Commerzbank Aktiengesellschaft FI Acquires 38,878 Shares of Las Vegas Sands Corp. (NYSE:LVS)
Commerzbank Aktiengesellschaft FI boosted its holdings in Las Vegas Sands Corp. (NYSE:LVS) by 236.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,311 shares of the casino operator’s stock after purchasing an additional 38,878 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Las Vegas Sands were worth $3,195,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Manchester Financial Inc. bought a new stake in Las Vegas Sands in the second quarter worth approximately $26,000. Manchester Capital Management LLC increased its holdings in Las Vegas Sands by 164.8% in the second quarter. Manchester Capital Management LLC now owns 482 shares of the casino operator’s stock worth $28,000 after purchasing an additional 300 shares in the last quarter. Lenox Wealth Advisors LLC increased its holdings in Las Vegas Sands by 247.1% in the third quarter. Lenox Wealth Advisors LLC now owns 486 shares of the casino operator’s stock worth $28,000 after purchasing an additional 346 shares in the last quarter. Allworth Financial LP increased its holdings in Las Vegas Sands by 195.6% in the third quarter. Allworth Financial LP now owns 538 shares of the casino operator’s stock worth $31,000 after purchasing an additional 356 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its holdings in Las Vegas Sands by 49.0% in the first quarter. Rehmann Capital Advisory Group now owns 605 shares of the casino operator’s stock worth $37,000 after purchasing an additional 199 shares in the last quarter. Institutional investors and hedge funds own 36.33% of the company’s stock.
LVS has been the subject of a number of research analyst reports. Argus downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. Standpoint Research initiated coverage on Las Vegas Sands in a report on Wednesday, September 4th. They issued a “buy” rating for the company. Morgan Stanley lowered their target price on Las Vegas Sands from $68.00 to $66.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. UBS Group lowered their target price on Las Vegas Sands from $63.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Deutsche Bank upgraded Las Vegas Sands from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $70.00 in a report on Sunday, September 8th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $67.10.
Las Vegas Sands (NYSE:LVS) last released its quarterly earnings data on Wednesday, July 24th. The casino operator reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.09). The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.39 billion. Las Vegas Sands had a net margin of 14.01% and a return on equity of 35.77%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, equities research analysts anticipate that Las Vegas Sands Corp. will post 3.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.77 per share. The ex-dividend date was Tuesday, September 17th. This represents a $3.08 annualized dividend and a dividend yield of 5.36%. Las Vegas Sands’s dividend payout ratio is 92.77%.
In related news, General Counsel Kathleen Bender Patton sold 2,008 shares of Las Vegas Sands stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $35.60, for a total transaction of $71,484.80. Also, EVP Lawrence A. Jacobs sold 66,667 shares of Las Vegas Sands stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $60.16, for a total value of $4,010,686.72. Following the transaction, the executive vice president now directly owns 66,667 shares in the company, valued at approximately $4,010,686.72. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.
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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