Cibc World Market Inc. Purchases Shares of 37,515 Las Vegas Sands Corp. $LVS

Cibc World Market Inc. acquired a new position in shares of Las Vegas Sands Corp. (NYSE:LVS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,515 shares of the casino operator’s stock, valued at approximately $1,733,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LVS. AQR Capital Management LLC boosted its stake in shares of Las Vegas Sands by 222.7% in the 4th quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator’s stock valued at $592,223,000 after purchasing an additional 6,279,390 shares in the last quarter. Norges Bank acquired a new stake in shares of Las Vegas Sands during the 4th quarter worth about $364,892,000. Arrowstreet Capital Limited Partnership increased its position in shares of Las Vegas Sands by 410.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator’s stock worth $277,963,000 after purchasing an additional 4,154,753 shares in the last quarter. Amundi increased its position in shares of Las Vegas Sands by 157.2% during the 1st quarter. Amundi now owns 2,864,789 shares of the casino operator’s stock worth $154,355,000 after purchasing an additional 1,750,758 shares in the last quarter. Finally, Bank of Nova Scotia bought a new position in Las Vegas Sands during the 2nd quarter valued at about $65,880,000. 39.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays reduced their price target on shares of 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 lowered shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Thursday, July 30th. Wells Fargo & Company cut their target price on shares of Las Vegas Sands from $65.00 to $53.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 14th. Susquehanna reduced their target price on Las Vegas Sands from $64.00 to $63.00 and set a “positive” rating on the stock in a report on Wednesday, July 22nd. Finally, Bank of America reduced their target price on Las Vegas Sands from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. Ten equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $61.88.

Las Vegas Sands Stock Performance

Shares of NYSE:LVS opened at $44.12 on Friday. The business has a fifty day moving average of $46.48 and a 200-day moving average of $51.06. The company has a debt-to-equity ratio of 15.27, a quick ratio of 0.99 and a current ratio of 1.00. Las Vegas Sands Corp. has a twelve month low of $43.92 and a twelve month high of $70.45. The firm has a market cap of $28.57 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.14 and a beta of 0.85.

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

Las Vegas Sands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Tuesday, August 4th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, August 4th. Las Vegas Sands’s dividend payout ratio (DPR) 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.