Prospera Financial Services Inc Invests $2.96 Million in Las Vegas Sands Corp. $LVS

Key Points

• Prospera Financial Services bought a new position in Las Vegas Sands during the fourth quarter, purchasing 45,509 shares valued at about $2.96 million.
• Las Vegas Sands reported strong quarterly results, with EPS of $0.91 topping estimates of $0.76 and revenue of $3.59 billion beating expectations; revenue also rose 25.3% year over year.
• The company recently paid a quarterly dividend of $0.30 per share, or $1.20 annualized, for a dividend yield of 2.4%; analysts currently rate the stock a Moderate Buy with an average price target of $68.28.

Prospera Financial Services Inc purchased a new position in Las Vegas Sands Corp. (NYSE:LVS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 45,509 shares of the casino operator's stock, valued at approximately $2,963,000.

Other hedge funds have also recently made changes to their positions in the company. Mackenzie Financial Corp increased its stake in Las Vegas Sands by 0.3% in the 3rd quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator's stock worth $2,902,000 after buying an additional 156 shares in the last quarter. Westside Investment Management Inc. increased its stake in Las Vegas Sands by 48.0% in the 3rd quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator's stock worth $28,000 after buying an additional 166 shares in the last quarter. Parallel Advisors LLC increased its stake in Las Vegas Sands by 7.8% in the 3rd quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator's stock worth $132,000 after buying an additional 177 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Las Vegas Sands by 2.4% during the third quarter. Alps Advisors Inc. now owns 8,528 shares of the casino operator's stock valued at $459,000 after purchasing an additional 197 shares in the last quarter. Finally, United Capital Financial Advisors LLC grew its position in shares of Las Vegas Sands by 5.5% during the third quarter. United Capital Financial Advisors LLC now owns 4,945 shares of the casino operator's stock valued at $266,000 after purchasing an additional 258 shares in the last quarter. 39.16% of the stock is owned by institutional investors.

Las Vegas Sands Stock Up 0.7%

Shares of NYSE:LVS opened at $49.77 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 8.64. Las Vegas Sands Corp. has a 12 month low of $40.03 and a 12 month high of $70.45. The company has a 50-day moving average price of $53.33 and a 200 day moving average price of $58.63. The company has a market cap of $32.98 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.12 and a beta of 0.85.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The casino operator reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.15. Las Vegas Sands had a net margin of 13.41% and a return on equity of 118.27%. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter last year, the firm earned $0.59 EPS. The firm's revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, equities research analysts predict that Las Vegas Sands Corp. will post 3.38 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Tuesday, May 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.4%. Las Vegas Sands's dividend payout ratio (DPR) is presently 44.44%.

Insider Activity at Las Vegas Sands

In related news, CEO Patrick Dumont sold 60,165 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $54.75, for a total value of $3,294,033.75. Following the completion of the transaction, the chief executive officer owned 511,942 shares of the company's stock, valued at approximately $28,028,824.50. This trade represents a 10.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LVS. The Goldman Sachs Group cut their price objective on Las Vegas Sands from $80.00 to $73.00 and set a "buy" rating for the company in a research report on Thursday, January 29th. Morgan Stanley raised their price objective on Las Vegas Sands from $67.00 to $69.00 and gave the company an "equal weight" rating in a research report on Thursday, April 23rd. Wall Street Zen lowered Las Vegas Sands from a "buy" rating to a "hold" rating in a research report on Saturday. Macquarie Infrastructure restated an "outperform" rating and set a $70.00 price objective on shares of Las Vegas Sands in a research report on Thursday, January 29th. Finally, Seaport Research Partners cut their price objective on Las Vegas Sands from $72.00 to $69.00 and set a "buy" rating for the company in a research report on Tuesday, April 21st. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Las Vegas Sands has an average rating of "Moderate Buy" and an average price target of $68.28.

Las Vegas Sands Company Profile

Las Vegas Sands NYSE: LVS is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company's operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company's portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.

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