Arizona State Retirement System Lowers Stake in Las Vegas Sands Corp. (LVS)
Arizona State Retirement System decreased its stake in Las Vegas Sands Corp. (NYSE:LVS) by 25.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,874 shares of the casino operator’s stock after selling 11,400 shares during the period. Arizona State Retirement System’s holdings in Las Vegas Sands Corp. were worth $1,949,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Northern Cross LLC increased its position in shares of Las Vegas Sands Corp. by 5.8% in the second quarter. Northern Cross LLC now owns 39,053,967 shares of the casino operator’s stock valued at $1,698,457,000 after buying an additional 2,131,779 shares during the last quarter. Vontobel Asset Management Inc. boosted its stake in Las Vegas Sands Corp. by 29.9% in the third quarter. Vontobel Asset Management Inc. now owns 6,233,310 shares of the casino operator’s stock valued at $363,695,000 after buying an additional 1,434,774 shares during the period. Newport Asia LLC purchased a new stake in Las Vegas Sands Corp. during the second quarter valued at approximately $58,394,000. AQR Capital Management LLC boosted its stake in Las Vegas Sands Corp. by 422.2% in the second quarter. AQR Capital Management LLC now owns 1,653,159 shares of the casino operator’s stock valued at $71,896,000 after buying an additional 1,336,611 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in Las Vegas Sands Corp. by 127.6% in the second quarter. UBS Asset Management Americas Inc. now owns 2,039,239 shares of the casino operator’s stock valued at $88,688,000 after buying an additional 1,143,077 shares during the period. 39.82% of the stock is currently owned by institutional investors.
Las Vegas Sands Corp. (NYSE:LVS) traded down 0.64% during midday trading on Tuesday, reaching $62.15. 2,710,082 shares of the company’s stock traded hands. The company’s 50-day moving average price is $58.88 and its 200 day moving average price is $52.19. Las Vegas Sands Corp. has a 52 week low of $34.88 and a 52 week high of $63.38. The stock has a market capitalization of $49.39 billion, a price-to-earnings ratio of 30.35 and a beta of 1.98.
Las Vegas Sands Corp. (NYSE:LVS) last posted its quarterly earnings data on Thursday, November 3rd. The casino operator reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.12. Las Vegas Sands Corp. had a net margin of 14.53% and a return on equity of 23.24%. The company earned $2.97 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Las Vegas Sands Corp. will post $2.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, December 21st will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Monday, December 19th. Las Vegas Sands Corp.’s dividend payout ratio is presently 140.49%.
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Several analysts have recently commented on LVS shares. Vetr upgraded shares of Las Vegas Sands Corp. from a “buy” rating to a “strong-buy” rating and set a $63.40 target price for the company in a research note on Monday, September 26th. Stifel Nicolaus raised their target price on shares of Las Vegas Sands Corp. from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, November 4th. TheStreet upgraded shares of Las Vegas Sands Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. Goldman Sachs Group Inc. restated a “neutral” rating on shares of Las Vegas Sands Corp. in a research note on Wednesday, October 5th. Finally, Susquehanna restated a “positive” rating and issued a $63.00 target price on shares of Las Vegas Sands Corp. in a research note on Thursday, September 8th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Las Vegas Sands Corp. has an average rating of “Buy” and an average target price of $57.33.
In other Las Vegas Sands Corp. news, COO Robert G. Goldstein sold 169,111 shares of the company’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $62.84, for a total transaction of $10,626,935.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.10% of the company’s stock.
About Las Vegas Sands Corp.
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that offers 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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