock, valued at approximately $28,028,824.50. This represents a 10.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on Las Vegas Sands from $67.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. The Goldman Sachs Group cut their target price on Las Vegas Sands from $80.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, January 29th. Wall Street Zen downgraded Las Vegas Sands from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 14th. Citigroup raised their target price on Las Vegas Sands from $76.75 to $78.50 and gave the stock a "buy" rating in a research note on Monday, April 13th. Finally, HSBC upped their price target on Las Vegas Sands from $73.00 to $78.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.28.

Las Vegas Sands Stock Performance

Shares of Las Vegas Sands stock opened at $51.30 on Thursday. Las Vegas Sands Corp. has a 52 week low of $39.29 and a 52 week high of $70.45. The business's fifty day simple moving average is $54.16 and its 200-day simple moving average is $59.25. The firm has a market cap of $33.99 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 1.17 and a beta of 0.85. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 8.64.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The casino operator reported $0.91 EPS for the quarter, beating the consensus estimate of $0.76 by $0.15. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the prior year, the company posted $0.59 EPS. The company's quarterly revenue was up 25.3% on a year-over-year basis. Equities analysts forecast that Las Vegas Sands Corp. will post 3.38 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Tuesday, May 5th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, May 5th. Las Vegas Sands's dividend payout ratio is 44.44%.

Las Vegas Sands 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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