MBB Public Markets I LLC Purchases New Holdings in Las Vegas Sands Corp. $LVS

Key Points

• MBB Public Markets I LLC acquired a new stake in Las Vegas Sands Corp., purchasing 7,290 shares valued at approximately $282,000 during the first quarter.
• Las Vegas Sands reported a quarterly earnings per share (EPS) of $0.79, surpassing analysts' expectations, with a total revenue of $3.18 billion.
• The company recently announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend of $1.00 with a yield of 1.8%.

MBB Public Markets I LLC purchased a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 7,290 shares of the casino operator's stock, valued at approximately $282,000.

Several other hedge funds also recently added to or reduced their stakes in LVS. Nuveen LLC bought a new position in Las Vegas Sands during the 1st quarter valued at about $183,836,000. Vanguard Group Inc. grew its holdings in Las Vegas Sands by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 41,249,208 shares of the casino operator's stock valued at $1,593,457,000 after purchasing an additional 2,267,307 shares during the last quarter. ARGA Investment Management LP grew its holdings in Las Vegas Sands by 12.9% during the 1st quarter. ARGA Investment Management LP now owns 7,342,577 shares of the casino operator's stock valued at $283,644,000 after purchasing an additional 841,195 shares during the last quarter. Invesco Ltd. grew its stake in Las Vegas Sands by 9.1% in the 1st quarter. Invesco Ltd. now owns 9,442,798 shares of the casino operator's stock worth $364,775,000 after acquiring an additional 790,952 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Las Vegas Sands by 6.5% in the 1st quarter. Bank of New York Mellon Corp now owns 12,415,492 shares of the casino operator's stock worth $479,610,000 after acquiring an additional 752,944 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors.

Las Vegas Sands Price Performance

NYSE LVS opened at $54.70 on Friday. 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 firm's 50 day moving average price is $52.68 and its 200-day moving average price is $44.44. Las Vegas Sands Corp. has a 52-week low of $30.18 and a 52-week high of $58.05. The company has a market cap of $37.55 billion, a PE ratio of 27.63, a P/E/G ratio of 1.98 and a beta of 1.04.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share (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 firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the firm earned $0.55 earnings per share. The company's quarterly revenue was up 15.0% on a year-over-year basis. Sell-side analysts forecast that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Tuesday, August 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. Las Vegas Sands's dividend payout ratio is presently 50.51%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LVS. Wall Street Zen upgraded shares of Las Vegas Sands from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. UBS Group upped their target price on shares of Las Vegas Sands from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Thursday, August 28th. Mizuho upped their target price on shares of Las Vegas Sands from $47.00 to $56.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Morgan Stanley upped their target price on shares of Las Vegas Sands from $50.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, The Goldman Sachs Group began coverage on shares of Las Vegas Sands in a research note on Monday, July 7th. They issued a "neutral" rating and a $52.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $59.47.

Las Vegas Sands 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.

Want to see what other hedge funds are holding LVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Las Vegas Sands Corp. (NYSE:LVS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.