Armistice Capital LLC Has $4.67 Million Holdings in Las Vegas Sands Corp. $LVS

Key Points

• Armistice Capital LLC reduced its stake in Las Vegas Sands Corp. by 19.2% in the first quarter, now holding 120,822 shares valued at approximately $4,667,000.
• Las Vegas Sands reported a quarterly earnings per share (EPS) of $0.79, exceeding analysts' predictions by $0.26, with revenue reaching $3.18 billion, up 15.0% year-over-year.
• The company announced a quarterly dividend of $0.25, translating to an annual yield of 1.7%, and has a payout ratio of 50.51%.

Armistice Capital LLC lowered its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 19.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 120,822 shares of the casino operator's stock after selling 28,792 shares during the period. Armistice Capital LLC's holdings in Las Vegas Sands were worth $4,667,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of LVS. Center for Financial Planning Inc. bought a new position in shares of Las Vegas Sands in the first quarter valued at about $42,000. Farther Finance Advisors LLC raised its position in shares of Las Vegas Sands by 133.1% in the first quarter. Farther Finance Advisors LLC now owns 1,499 shares of the casino operator's stock valued at $59,000 after purchasing an additional 856 shares during the period. Neo Ivy Capital Management bought a new position in shares of Las Vegas Sands in the first quarter valued at about $127,000. Golden State Wealth Management LLC raised its position in shares of Las Vegas Sands by 103.2% in the first quarter. Golden State Wealth Management LLC now owns 3,587 shares of the casino operator's stock valued at $139,000 after purchasing an additional 1,822 shares during the period. Finally, AlphaQuest LLC bought a new stake in shares of Las Vegas Sands during the first quarter worth approximately $153,000. Institutional investors own 39.16% of the company's stock.

Las Vegas Sands Price Performance

NYSE LVS traded down $1.40 on Friday, hitting $53.71. 5,132,325 shares of the company's stock were exchanged, compared to its average volume of 5,576,336. The stock has a 50-day moving average of $51.89 and a 200-day moving average of $44.11. 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 52 week low of $30.18 and a 52 week high of $58.05. The stock has a market cap of $36.87 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 2.02 and a beta of 1.04.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share for the quarter, topping 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 firm had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The company's quarterly revenue was up 15.0% on a year-over-year basis. Analysts expect 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. Shareholders of record on Tuesday, August 5th were paid 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 1.9%. Las Vegas Sands's dividend payout ratio is presently 50.51%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LVS shares. Argus upgraded Las Vegas Sands from a "hold" rating to a "buy" rating and set a $60.00 price objective for the company in a report on Monday, July 28th. Citigroup restated a "buy" rating on shares of Las Vegas Sands in a report on Wednesday, July 9th. Barclays boosted their price objective on Las Vegas Sands from $57.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Bank of America boosted their price objective on Las Vegas Sands from $52.50 to $58.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group started coverage on Las Vegas Sands in a report on Monday, July 7th. They set a "neutral" rating and a $52.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $59.00.

About Las Vegas Sands

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.