Patton Fund Management Inc. Takes Position in Las Vegas Sands Corp. $LVS

Key Points

• Patton Fund Management Inc. has taken a new position in Las Vegas Sands Corp. by acquiring 6,137 shares valued at approximately $267,000 during the 2nd quarter.
• Various institutional investors have adjusted their holdings in Las Vegas Sands, with notable increases from MassMutual Private Wealth & Trust FSB (up 37.5%) and UMB Bank n.a. (up 53.8%) in the same quarter.
• Las Vegas Sands reported a quarterly revenue growth of 15% year-over-year, exceeding expectations with $3.18 billion in revenue, alongside an earnings per share of $0.79.

Patton Fund Management Inc. bought a new stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,137 shares of the casino operator's stock, valued at approximately $267,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Las Vegas Sands by 37.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator's stock valued at $38,000 after purchasing an additional 239 shares during the last quarter. Center for Financial Planning Inc. acquired a new stake in Las Vegas Sands during the 1st quarter worth approximately $42,000. UMB Bank n.a. lifted its position in Las Vegas Sands by 53.8% during the 2nd 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 period. Farther Finance Advisors LLC grew its stake in shares of Las Vegas Sands by 133.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,499 shares of the casino operator's stock valued at $59,000 after purchasing an additional 856 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Las Vegas Sands by 27.4% in the second quarter. Parallel Advisors LLC now owns 2,272 shares of the casino operator's stock valued at $99,000 after purchasing an additional 488 shares during the period. 39.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LVS. Susquehanna lowered their price objective on shares of Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. The Goldman Sachs Group started coverage on shares of Las Vegas Sands in a report on Monday, July 7th. They issued a "neutral" rating and a $52.00 target price on the stock. Citigroup reiterated a "buy" rating on shares of Las Vegas Sands in a research note on Wednesday, July 9th. JPMorgan Chase & Co. raised their price objective on shares of Las Vegas Sands from $47.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen raised Las Vegas Sands from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Las Vegas Sands presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.80.

Las Vegas Sands Stock Performance

Shares of LVS stock opened at $53.98 on Friday. The stock has a fifty day moving average price of $53.52 and a 200 day moving average price of $45.08. The stock has a market cap of $37.05 billion, a PE ratio of 27.26, a P/E/G ratio of 1.97 and a beta of 1.04. Las Vegas Sands Corp. has a 1 year low of $30.18 and a 1 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.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced 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 firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. Sell-side analysts forecast that Las Vegas Sands Corp. will post 2.6 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, August 5th. Las Vegas Sands's dividend payout ratio is 50.51%.

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.