Bridgefront Capital LLC Invests $851,000 in Las Vegas Sands Corp. $LVS

Bridgefront Capital LLC purchased a new position in Las Vegas Sands Corp. (NYSE:LVS) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 15,830 shares of the casino operator’s stock, valued at approximately $851,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Las Vegas Sands by 4.4% during the second quarter. Vanguard Group Inc. now owns 43,072,014 shares of the casino operator’s stock worth $1,874,063,000 after purchasing an additional 1,822,806 shares in the last quarter. Invesco Ltd. increased its position in shares of Las Vegas Sands by 4.9% in the second quarter. Invesco Ltd. now owns 9,902,619 shares of the casino operator’s stock valued at $430,863,000 after buying an additional 459,821 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Las Vegas Sands by 0.4% in the second quarter. Geode Capital Management LLC now owns 8,823,966 shares of the casino operator’s stock valued at $382,294,000 after buying an additional 31,153 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Las Vegas Sands by 43.8% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,454,013 shares of the casino operator’s stock worth $293,371,000 after buying an additional 1,660,823 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Las Vegas Sands by 410.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator’s stock worth $277,963,000 after buying an additional 4,154,753 shares in the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Price Performance

NYSE:LVS opened at $53.67 on Monday. Las Vegas Sands Corp. has a 12-month low of $30.18 and a 12-month high of $70.45. The firm has a market cap of $36.06 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 1.37 and a beta of 0.88. The company’s 50-day moving average is $57.60 and its two-hundred day moving average is $58.94. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 7.58.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Wednesday, January 28th. The casino operator reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.08. The business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.33 billion. Las Vegas Sands had a net margin of 12.50% and a return on equity of 91.40%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. Research analysts expect that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on LVS. Zacks Research downgraded shares of Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Las Vegas Sands in a report on Monday, December 29th. HSBC increased their price target on shares of Las Vegas Sands from $67.50 to $73.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Macquarie Infrastructure restated an “outperform” rating and set a $70.00 price objective on shares of Las Vegas Sands in a research report on Thursday, January 29th. Finally, Mizuho upped their target price on Las Vegas Sands from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.55.

Insider Buying and Selling at Las Vegas Sands

In other Las Vegas Sands news, major shareholder Miriam Adelson sold 77,991 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $67.56, for a total value of $5,269,071.96. Following the completion of the transaction, the insider directly owned 23,333,441 shares in the company, valued at approximately $1,576,407,273.96. The trade was a 0.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert G. Goldstein sold 1,198,650 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $66.68, for a total value of $79,925,982.00. The SEC filing for this sale provides additional information. Insiders sold a total of 1,327,991 shares of company stock valued at $88,665,287 over the last quarter. 1.20% of the stock is currently owned by insiders.

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.