SteelPeak Wealth LLC Purchases 42,659 Shares of Las Vegas Sands Corp. $LVS

SteelPeak Wealth LLC boosted its position in Las Vegas Sands Corp. (NYSE:LVS) by 835.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,765 shares of the casino operator’s stock after buying an additional 42,659 shares during the quarter. SteelPeak Wealth LLC’s holdings in Las Vegas Sands were worth $3,109,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust bought a new stake in Las Vegas Sands during the fourth quarter valued at about $26,000. Westside Investment Management Inc. increased its stake in shares of Las Vegas Sands by 48.0% in the third quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator’s stock worth $28,000 after purchasing an additional 166 shares during the period. Total Investment Management Inc. bought a new position in shares of Las Vegas Sands in the second quarter worth about $25,000. Root Financial Partners LLC acquired a new position in shares of Las Vegas Sands during the 3rd quarter worth about $33,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Las Vegas Sands by 549.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 630 shares of the casino operator’s stock worth $35,000 after purchasing an additional 533 shares during the last quarter. Institutional investors own 39.16% of the company’s stock.

Analyst Upgrades and Downgrades

LVS has been the topic of several recent analyst reports. HSBC lifted their price target on Las Vegas Sands from $67.50 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. UBS Group raised their price objective on shares of Las Vegas Sands from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, December 8th. Wall Street Zen lowered shares of Las Vegas Sands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Zacks Research lowered shares of Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Stifel Nicolaus cut their target price on shares of Las Vegas Sands from $75.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $68.55.

Insider Activity

In other news, CEO Patrick Dumont sold 60,165 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $54.75, for a total value of $3,294,033.75. Following the completion of the transaction, the chief executive officer owned 511,942 shares in the company, valued at approximately $28,028,824.50. This represents a 10.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Las Vegas Sands Trading Up 0.0%

Las Vegas Sands stock opened at $54.37 on Friday. The business has a 50 day moving average price of $55.56 and a two-hundred day moving average price of $58.77. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 7.58. Las Vegas Sands Corp. has a 12 month low of $30.18 and a 12 month high of $70.45. The stock has a market cap of $36.08 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings data on Wednesday, January 28th. The casino operator reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.08. The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Las Vegas Sands had a return on equity of 91.40% and a net margin of 12.50%.Las Vegas Sands’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. As a group, equities analysts forecast that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Monday, February 9th were issued a $0.30 dividend. This is a boost from Las Vegas Sands’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.20 annualized dividend and a yield of 2.2%. Las Vegas Sands’s payout ratio is presently 51.28%.

About Las Vegas Sands

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.