Altrinsic Global Advisors LLC Sells 12,240 Shares of Las Vegas Sands Corp. $LVS

Key Points

• Altrinsic Global Advisors LLC has reduced its stake in Las Vegas Sands Corp. by 3.8%, now holding 309,922 shares valued at approximately $11.97 million.
• Wall Street analysts have increased their outlook on Las Vegas Sands, with multiple firms raising target prices and ratings, indicating strong investor confidence.
• Las Vegas Sands reported a quarterly earnings per share of $0.79, surpassing estimates, and announced a quarterly dividend of $0.25, reflecting consistent financial performance.

Altrinsic Global Advisors LLC reduced its position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 309,922 shares of the casino operator's stock after selling 12,240 shares during the period. Las Vegas Sands makes up about 0.6% of Altrinsic Global Advisors LLC's portfolio, making the stock its 25th biggest holding. Altrinsic Global Advisors LLC's holdings in Las Vegas Sands were worth $11,972,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Las Vegas Sands by 5.8% during the first quarter. Vanguard Group Inc. now owns 41,249,208 shares of the casino operator's stock worth $1,593,457,000 after buying an additional 2,267,307 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Las Vegas Sands by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,722,816 shares of the casino operator's stock worth $607,373,000 after acquiring an additional 592,321 shares during the period. Janus Henderson Group PLC raised its stake in Las Vegas Sands by 55.7% in the 4th quarter. Janus Henderson Group PLC now owns 14,218,581 shares of the casino operator's stock worth $730,295,000 after purchasing an additional 5,088,095 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Las Vegas Sands by 6.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,415,492 shares of the casino operator's stock valued at $479,610,000 after purchasing an additional 752,944 shares during the period. Finally, Invesco Ltd. boosted its holdings in Las Vegas Sands by 9.1% in the 1st quarter. Invesco Ltd. now owns 9,442,798 shares of the casino operator's stock valued at $364,775,000 after purchasing an additional 790,952 shares during the period. 39.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LVS. UBS Group lifted their price target on shares of Las Vegas Sands from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Thursday. Mizuho upped their target price on Las Vegas Sands from $47.00 to $56.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Citigroup restated a "buy" rating on shares of Las Vegas Sands in a research report on Wednesday, July 9th. Wall Street Zen raised Las Vegas Sands from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Bank of America increased their price objective on shares of Las Vegas Sands from $52.50 to $58.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.00.

Las Vegas Sands Price Performance

Las Vegas Sands stock traded up $1.00 during mid-day trading on Thursday, reaching $57.70. The company had a trading volume of 3,126,381 shares, compared to its average volume of 3,938,343. The business has a fifty day simple moving average of $50.49 and a 200 day simple moving average of $43.62. The company has a market cap of $39.61 billion, a P/E ratio of 29.14, a P/E/G ratio of 2.15 and a beta of 1.08. The company has a current ratio of 1.22, a quick ratio of 1.21 and a debt-to-equity ratio of 6.53. Las Vegas Sands Corp. has a fifty-two week low of $30.18 and a fifty-two week high of $57.74.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.26. Las Vegas Sands had a return on equity of 55.37% and a net margin of 12.16%.The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter last year, the business posted $0.55 EPS. Las Vegas Sands's revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities research analysts predict that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Tuesday, August 5th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.00 annualized dividend and a yield of 1.7%. Las Vegas Sands's dividend payout ratio (DPR) is currently 50.51%.

Las Vegas Sands Company Profile

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore.