Los Angeles Capital Management LLC Sells 90,154 Shares of Las Vegas Sands Corp. $LVS

Key Points

• Los Angeles Capital Management cut its Las Vegas Sands stake by 23.3% in the fourth quarter, selling 90,154 shares and ending with 296,631 shares worth about $19.3 million.
• Las Vegas Sands reported strong quarterly results, with EPS of $0.91 beating estimates of $0.76 and revenue of $3.59 billion topping forecasts; revenue rose 25.3% year over year.
• The company recently paid a quarterly dividend of $0.30 per share and analysts remain generally constructive, with a consensus rating of Moderate Buy and an average target price of $67.91.

Los Angeles Capital Management LLC decreased its position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 23.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 296,631 shares of the casino operator's stock after selling 90,154 shares during the quarter. Los Angeles Capital Management LLC's holdings in Las Vegas Sands were worth $19,308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp grew its stake in shares of Las Vegas Sands by 0.3% during 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 period. Parallel Advisors LLC grew its stake in shares of Las Vegas Sands by 7.8% during 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 period. Alps Advisors Inc. grew its stake in shares of Las Vegas Sands by 2.4% during 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 period. United Capital Financial Advisors LLC boosted its stake in 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 purchasing an additional 258 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its stake in Las Vegas Sands by 4.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 6,859 shares of the casino operator's stock worth $446,000 after purchasing an additional 279 shares during the period. Institutional investors own 39.16% of the company's stock.

Las Vegas Sands Stock Performance

Shares of NYSE LVS opened at $50.30 on Monday. The stock has a market cap of $33.33 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 1.14 and a beta of 0.81. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 8.64. Las Vegas Sands Corp. has a 1-year low of $40.03 and a 1-year high of $70.45. The stock's 50-day moving average is $52.87 and its 200 day moving average is $57.82.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $3.59 billion for the quarter, compared to analysts' expectations of $3.32 billion. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.Las Vegas Sands's revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period last year, the firm posted $0.59 EPS. On average, sell-side analysts anticipate that Las Vegas Sands Corp. will post 3.38 EPS for the current fiscal year.

Las Vegas Sands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Tuesday, May 5th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Las Vegas Sands's dividend payout ratio (DPR) is currently 44.44%.

Insider Buying and Selling at Las Vegas Sands

In related news, CEO Patrick Dumont sold 60,165 shares of the firm's 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 directly owned 511,942 shares of the company's stock, valued at approximately $28,028,824.50. This trade represents a 10.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LVS shares. UBS Group cut their target price on Las Vegas Sands from $69.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday. Mizuho raised their target price on Las Vegas Sands from $65.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. HSBC raised their target price on Las Vegas Sands from $73.00 to $78.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. cut their target price on Las Vegas Sands from $71.00 to $68.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Finally, Wall Street Zen cut Las Vegas Sands from a "buy" rating to a "hold" rating in a report on Saturday, May 23rd. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Las Vegas Sands has an average rating of "Moderate Buy" and a consensus target price of $67.91.

Las Vegas Sands Company 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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