Malaga Cove Capital LLC Has $749,000 Holdings in Las Vegas Sands Corp. (NYSE:LVS)

Key Points

• Malaga Cove Capital LLC increased its stake in Las Vegas Sands Corp. by 106.1%, owning 19,387 shares valued at approximately $749,000 as of the end of the first quarter.
• Las Vegas Sands reported quarterly earnings of $0.79 per share, exceeding estimates of $0.53, while revenues rose 15% year-over-year to $3.18 billion.
• The company initiated a $2.00 billion stock repurchase plan, indicating management's belief that the stock is undervalued, and also declared a quarterly dividend of $0.25 per share.

Malaga Cove Capital LLC grew its holdings in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 106.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,387 shares of the casino operator's stock after purchasing an additional 9,979 shares during the quarter. Malaga Cove Capital LLC's holdings in Las Vegas Sands were worth $749,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MGO One Seven LLC grew its holdings in shares of Las Vegas Sands by 5.3% in the 4th quarter. MGO One Seven LLC now owns 7,773 shares of the casino operator's stock valued at $399,000 after buying an additional 388 shares during the period. Huntington National Bank lifted its position in Las Vegas Sands by 64.1% in the 4th quarter. Huntington National Bank now owns 1,142 shares of the casino operator's stock valued at $59,000 after acquiring an additional 446 shares in the last quarter. Aviva PLC lifted its position in Las Vegas Sands by 1.3% in the 4th quarter. Aviva PLC now owns 35,623 shares of the casino operator's stock valued at $1,830,000 after acquiring an additional 457 shares in the last quarter. Empirical Finance LLC lifted its position in Las Vegas Sands by 4.8% in the 1st quarter. Empirical Finance LLC now owns 11,686 shares of the casino operator's stock valued at $451,000 after acquiring an additional 532 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Las Vegas Sands by 2.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 22,870 shares of the casino operator's stock valued at $883,000 after acquiring an additional 569 shares in the last quarter. 39.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LVS. Bank of America boosted their price objective on shares of Las Vegas Sands from $52.50 to $58.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Argus raised shares of Las Vegas Sands from a "hold" rating to a "buy" rating and set a $60.00 price objective on the stock in a research report on Monday, July 28th. Morgan Stanley boosted their price objective on shares of Las Vegas Sands from $45.00 to $47.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. The Goldman Sachs Group began coverage on shares of Las Vegas Sands in a research report on Monday, July 7th. They set a "neutral" rating and a $52.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Las Vegas Sands from $47.00 to $56.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $58.13.

Las Vegas Sands Stock Performance

LVS traded down $0.23 on Tuesday, reaching $52.17. The company had a trading volume of 3,239,236 shares, compared to its average volume of 5,801,886. Las Vegas Sands Corp. has a fifty-two week low of $30.18 and a fifty-two week high of $56.60. The stock has a market cap of $35.81 billion, a P/E ratio of 26.35, a P/E/G ratio of 2.03 and a beta of 1.08. The company's fifty day moving average is $45.91 and its 200 day moving average is $42.34. The company has a debt-to-equity ratio of 6.53, a quick ratio of 1.21 and a current ratio of 1.22.

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

Las Vegas Sands declared that its Board of Directors has initiated a share buyback program on Wednesday, April 23rd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the casino operator to buy up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Las Vegas Sands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 13th. Investors of record on Tuesday, August 5th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. Las Vegas Sands's dividend payout ratio is 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.