L2 Asset Management LLC Purchases 16,815 Shares of Las Vegas Sands Corp. $LVS

L2 Asset Management LLC lifted its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 42.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,128 shares of the casino operator’s stock after purchasing an additional 16,815 shares during the quarter. L2 Asset Management LLC’s holdings in Las Vegas Sands were worth $2,442,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Las Vegas Sands by 4.4% in the second quarter. Vanguard Group Inc. now owns 43,072,014 shares of the casino operator’s stock valued at $1,874,063,000 after acquiring an additional 1,822,806 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Las Vegas Sands by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,722,816 shares of the casino operator’s stock worth $607,373,000 after purchasing an additional 592,321 shares in the last quarter. ARGA Investment Management LP grew its holdings in Las Vegas Sands by 36.8% during the 2nd quarter. ARGA Investment Management LP now owns 10,040,975 shares of the casino operator’s stock worth $436,883,000 after acquiring an additional 2,698,398 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Las Vegas Sands by 4.9% in the second quarter. Invesco Ltd. now owns 9,902,619 shares of the casino operator’s stock valued at $430,863,000 after purchasing an additional 459,821 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Las Vegas Sands by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 8,823,966 shares of the casino operator’s stock worth $382,294,000 after purchasing an additional 31,153 shares during the last quarter. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Las Vegas Sands

In related news, EVP D. Zachary Hudson sold 100,000 shares of Las Vegas Sands stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $64.99, for a total transaction of $6,499,000.00. Following the completion of the sale, the executive vice president directly owned 13,735 shares of the company’s stock, valued at approximately $892,637.65. This trade represents a 87.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert G. Goldstein sold 700,000 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $58.88, for a total value of $41,216,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,704,062 shares of company stock valued at $168,024,845 in the last ninety days. Company insiders own 1.20% of the company’s stock.

Las Vegas Sands Stock Performance

LVS opened at $66.27 on Monday. The company has a debt-to-equity ratio of 7.42, a quick ratio of 0.88 and a current ratio of 0.89. The business’s 50-day simple moving average is $59.40 and its 200 day simple moving average is $52.80. The firm has a market capitalization of $44.80 billion, a PE ratio of 29.98, a PEG ratio of 1.80 and a beta of 0.97. Las Vegas Sands Corp. has a 52-week low of $30.18 and a 52-week high of $70.45.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings data on Wednesday, October 22nd. The casino operator reported $0.78 EPS for the quarter, beating the consensus estimate of $0.62 by $0.16. Las Vegas Sands had a return on equity of 73.14% and a net margin of 12.69%.The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, sell-side analysts expect that Las Vegas Sands Corp. will post 2.6 earnings per share for the current fiscal year.

Las Vegas Sands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Investors of record on Tuesday, November 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. Las Vegas Sands’s payout ratio is presently 45.25%.

Analysts Set New Price Targets

Several research firms have recently commented on LVS. JPMorgan Chase & Co. lifted their target price on Las Vegas Sands from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Barclays lifted their price objective on Las Vegas Sands from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Seaport Global Securities increased their target price on Las Vegas Sands from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Wells Fargo & Company started coverage on shares of Las Vegas Sands in a report on Tuesday, November 18th. They issued an “equal weight” rating and a $66.00 price target for the company. Finally, Stifel Nicolaus boosted their target price on Las Vegas Sands from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Las Vegas Sands presently has an average rating of “Moderate Buy” and an average target price of $65.60.

About Las Vegas Sands

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People’s Republic of China; and Marina Bay Sands in Singapore.