Tidal Investments LLC Has $3.27 Million Stake in Las Vegas Sands Corp. $LVS

Key Points

• Tidal Investments increased its Las Vegas Sands stake by 50% in the second quarter, acquiring 23,597 additional shares for a total position of 70,778 shares valued at approximately $3.27 million.
• Analyst sentiment is mixed, with an overall “Hold” consensus and an average price target of $59.84, while several firms recently lowered their targets. LVS shares opened at $42.41, near their 12-month low.
• Las Vegas Sands missed quarterly expectations, reporting $0.59 in EPS versus $0.76 expected and $3.15 billion in revenue versus $3.31 billion estimated. The company maintained a quarterly dividend of $0.30, representing a 2.8% annualized yield.

Tidal Investments LLC lifted its stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 50.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,778 shares of the casino operator's stock after acquiring an additional 23,597 shares during the period. Tidal Investments LLC's holdings in Las Vegas Sands were worth $3,269,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in shares of Las Vegas Sands by 4,502.5% in the 2nd quarter. California State Teachers Retirement System now owns 23,512,696 shares of the casino operator's stock valued at $1,086,051,000 after purchasing an additional 23,001,830 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Las Vegas Sands by 58.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,186,257 shares of the casino operator's stock worth $532,843,000 after buying an additional 3,018,704 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Las Vegas Sands by 18.7% during the 4th quarter. Bank of New York Mellon Corp now owns 7,893,031 shares of the casino operator's stock worth $513,757,000 after buying an additional 1,246,206 shares during the period. Norges Bank acquired a new stake in Las Vegas Sands in the 4th quarter valued at $364,892,000. Finally, Allianz Asset Management GmbH grew its position in Las Vegas Sands by 36.9% in the second quarter. Allianz Asset Management GmbH now owns 4,617,148 shares of the casino operator's stock valued at $213,266,000 after acquiring an additional 1,244,943 shares during the period. 39.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LVS shares. Jefferies Financial Group dropped their target price on shares of Las Vegas Sands from $52.00 to $47.00 and set a "hold" rating for the company in a research report on Thursday, July 23rd. Bank of America dropped their price objective on shares of Las Vegas Sands from $70.00 to $60.00 and set a "neutral" rating for the company in a report on Monday, July 20th. Wall Street Zen downgraded Las Vegas Sands from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Wolfe Research began coverage on Las Vegas Sands in a report on Wednesday, September 2nd. They set a "peer perform" rating for the company. Finally, Barclays cut their price objective on Las Vegas Sands from $63.00 to $59.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Las Vegas Sands presently has an average rating of "Hold" and a consensus price target of $59.84.

Las Vegas Sands Trading Down 1.0%

NYSE LVS opened at $42.41 on Tuesday. Las Vegas Sands Corp. has a 12 month low of $42.11 and a 12 month high of $70.45. The stock has a 50-day simple moving average of $45.70 and a 200 day simple moving average of $49.93. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27. The company has a market capitalization of $27.47 billion, a PE ratio of 16.50, a P/E/G ratio of 1.06 and a beta of 0.83.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.31 billion. Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.Las Vegas Sands's quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. Research analysts forecast that Las Vegas Sands Corp. will post 3.09 EPS for the current year.

Las Vegas Sands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Tuesday, August 4th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 annualized dividend and a yield of 2.8%. Las Vegas Sands's dividend payout ratio (DPR) is 46.69%.

About Las Vegas Sands

Las Vegas Sands Corp. NYSE: LVS develops and operates integrated resorts that combine casino gaming with hotels, convention and meeting facilities, dining, retail, entertainment and other leisure offerings. The company primarily serves international tourism, business travel and premium gaming markets.

Las Vegas Sands' principal properties are Marina Bay Sands in Singapore and a portfolio of integrated resorts in Macao, including The Venetian Macao, The Londoner Macao, The Parisian Macao and Four Seasons Hotel Macao.

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