Westpac Banking Corp Acquires 50,291 Shares of Las Vegas Sands Corp. $LVS

Key Points

• Westpac Banking Corp sharply increased its stake in Las Vegas Sands, buying 50,291 additional shares in the fourth quarter and lifting its holdings to 51,021 shares worth about $3.32 million.
• Las Vegas Sands reported better-than-expected quarterly results, with EPS of $0.91 versus $0.76 expected and revenue of $3.59 billion, up 25.3% year over year.
• The company also paid a quarterly dividend of $0.30 per share, and analysts currently rate the stock a Moderate Buy with an average price target of $68.28.

Westpac Banking Corp grew its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 6,889.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,021 shares of the casino operator's stock after purchasing an additional 50,291 shares during the quarter. Westpac Banking Corp's holdings in Las Vegas Sands were worth $3,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. AXQ Capital LP bought a new position in Las Vegas Sands in the 4th quarter worth $665,000. Rothschild Wealth LLC bought a new position in Las Vegas Sands in the 4th quarter worth $470,000. Essex Financial Services Inc. bought a new position in Las Vegas Sands in the 4th quarter worth $253,000. MUFG Securities EMEA plc raised its holdings in Las Vegas Sands by 111.0% in the 4th quarter. MUFG Securities EMEA plc now owns 12,473 shares of the casino operator's stock worth $812,000 after acquiring an additional 6,561 shares during the period. Finally, Norges Bank bought a new position in Las Vegas Sands in the 4th quarter worth $364,892,000. Institutional investors own 39.16% of the company's stock.

Las Vegas Sands Stock Performance

NYSE LVS opened at $51.10 on Wednesday. The company has a debt-to-equity ratio of 8.64, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market capitalization of $33.86 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.21 and a beta of 0.81. The company's fifty day moving average is $53.13 and its two-hundred day moving average is $58.24. Las Vegas Sands Corp. has a 52-week low of $40.03 and a 52-week high of $70.45.

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

Las Vegas Sands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Tuesday, May 5th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, May 5th. Las Vegas Sands's dividend payout ratio (DPR) is currently 44.44%.

Insider Transactions at Las Vegas Sands

In other Las Vegas Sands news, CEO Patrick Dumont sold 60,165 shares of the firm's stock in a transaction on 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 sale, the chief executive officer directly owned 511,942 shares in the company, valued at $28,028,824.50. This trade represents a 10.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LVS has been the topic of several recent analyst reports. Seaport Research Partners dropped their target price on shares of Las Vegas Sands from $72.00 to $69.00 and set a "buy" rating on the stock in a report on Tuesday, April 21st. Citigroup lifted their target price on shares of Las Vegas Sands from $76.75 to $78.50 and gave the stock a "buy" rating in a report on Monday, April 13th. Wells Fargo & Company dropped their target price on shares of Las Vegas Sands from $68.00 to $65.00 and set an "equal weight" rating on the stock in a report on Thursday, April 16th. Mizuho lifted their target price on shares of Las Vegas Sands from $65.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Finally, Stifel Nicolaus lifted their target price on shares of Las Vegas Sands from $72.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $68.28.

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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