Wedge Capital Management L L P NC Invests $33.31 Million in Las Vegas Sands Corp. $LVS

Key Points

• Wedge Capital Management L L P NC purchased 511,817 shares of Las Vegas Sands (NYSE: LVS) in Q4, a new stake valued at approximately $33.31 million, equal to about 0.08% of the company.
• Strong quarter and dividend increase: LVS reported Q results of $0.85 EPS vs. $0.77 expected and $3.65B revenue (+26% YoY vs. $3.33B est.), and raised its quarterly dividend to $0.30 (annualized $1.20, ~2.3% yield).
• Analyst backdrop: The stock carries an average MarketBeat rating of "Moderate Buy" with a mean price target of $68.55 (12 Buy, 6 Hold), though recent targets have ranged from cuts (Argus to $60) to increases (JPMorgan to $71).

Wedge Capital Management L L P NC purchased a new stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 511,817 shares of the casino operator's stock, valued at approximately $33,314,000. Wedge Capital Management L L P NC owned 0.08% of Las Vegas Sands as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of LVS. Total Investment Management Inc. bought a new stake in Las Vegas Sands during the 2nd quarter valued at $25,000. Grove Bank & Trust bought a new position in shares of Las Vegas Sands during the 4th quarter worth $26,000. Westside Investment Management Inc. increased its stake in shares of Las Vegas Sands by 48.0% during the third quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator's stock valued at $28,000 after buying an additional 166 shares during the period. Root Financial Partners LLC bought a new stake in shares of Las Vegas Sands in the third quarter valued at about $33,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Las Vegas Sands by 549.5% in the third quarter. Smartleaf Asset Management LLC now owns 630 shares of the casino operator's stock valued at $35,000 after acquiring an additional 533 shares in the last quarter. Institutional investors own 39.16% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on LVS. JPMorgan Chase & Co. increased their target price on shares of Las Vegas Sands from $70.00 to $71.00 and gave the stock an "overweight" rating in a report on Friday, January 23rd. Wells Fargo & Company upped their price target on shares of Las Vegas Sands from $67.00 to $68.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 29th. Argus dropped their price objective on shares of Las Vegas Sands from $80.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 30th. Mizuho lifted their price objective on shares of Las Vegas Sands from $63.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday, January 29th. Finally, Citigroup boosted their price objective on shares of Las Vegas Sands from $75.50 to $76.75 and gave the stock a "buy" rating in a research note on Thursday, December 11th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $68.55.

Las Vegas Sands Price Performance

NYSE LVS opened at $51.73 on Friday. The firm's fifty day simple moving average is $56.13 and its two-hundred day simple moving average is $58.73. The firm has a market capitalization of $34.76 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.34 and a beta of 0.88. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 7.58. Las Vegas Sands Corp. has a 12-month low of $30.18 and a 12-month high of $70.45.

Las Vegas Sands (NYSE:LVS - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The casino operator reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.08. Las Vegas Sands had a return on equity of 91.40% and a net margin of 12.50%.The firm had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.33 billion. During the same quarter last year, the firm earned $0.54 EPS. The business's quarterly revenue was up 26.0% on a year-over-year basis. Analysts forecast that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Monday, February 9th were issued a $0.30 dividend. This is a boost from Las Vegas Sands's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, February 9th. Las Vegas Sands's dividend payout ratio is 51.28%.

Insiders Place Their Bets

In other news, CEO Patrick Dumont sold 60,165 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $54.75, for a total transaction of $3,294,033.75. Following the sale, the chief executive officer owned 511,942 shares in the company, valued at approximately $28,028,824.50. The trade was a 10.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Las Vegas Sands 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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