Bruderman Asset Management LLC acquired a new position in shares of Las Vegas Sands Corp. (NYSE:LVS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,248 shares of the casino operator’s stock, valued at approximately $2,004,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of LVS. IFP Advisors Inc increased its stake in shares of Las Vegas Sands by 16.6% in the first quarter. IFP Advisors Inc now owns 4,870 shares of the casino operator’s stock valued at $350,000 after buying an additional 693 shares during the period. Alps Advisors Inc. increased its position in Las Vegas Sands by 12.1% during the 2nd quarter. Alps Advisors Inc. now owns 7,295 shares of the casino operator’s stock valued at $507,000 after purchasing an additional 786 shares during the period. Wagner Bowman Management Corp increased its position in Las Vegas Sands by 14.5% during the 2nd quarter. Wagner Bowman Management Corp now owns 6,503 shares of the casino operator’s stock valued at $496,000 after purchasing an additional 824 shares during the period. Blair William & Co. IL increased its position in Las Vegas Sands by 14.0% during the 1st quarter. Blair William & Co. IL now owns 6,817 shares of the casino operator’s stock valued at $490,000 after purchasing an additional 838 shares during the period. Finally, San Francisco Sentry Investment Group CA increased its position in Las Vegas Sands by 16.1% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 6,972 shares of the casino operator’s stock valued at $532,000 after purchasing an additional 965 shares during the period. 38.54% of the stock is owned by institutional investors and hedge funds.
In other news, COO Robert G. Goldstein acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The stock was bought at an average price of $71.13 per share, with a total value of $711,300.00. Following the acquisition, the chief operating officer now owns 10,000 shares in the company, valued at approximately $711,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lawrence A. Jacobs sold 66,667 shares of Las Vegas Sands stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $60.95, for a total value of $4,063,353.65. Following the completion of the sale, the executive vice president now directly owns 66,667 shares of the company’s stock, valued at approximately $4,063,353.65. The disclosure for this sale can be found here. Insiders own 10.20% of the company’s stock.
A number of analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 18th. Bank of America downgraded shares of Las Vegas Sands from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $80.00 in a research report on Monday, July 2nd. Morgan Stanley increased their target price on shares of Las Vegas Sands from $85.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, June 26th. Nomura reduced their price objective on shares of Las Vegas Sands from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, July 9th. Finally, Stifel Nicolaus reduced their price objective on shares of Las Vegas Sands from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Las Vegas Sands has a consensus rating of “Hold” and a consensus target price of $77.00.
Shares of NYSE LVS traded down $0.39 during mid-day trading on Monday, reaching $58.31. 3,510,700 shares of the company’s stock were exchanged, compared to its average volume of 3,786,422. The stock has a market capitalization of $46.75 billion, a price-to-earnings ratio of 19.19 and a beta of 1.56. Las Vegas Sands Corp. has a 52 week low of $57.61 and a 52 week high of $81.45. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.70 and a quick ratio of 1.68.
Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, July 25th. The casino operator reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.06). The business had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.29 billion. Las Vegas Sands had a return on equity of 35.22% and a net margin of 28.06%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Research analysts expect that Las Vegas Sands Corp. will post 3.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Wednesday, September 19th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date was Tuesday, September 18th. Las Vegas Sands’s payout ratio is 98.68%.
About Las Vegas Sands
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, 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 iconic Marina Bay Sands in Singapore.
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