L2 Asset Management LLC Buys New Shares in Las Vegas Sands Corp. $LVS

L2 Asset Management LLC purchased a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 46,890 shares of the casino operator’s stock, valued at approximately $2,166,000.

A number of other large investors have also recently bought and sold shares of LVS. International Assets Investment Management LLC bought a new stake in shares of Las Vegas Sands during the 4th quarter valued at about $26,000. DV Equities LLC bought a new stake in Las Vegas Sands in the fourth quarter worth approximately $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Las Vegas Sands in the fourth quarter worth approximately $29,000. Wilmington Savings Fund Society FSB lifted its stake in Las Vegas Sands by 254.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator’s stock valued at $36,000 after buying an additional 400 shares during the period. Finally, IFP Advisors Inc boosted its holdings in shares of Las Vegas Sands by 182.4% during the 3rd quarter. IFP Advisors Inc now owns 672 shares of the casino operator’s stock worth $36,000 after buying an additional 434 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America lowered their price objective on shares of Las Vegas Sands from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, July 20th. Barclays cut their target price on shares of Las Vegas Sands from $63.00 to $59.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. JPMorgan Chase & Co. reduced their price target on shares of Las Vegas Sands from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Mizuho dropped their price objective on shares of Las Vegas Sands from $67.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Finally, Stifel Nicolaus cut their price objective on shares of Las Vegas Sands from $74.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.88.

Las Vegas Sands Stock Down 0.1%

Las Vegas Sands stock opened at $46.97 on Tuesday. Las Vegas Sands Corp. has a 1-year low of $44.21 and a 1-year high of $70.45. The firm has a market capitalization of $30.42 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85. The firm’s fifty day moving average price is $46.64 and its two-hundred day moving average price is $51.30. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.17). Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. The company’s revenue was down .7% on a year-over-year basis. On average, equities research analysts predict that Las Vegas Sands Corp. will post 3.09 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Tuesday, August 4th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. Las Vegas Sands’s dividend payout ratio is 46.69%.

Las Vegas Sands Profile

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.