Ieq Capital LLC Invests $9.32 Million in Las Vegas Sands Corp. $LVS

Ieq Capital LLC bought a new stake in Las Vegas Sands Corp. (NYSE:LVS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 201,788 shares of the casino operator’s stock, valued at approximately $9,321,000.

A number of other hedge funds have also bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in Las Vegas Sands in the fourth quarter worth $26,000. DV Equities LLC bought a new position in Las Vegas Sands in the 4th quarter valued at $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Las Vegas Sands during the 4th quarter valued at $29,000. Wilmington Savings Fund Society FSB increased its position in shares of Las Vegas Sands by 254.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator’s stock valued at $36,000 after purchasing an additional 400 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Las Vegas Sands by 182.4% during the 3rd quarter. IFP Advisors Inc now owns 672 shares of the casino operator’s stock worth $36,000 after purchasing an additional 434 shares during the period. 39.16% of the stock is currently owned by institutional investors.

Las Vegas Sands Stock Performance

Shares of LVS opened at $47.04 on Friday. Las Vegas Sands Corp. has a 52-week low of $44.21 and a 52-week high of $70.45. The stock’s 50-day simple moving average is $46.69 and its 200 day simple moving average is $51.40. The company has a debt-to-equity ratio of 15.27, a quick ratio of 0.99 and a current ratio of 1.00. The stock has a market capitalization of $30.47 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the firm earned $0.66 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Research analysts forecast that Las Vegas Sands Corp. will post 3.09 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Tuesday, August 4th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, August 4th. Las Vegas Sands’s dividend payout ratio (DPR) is 46.69%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LVS. Bank of America cut their price target on shares of Las Vegas Sands from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. Wells Fargo & Company decreased their price objective on shares of Las Vegas Sands from $65.00 to $53.00 and set an “equal weight” rating for the company in a report on Tuesday, July 14th. Citigroup lowered 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 report on Friday, July 10th. Mizuho dropped their target price 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, July 23rd. Finally, Morgan Stanley reduced their target price on shares of Las Vegas Sands from $68.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, July 27th. Ten analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $61.88.

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.