Kessler Investment Group LLC purchased a new position in shares of Las Vegas Sands Corp. (NYSE:LVS) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,117 shares of the casino operator’s stock, valued at approximately $68,000.
A number of other hedge funds have also recently modified their holdings of the business. KMG Fiduciary Partners LLC bought a new stake in Las Vegas Sands during the first quarter worth about $223,000. Steinberg Global Asset Management lifted its stake in Las Vegas Sands by 15.4% during the first quarter. Steinberg Global Asset Management now owns 15,217 shares of the casino operator’s stock worth $1,094,000 after purchasing an additional 2,033 shares during the last quarter. Paragon Capital Management LLC bought a new stake in Las Vegas Sands during the first quarter worth about $122,000. Raymond James Trust N.A. lifted its stake in Las Vegas Sands by 9.6% during the first quarter. Raymond James Trust N.A. now owns 7,647 shares of the casino operator’s stock worth $466,000 after purchasing an additional 670 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Las Vegas Sands in the 1st quarter valued at about $387,000. 36.81% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on LVS. Jefferies Financial Group boosted their target price on Las Vegas Sands from $57.00 to $69.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Deutsche Bank upped their price target on Las Vegas Sands to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. Zacks Investment Research downgraded Las Vegas Sands from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. Morgan Stanley upped their price target on Las Vegas Sands from $64.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $58.00 price target on shares of Las Vegas Sands in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $69.32.
Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, January 23rd. The casino operator reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.08). Las Vegas Sands had a return on equity of 33.84% and a net margin of 17.58%. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same quarter last year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Las Vegas Sands Corp. will post 3.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 20th were given a $0.77 dividend. This is an increase from Las Vegas Sands’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Tuesday, March 19th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 92.77%.
Las Vegas Sands Profile
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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