Saranac Partners Ltd Purchases 15,784 Shares of Las Vegas Sands Corp. $LVS

Saranac Partners Ltd increased its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 18.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,082 shares of the casino operator’s stock after purchasing an additional 15,784 shares during the quarter. Las Vegas Sands makes up about 2.5% of Saranac Partners Ltd’s holdings, making the stock its 18th biggest position. Saranac Partners Ltd’s holdings in Las Vegas Sands were worth $6,462,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in shares of Las Vegas Sands by 0.3% in the 3rd quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator’s stock worth $2,902,000 after buying an additional 156 shares during the last quarter. Westside Investment Management Inc. increased its position in shares of Las Vegas Sands by 48.0% during the third quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator’s stock valued at $28,000 after acquiring an additional 166 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Las Vegas Sands by 7.8% during the third quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator’s stock valued at $132,000 after acquiring an additional 177 shares during the last quarter. Alps Advisors Inc. lifted its holdings in Las Vegas Sands by 2.4% during the third quarter. Alps Advisors Inc. now owns 8,528 shares of the casino operator’s stock worth $459,000 after acquiring an additional 197 shares during the period. Finally, United Capital Financial Advisors LLC boosted its position in Las Vegas Sands by 5.5% in the third quarter. United Capital Financial Advisors LLC now owns 4,945 shares of the casino operator’s stock worth $266,000 after purchasing an additional 258 shares during the last quarter. 39.16% of the stock is owned by institutional investors.

Las Vegas Sands Stock Performance

NYSE LVS opened at $49.91 on Wednesday. The firm has a market cap of $33.07 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 1.14 and a beta of 0.85. 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 company’s 50 day moving average is $53.78 and its 200-day moving average is $59.02. Las Vegas Sands Corp. has a 12-month low of $39.29 and a 12-month high of $70.45.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings data on Wednesday, April 22nd. The casino operator reported $0.91 EPS for the quarter, topping the consensus estimate 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 company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period last year, the firm earned $0.59 EPS. Las Vegas Sands’s revenue for the quarter was up 25.3% on a year-over-year basis. Sell-side analysts predict that Las Vegas Sands Corp. will post 3.38 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Tuesday, May 5th were given a $0.30 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $1.20 annualized dividend and a dividend yield of 2.4%. Las Vegas Sands’s payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays raised their target price on Las Vegas Sands from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Stifel Nicolaus boosted their price target on shares of Las Vegas Sands from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Argus decreased their price objective on shares of Las Vegas Sands from $80.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Las Vegas Sands from $77.00 to $73.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Las Vegas Sands in a research note on Tuesday, May 12th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.28.

Insider Activity

In related news, CEO Patrick Dumont sold 60,165 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $54.75, for a total transaction of $3,294,033.75. Following the sale, the chief executive officer directly owned 511,942 shares in the company, valued at approximately $28,028,824.50. The trade was a 10.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.

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.