Maridea Wealth Management LLC Makes New Investment in Las Vegas Sands Corp. $LVS

Key Points

• Maridea Wealth Management LLC has acquired a new position in Las Vegas Sands Corp., purchasing 23,565 shares valued at approximately $1,025,000 during the second quarter.
• Las Vegas Sands reported an EPS of $0.79 for the last quarter, surpassing analyst estimates of $0.53, with revenues rising to $3.18 billion compared to the projected $2.83 billion.
• Several brokerages have recently increased their price targets for Las Vegas Sands, with Macquarie raising theirs from $52.00 to $58.00 and UBS Group increasing theirs from $55.00 to $65.00, reflecting growing investor confidence.

Maridea Wealth Management LLC acquired a new position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,565 shares of the casino operator's stock, valued at approximately $1,025,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Las Vegas Sands by 37.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator's stock worth $38,000 after acquiring an additional 239 shares during the last quarter. Center for Financial Planning Inc. purchased a new position in shares of Las Vegas Sands during the first quarter worth approximately $42,000. Farther Finance Advisors LLC grew its position in shares of Las Vegas Sands by 133.1% during the first quarter. Farther Finance Advisors LLC now owns 1,499 shares of the casino operator's stock worth $59,000 after acquiring an additional 856 shares during the last quarter. UMB Bank n.a. grew its position in shares of Las Vegas Sands by 53.8% during the second quarter. UMB Bank n.a. now owns 1,361 shares of the casino operator's stock worth $59,000 after acquiring an additional 476 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Las Vegas Sands by 27.4% during the second quarter. Parallel Advisors LLC now owns 2,272 shares of the casino operator's stock worth $99,000 after purchasing an additional 488 shares during the period. Institutional investors and hedge funds own 39.16% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LVS. Macquarie increased their price target on Las Vegas Sands from $52.00 to $58.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. The Goldman Sachs Group began coverage on Las Vegas Sands in a report on Monday, July 7th. They set a "neutral" rating and a $52.00 price target for the company. UBS Group increased their price target on Las Vegas Sands from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Wall Street Zen raised Las Vegas Sands from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Finally, Citigroup reaffirmed a "buy" rating on shares of Las Vegas Sands in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Las Vegas Sands currently has an average rating of "Moderate Buy" and a consensus price target of $59.47.

Las Vegas Sands Price Performance

Las Vegas Sands stock opened at $52.97 on Thursday. Las Vegas Sands Corp. has a one year low of $30.18 and a one year high of $58.05. The company has a debt-to-equity ratio of 6.53, a quick ratio of 1.21 and a current ratio of 1.22. The business has a fifty day moving average of $53.33 and a two-hundred day moving average of $44.95. The company has a market cap of $36.36 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 1.93 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 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.26. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $2.83 billion. Las Vegas Sands had a return on equity of 55.37% and a net margin of 12.16%.Las Vegas Sands's quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 5th. Las Vegas Sands's 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.

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