Cadence Capital Management LLC Has $2.90 Million Stake in Las Vegas Sands Corp. (LVS)
Cadence Capital Management LLC reduced its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,762 shares of the casino operator’s stock after selling 1,681 shares during the quarter. Cadence Capital Management LLC’s holdings in Las Vegas Sands were worth $2,902,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of LVS. Bessemer Group Inc. grew its position in shares of Las Vegas Sands by 60.5% during the 4th quarter. Bessemer Group Inc. now owns 2,067 shares of the casino operator’s stock worth $144,000 after buying an additional 779 shares during the period. San Francisco Sentry Investment Group CA acquired a new position in shares of Las Vegas Sands during the 3rd quarter worth about $181,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Las Vegas Sands during the 3rd quarter worth about $198,000. Chase Investment Counsel Corp acquired a new position in shares of Las Vegas Sands during the 3rd quarter worth about $200,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Las Vegas Sands during the 3rd quarter worth about $209,000. Institutional investors own 37.24% of the company’s stock.
LVS has been the subject of several analyst reports. Zacks Investment Research upgraded Las Vegas Sands from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, November 8th. Gabelli boosted their target price on Las Vegas Sands from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Roth Capital began coverage on Las Vegas Sands in a research report on Wednesday, October 25th. They issued a “buy” rating and a $69.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $76.00 price objective on shares of Las Vegas Sands in a research report on Tuesday, January 9th. Finally, Bank of America boosted their price objective on Las Vegas Sands from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $70.54.
Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, January 24th. The casino operator reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.11. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Las Vegas Sands had a return on equity of 34.76% and a net margin of 21.78%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 EPS. equities research analysts expect that Las Vegas Sands Corp. will post 3.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 22nd will be paid a $0.75 dividend. This is a boost from Las Vegas Sands’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 21st. This represents a $3.00 annualized dividend and a yield of 4.09%. Las Vegas Sands’s payout ratio is presently 82.49%.
In other news, Director George Jamieson bought 1,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were purchased at an average price of $66.96 per share, for a total transaction of $66,960.00. Following the purchase, the director now owns 6,488 shares of the company’s stock, valued at approximately $434,436.48. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 10.10% of the company’s stock.
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Las Vegas Sands Company Profile
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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