L2 Asset Management LLC Invests $2.17 Million in Las Vegas Sands Corp. $LVS

L2 Asset Management LLC purchased a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS) during the second quarter, Holdings Channel.com reports. The fund purchased 46,890 shares of the casino operator’s stock, valued at approximately $2,166,000.

A number of other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Las Vegas Sands in the 4th quarter worth about $26,000. DV Equities LLC bought a new position in shares of Las Vegas Sands during the 4th quarter worth approximately $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Las Vegas Sands during the 4th quarter worth approximately $29,000. Wilmington Savings Fund Society FSB boosted its stake in shares of Las Vegas Sands by 254.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator’s stock worth $36,000 after buying an additional 400 shares during the last quarter. Finally, Activest Wealth Management boosted its stake in shares of Las Vegas Sands by 1,208.0% in the 4th quarter. Activest Wealth Management now owns 654 shares of the casino operator’s stock worth $43,000 after buying an additional 604 shares during the last quarter. 39.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reduced their target price on Las Vegas Sands from $63.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Barclays cut their price objective on Las Vegas Sands from $63.00 to $59.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Argus downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Thursday, July 30th. Wells Fargo & Company lowered their target price on Las Vegas Sands from $65.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 14th. Finally, Stifel Nicolaus lowered their target price on Las Vegas Sands from $74.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $61.88.

Las Vegas Sands Trading Down 0.1%

NYSE:LVS opened at $46.97 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27. The stock has a market capitalization of $30.42 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85. The firm’s 50 day moving average is $46.64 and its 200 day moving average is $51.30. Las Vegas Sands Corp. has a 12 month low of $44.21 and a 12 month high of $70.45.

Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the company posted $0.66 EPS. Las Vegas Sands’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts expect that Las Vegas Sands Corp. will post 3.09 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Tuesday, August 4th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. Las Vegas Sands’s dividend 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.