Las Vegas Sands Corp. $LVS Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia increased its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 141.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 927,855 shares of the casino operator’s stock after purchasing an additional 543,418 shares during the period. Bank of Nova Scotia owned approximately 0.14% of Las Vegas Sands worth $49,993,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Las Vegas Sands by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,251 shares of the casino operator’s stock valued at $1,207,000 after purchasing an additional 2,418 shares during the last quarter. Woodline Partners LP raised its position in shares of Las Vegas Sands by 38.9% in the 1st quarter. Woodline Partners LP now owns 29,032 shares of the casino operator’s stock worth $1,122,000 after buying an additional 8,132 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Las Vegas Sands by 91.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,146 shares of the casino operator’s stock valued at $93,000 after acquiring an additional 1,027 shares during the last quarter. Flow Traders U.S. LLC acquired a new position in Las Vegas Sands in the second quarter valued at $414,000. Finally, Cerity Partners LLC increased its stake in Las Vegas Sands by 70.0% during the second quarter. Cerity Partners LLC now owns 17,595 shares of the casino operator’s stock worth $766,000 after acquiring an additional 7,243 shares during the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands News Summary

Here are the key news stories impacting Las Vegas Sands this week:

• Positive Sentiment: Investors are still looking beyond near-term weakness because Las Vegas Sands is investing heavily in premium travel demand, including Macau property upgrades and an $8 billion Singapore expansion that could support future growth. Article Title
• Positive Sentiment: Despite the selloff after earnings, some market coverage says LVS is gaining as investors focus on the company’s long-term assets and ignore temporary headwinds. Article Title

Analysts Set New Price Targets

Several research firms have issued reports on LVS. Seaport Research Partners decreased their price objective on shares of Las Vegas Sands from $72.00 to $69.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. UBS Group set a $52.00 target price on Las Vegas Sands in a research report on Thursday, July 2nd. Weiss Ratings downgraded Las Vegas Sands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Citigroup dropped their price objective on shares of Las Vegas Sands from $78.50 to $73.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Finally, Mizuho dropped their price target on shares of Las Vegas Sands from $67.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $62.31.

Las Vegas Sands Stock Performance

Shares of LVS opened at $46.12 on Friday. The firm has a market capitalization of $30.56 billion, a PE ratio of 17.95, a P/E/G ratio of 1.15 and a beta of 0.83. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 8.64. The firm has a 50-day moving average price of $48.24 and a 200 day moving average price of $53.22. Las Vegas Sands Corp. has a 52-week low of $44.21 and a 52-week high of $70.45.

Las Vegas Sands (NYSE:LVS) last announced 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). The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.31 billion. Las Vegas Sands had a return on equity of 117.08% and a net margin of 12.59%.Las Vegas Sands’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. On average, sell-side analysts anticipate that Las Vegas Sands Corp. will post 3.31 earnings per share for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, August 4th. Las Vegas Sands’s payout ratio is presently 46.69%.

Las Vegas Sands Company 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.