DnB Asset Management AS lowered its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,797 shares of the casino operator’s stock after selling 1,200 shares during the quarter. DnB Asset Management AS’s holdings in Las Vegas Sands were worth $3,043,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in Las Vegas Sands by 25.0% during the third quarter. Janus Henderson Group PLC now owns 4,051,823 shares of the casino operator’s stock worth $259,973,000 after purchasing an additional 810,373 shares in the last quarter. Csenge Advisory Group acquired a new stake in Las Vegas Sands during the third quarter worth approximately $504,000. Yellowstone Partners LLC acquired a new stake in Las Vegas Sands during the third quarter worth approximately $640,000. Investec Asset Management LTD raised its holdings in Las Vegas Sands by 38.5% during the second quarter. Investec Asset Management LTD now owns 1,800,200 shares of the casino operator’s stock worth $115,015,000 after purchasing an additional 500,619 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Las Vegas Sands during the third quarter worth approximately $327,000. 37.37% of the stock is currently owned by institutional investors.
In other news, Director George Jamieson acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were purchased at an average cost of $66.96 per share, for a total transaction of $66,960.00. Following the transaction, the director now directly owns 6,488 shares in the company, valued at approximately $434,436.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 10.10% of the company’s stock.
Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings data on Wednesday, October 25th. The casino operator reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. Las Vegas Sands had a net margin of 16.80% and a return on equity of 31.11%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the firm posted $0.72 EPS. Las Vegas Sands’s quarterly revenue was up 7.7% on a year-over-year basis. equities analysts anticipate that Las Vegas Sands Corp. will post 2.9 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Thursday, December 21st were given a $0.73 dividend. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $2.92 dividend on an annualized basis and a yield of 4.11%. Las Vegas Sands’s dividend payout ratio (DPR) is 110.19%.
A number of brokerages have recently issued reports on LVS. Zacks Investment Research lowered shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley raised their target price on shares of Las Vegas Sands from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. Gabelli raised their target price on shares of Las Vegas Sands from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Nomura raised their target price on shares of Las Vegas Sands from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, October 26th. Finally, Barclays raised their target price on shares of Las Vegas Sands from $69.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, December 7th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $66.19.
About Las Vegas Sands
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.
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