California Public Employees Retirement System Has $34.05 Million Stock Position in Las Vegas Sands Corp. $LVS

California Public Employees Retirement System boosted its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 10.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 632,006 shares of the casino operator’s stock after acquiring an additional 62,249 shares during the quarter. California Public Employees Retirement System owned approximately 0.10% of Las Vegas Sands worth $34,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in shares of Las Vegas Sands by 222.7% during the fourth quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator’s stock worth $592,223,000 after purchasing an additional 6,279,390 shares in the last quarter. Norges Bank bought a new stake in shares of Las Vegas Sands during the fourth quarter valued at approximately $364,892,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Las Vegas Sands by 410.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator’s stock valued at $277,963,000 after purchasing an additional 4,154,753 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Las Vegas Sands by 33,102.6% in the fourth quarter. M&T Bank Corp now owns 3,060,288 shares of the casino operator’s stock valued at $197,463,000 after purchasing an additional 3,051,071 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Las Vegas Sands by 18.7% in the 4th quarter. Bank of New York Mellon Corp now owns 7,893,031 shares of the casino operator’s stock worth $513,757,000 after purchasing an additional 1,246,206 shares during the last quarter. Institutional investors and hedge funds own 39.16% of the company’s stock.

Las Vegas Sands Trading Down 0.8%

LVS opened at $45.43 on Wednesday. The firm has a 50 day simple moving average of $48.55 and a 200 day simple moving average of $53.54. Las Vegas Sands Corp. has a fifty-two week low of $44.22 and a fifty-two week high of $70.45. The company has a market cap of $30.10 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.04 and a beta of 0.83. The company has a debt-to-equity ratio of 8.64, a current ratio of 0.92 and a quick ratio of 0.91.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, April 22nd. The casino operator reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.15. Las Vegas Sands had a net margin of 13.41% and a return on equity of 118.27%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same period last year, the firm earned $0.59 earnings per share. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, sell-side analysts anticipate that Las Vegas Sands Corp. will post 3.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LVS shares. The Goldman Sachs Group reduced their price objective on Las Vegas Sands from $73.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft lowered their target price on Las Vegas Sands from $77.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Stifel Nicolaus boosted their target price on Las Vegas Sands from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Morgan Stanley upped their price target on Las Vegas Sands from $67.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen cut Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.31.

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.