Pallas Capital Advisors LLC acquired a new stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,874 shares of the casino operator's stock, valued at approximately $908,000.
Several other hedge funds have also made changes to their positions in LVS. Cetera Investment Advisers grew its stake in shares of Las Vegas Sands by 14.3% in the 4th quarter. Cetera Investment Advisers now owns 24,757 shares of the casino operator's stock valued at $1,272,000 after buying an additional 3,101 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Las Vegas Sands by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,833 shares of the casino operator's stock valued at $1,481,000 after buying an additional 1,120 shares during the period. Man Group plc purchased a new position in shares of Las Vegas Sands during the 4th quarter worth approximately $2,969,000. Woodline Partners LP purchased a new position in shares of Las Vegas Sands during the 4th quarter worth approximately $1,073,000. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Las Vegas Sands during the 4th quarter worth approximately $3,161,000. Hedge funds and other institutional investors own 39.16% of the company's stock.
Wall Street Analysts Forecast Growth
LVS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Las Vegas Sands from $47.00 to $56.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Bank of America increased their price objective on shares of 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 increased their price objective on shares of Las Vegas Sands from $57.00 to $58.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Citigroup reiterated a "buy" rating on shares of Las Vegas Sands in a report on Wednesday, July 9th. Finally, UBS Group increased their target price on shares of Las Vegas Sands from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.47.
Read Our Latest Report on LVS
Las Vegas Sands Price Performance
Shares of NYSE LVS traded up $0.60 on Friday, hitting $53.81. The company's stock had a trading volume of 15,691,077 shares, compared to its average volume of 4,686,739. The stock has a 50 day moving average of $53.14 and a 200-day moving average of $44.79. The company has a debt-to-equity ratio of 6.53, a current ratio of 1.22 and a quick ratio of 1.21. The company has a market capitalization of $36.94 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.96 and a beta of 1.04. 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 quarterly earnings data on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.26. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $2.83 billion. Las Vegas Sands had a net margin of 12.16% and a return on equity of 55.37%. The company's revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 earnings per share. As a group, research analysts predict that Las Vegas Sands Corp. will post 2.6 EPS for the current year.
Las Vegas Sands Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, August 5th. Las Vegas Sands's payout ratio is currently 50.51%.
Las Vegas Sands Profile
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Free Report)
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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