Nordea Investment Management AB Cuts Position in Las Vegas Sands Corp. $LVS

Key Points

• Nordea Investment Management AB reduced its stake in Las Vegas Sands Corp. by 77.1%, selling over 1.5 million shares during the second quarter, and now holds 0.07% of the company valued at approximately $20.45 million.
• Despite Nordea's decrease, several institutional investors like Vanguard Group and Price T Rowe Associates increased their positions in Las Vegas Sands, collectively owning over 39% of its stock.
• Las Vegas Sands reported a positive earnings performance, with a quarterly EPS of $0.79, beating analyst estimates and indicating a 15% increase in year-over-year revenue.

Nordea Investment Management AB decreased its position in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 77.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 468,448 shares of the casino operator's stock after selling 1,574,158 shares during the quarter. Nordea Investment Management AB owned 0.07% of Las Vegas Sands worth $20,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Las Vegas Sands by 5.8% in the first 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 period. Price T Rowe Associates Inc. MD increased its position in shares of Las Vegas Sands by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,722,816 shares of the casino operator's stock worth $607,373,000 after acquiring an additional 592,321 shares during the period. Bank of New York Mellon Corp increased its position in shares of Las Vegas Sands by 6.5% during the first 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 during the period. Invesco Ltd. increased its position in shares of Las Vegas Sands by 9.1% during the first 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 during the period. Finally, ARGA Investment Management LP increased its position in shares of Las Vegas Sands by 12.9% during the first quarter. ARGA Investment Management LP now owns 7,342,577 shares of the casino operator's stock worth $283,644,000 after acquiring an additional 841,195 shares during the period. Hedge funds and other institutional investors own 39.16% of the company's stock.

Las Vegas Sands Stock Performance

NYSE:LVS opened at $48.55 on Monday. The firm has a market capitalization of $33.33 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 1.77 and a beta of 1.01. The business's fifty day moving average price is $53.44 and its 200 day moving average price is $46.20. The company has a debt-to-equity ratio of 6.53, a current ratio of 1.22 and a quick ratio of 1.21. Las Vegas Sands Corp. has a 12 month low of $30.18 and a 12 month high of $58.05.

Las Vegas Sands (NYSE:LVS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The casino operator reported $0.79 EPS for the quarter, beating the consensus estimate of $0.53 by $0.26. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. On average, sell-side analysts anticipate that Las Vegas Sands Corp. will post 2.6 earnings per share for the current fiscal year.

Las Vegas Sands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Tuesday, August 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Las Vegas Sands's dividend payout ratio is currently 50.51%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup reaffirmed a "buy" rating on shares of Las Vegas Sands in a research report on Wednesday, July 9th. UBS Group upped their price objective on Las Vegas Sands from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Bank of America upped their price objective on Las Vegas Sands from $52.50 to $58.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Barclays upped their price objective on Las Vegas Sands from $57.00 to $58.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Zacks Research raised Las Vegas Sands from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.47.

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.

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.