Las Vegas Sands Corp. (LVS) Shares Bought by CIBC Asset Management Inc
CIBC Asset Management Inc lifted its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,092 shares of the casino operator’s stock after buying an additional 1,357 shares during the period. CIBC Asset Management Inc’s holdings in Las Vegas Sands were worth $2,374,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in LVS. Centaurus Financial Inc. acquired a new stake in Las Vegas Sands during the 1st quarter worth approximately $117,000. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Las Vegas Sands in the first quarter worth $118,000. Synovus Financial Corp acquired a new stake in shares of Las Vegas Sands in the first quarter worth $152,000. Parallel Advisors LLC increased its position in shares of Las Vegas Sands by 297.0% in the first quarter. Parallel Advisors LLC now owns 2,354 shares of the casino operator’s stock worth $169,000 after acquiring an additional 1,761 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its position in shares of Las Vegas Sands by 6,587.3% in the first quarter. Summit Trail Advisors LLC now owns 196,072 shares of the casino operator’s stock worth $196,000 after acquiring an additional 193,140 shares in the last quarter. Institutional investors and hedge funds own 38.53% of the company’s stock.
In other Las Vegas Sands news, COO Robert G. Goldstein bought 10,000 shares of the stock in a transaction dated Tuesday, July 31st. The stock was bought at an average cost of $71.13 per share, for a total transaction of $711,300.00. Following the completion of the purchase, the chief operating officer now directly owns 10,000 shares of the company’s stock, valued at $711,300. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.20% of the stock is owned by company insiders.
Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, July 25th. The casino operator reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.06). The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.29 billion. Las Vegas Sands had a net margin of 28.06% and a return on equity of 35.22%. Las Vegas Sands’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 earnings per share. analysts anticipate that Las Vegas Sands Corp. will post 3.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Wednesday, September 19th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 18th. This represents a $3.00 annualized dividend and a dividend yield of 4.57%. Las Vegas Sands’s dividend payout ratio is presently 98.68%.
Several research firms have recently issued reports on LVS. Stifel Nicolaus dropped 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. Morgan Stanley lowered their price target on Las Vegas Sands from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, July 26th. Bank of America downgraded Las Vegas Sands from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $80.00 in a report on Monday, July 2nd. ValuEngine downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Finally, Zacks Investment Research downgraded Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a report on Monday, June 18th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Las Vegas Sands currently has a consensus rating of “Hold” and a consensus target price of $77.00.
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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