Clark Capital Management Group Inc. lifted its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 68.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 507,660 shares of the casino operator’s stock after buying an additional 205,633 shares during the quarter. Las Vegas Sands accounts for approximately 1.1% of Clark Capital Management Group Inc.’s portfolio, making the stock its 29th biggest position. Clark Capital Management Group Inc.’s holdings in Las Vegas Sands were worth $35,277,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in Las Vegas Sands by 67.4% during the third quarter. First Trust Advisors LP now owns 97,855 shares of the casino operator’s stock worth $6,278,000 after purchasing an additional 39,397 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Las Vegas Sands during the third quarter worth $209,000. Victory Capital Management Inc. lifted its stake in Las Vegas Sands by 18.4% during the third quarter. Victory Capital Management Inc. now owns 188,532 shares of the casino operator’s stock worth $12,096,000 after purchasing an additional 29,327 shares during the last quarter. Chicago Equity Partners LLC bought a new position in Las Vegas Sands during the third quarter worth $443,000. Finally, Prudential Financial Inc. lifted its stake in Las Vegas Sands by 3.3% during the third quarter. Prudential Financial Inc. now owns 30,175 shares of the casino operator’s stock worth $1,936,000 after purchasing an additional 950 shares during the last quarter. 38.68% of the stock is owned by institutional investors and hedge funds.
Las Vegas Sands Corp. (LVS) traded up $0.59 during mid-day trading on Wednesday, reaching $74.45. The company’s stock had a trading volume of 322,974 shares, compared to its average volume of 3,874,205. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.09 and a quick ratio of 1.07. The company has a market capitalization of $58,270.00, a PE ratio of 25.65 and a beta of 1.71. Las Vegas Sands Corp. has a 12 month low of $54.71 and a 12 month high of $79.84.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 22nd will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.03%. This is a boost from Las Vegas Sands’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Wednesday, March 21st. Las Vegas Sands’s dividend payout ratio (DPR) is presently 101.39%.
LVS has been the topic of several research analyst reports. Barclays raised their price objective on Las Vegas Sands from $69.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, December 7th. Zacks Investment Research upgraded Las Vegas Sands from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Tuesday, December 26th. Stifel Nicolaus restated a “buy” rating and set a $76.00 price objective on shares of Las Vegas Sands in a research note on Tuesday, January 9th. Jefferies Group initiated coverage on Las Vegas Sands in a research note on Thursday, January 18th. They set a “hold” rating and a $73.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Las Vegas Sands from $63.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $71.16.
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About Las Vegas Sands
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.
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