Las Vegas Sands Corp. $LVS Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its stake in Las Vegas Sands Corp. (NYSE:LVS) by 4,226.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,012,800 shares of the casino operator’s stock after purchasing an additional 989,392 shares during the period. Arrowstreet Capital Limited Partnership owned 0.15% of Las Vegas Sands worth $44,067,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in Las Vegas Sands by 797.5% in the first quarter. Federated Hermes Inc. now owns 13,400 shares of the casino operator’s stock valued at $518,000 after buying an additional 11,907 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Las Vegas Sands by 13.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 32,846 shares of the casino operator’s stock worth $1,269,000 after acquiring an additional 3,938 shares during the period. Vanguard Group Inc. lifted its position in Las Vegas Sands by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 41,249,208 shares of the casino operator’s stock valued at $1,593,457,000 after purchasing an additional 2,267,307 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Las Vegas Sands by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,153,220 shares of the casino operator’s stock valued at $83,179,000 after purchasing an additional 15,158 shares during the period. Finally, Deutsche Bank AG boosted its stake in Las Vegas Sands by 21.1% during the 1st quarter. Deutsche Bank AG now owns 1,629,899 shares of the casino operator’s stock valued at $62,963,000 after purchasing an additional 283,455 shares during the period. Institutional investors and hedge funds own 39.16% of the company’s stock.

Analysts Set New Price Targets

LVS has been the topic of several analyst reports. Barclays raised their price target on shares of Las Vegas Sands from $59.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group raised their target price on Las Vegas Sands from $57.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Seaport Global Securities lifted their target price on Las Vegas Sands from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Wall Street Zen raised Las Vegas Sands from a “hold” rating to a “buy” rating in a research note on Sunday, September 7th. Finally, Zacks Research raised Las Vegas Sands from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.60.

Insider Buying and Selling

In other news, CEO Robert G. Goldstein sold 700,000 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $58.88, for a total transaction of $41,216,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP D. Zachary Hudson sold 100,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $64.99, for a total value of $6,499,000.00. Following the sale, the executive vice president directly owned 13,735 shares of the company’s stock, valued at approximately $892,637.65. This represents a 87.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,704,062 shares of company stock worth $168,024,845 over the last three months. Corporate insiders own 1.20% of the company’s stock.

Las Vegas Sands Price Performance

Shares of NYSE LVS opened at $66.27 on Friday. Las Vegas Sands Corp. has a twelve month low of $30.18 and a twelve month high of $70.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 7.42. The company has a market capitalization of $44.80 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.80 and a beta of 0.97. The firm has a 50-day moving average of $59.40 and a two-hundred day moving average of $52.63.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, October 22nd. The casino operator reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.16. Las Vegas Sands had a net margin of 12.69% and a return on equity of 73.14%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s revenue was up 24.2% compared to the same quarter last year. As a group, analysts expect that Las Vegas Sands Corp. will post 2.6 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Tuesday, November 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.5%. Las Vegas Sands’s payout ratio is 45.25%.

Las Vegas Sands Profile

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, 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 Marina Bay Sands in Singapore.