Las Vegas Sands Corp. $LVS Stock Holdings Trimmed by ARGA Investment Management LP

Key Points

• ARGA Investment Management trimmed its stake by 22.8%, selling 1,004,771 shares and now holds 3,405,478 LVS shares (about 0.50% of the company) worth roughly $221.7 million, with Las Vegas Sands making up ~6.0% of ARGA’s portfolio and its 7th largest holding.
• Las Vegas Sands beat earnings and revenue estimates for the quarter (EPS $0.91 vs. $0.76 expected; revenue $3.59B vs. $3.32B), reported 25.3% revenue growth year-over-year, and declared a $0.30 quarterly dividend (2.2% yield) payable May 13.
• CEO Patrick Dumont sold 60,165 shares on March 17 for about $3.29 million, reducing his ownership by 10.52%; insiders now own roughly 0.55% of the company.

ARGA Investment Management LP reduced its stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 22.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,405,478 shares of the casino operator's stock after selling 1,004,771 shares during the quarter. Las Vegas Sands comprises about 6.0% of ARGA Investment Management LP's portfolio, making the stock its 7th largest holding. ARGA Investment Management LP owned about 0.50% of Las Vegas Sands worth $221,663,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LVS. Mackenzie Financial Corp grew its holdings in shares of Las Vegas Sands by 0.3% during the third quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator's stock valued at $2,902,000 after buying an additional 156 shares during the last quarter. Westside Investment Management Inc. raised its stake in shares of Las Vegas Sands by 48.0% in the third quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator's stock worth $28,000 after purchasing an additional 166 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Las Vegas Sands by 7.8% in the third quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator's stock worth $132,000 after purchasing an additional 177 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of Las Vegas Sands by 2.4% in the third quarter. Alps Advisors Inc. now owns 8,528 shares of the casino operator's stock worth $459,000 after purchasing an additional 197 shares during the last quarter. Finally, United Capital Financial Advisors LLC raised its stake in shares of Las Vegas Sands by 5.5% in the third quarter. United Capital Financial Advisors LLC now owns 4,945 shares of the casino operator's stock worth $266,000 after purchasing an additional 258 shares during the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Price Performance

Shares of NYSE LVS opened at $54.42 on Tuesday. The firm has a market cap of $36.11 billion, a PE ratio of 20.15, a PEG ratio of 1.22 and a beta of 0.89. The firm has a fifty day moving average of $54.90 and a 200 day moving average of $59.02. The company has a debt-to-equity ratio of 7.58, a quick ratio of 1.13 and a current ratio of 1.14. Las Vegas Sands Corp. has a one year low of $35.43 and a one year high of $70.45.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The casino operator reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.15. The firm had revenue of $3.59 billion for 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 112.15%. Las Vegas Sands's quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the company posted $0.59 EPS. As a group, research analysts predict that Las Vegas Sands Corp. will post 3.31 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Tuesday, May 5th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, May 5th. Las Vegas Sands's payout ratio is presently 44.44%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays upped their price objective on shares of Las Vegas Sands from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Thursday. Citigroup upped their price objective on shares of Las Vegas Sands from $76.75 to $78.50 and gave the company a "buy" rating in a report on Monday, April 13th. Wall Street Zen downgraded shares of Las Vegas Sands from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 14th. Wells Fargo & Company reduced their price objective on Las Vegas Sands from $68.00 to $65.00 and set an "equal weight" rating for the company in a research note on Thursday, April 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Las Vegas Sands from $77.00 to $73.00 and set a "buy" rating for the company 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.28.

Insider Activity at Las Vegas Sands

In related news, CEO Patrick Dumont sold 60,165 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 511,942 shares in the company, valued at approximately $28,028,824.50. The trade was a 10.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.55% of the company's stock.

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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