Night Squared LP Makes New Investment in Las Vegas Sands Corp. $LVS

Night Squared LP bought a new stake in Las Vegas Sands Corp. (NYSE:LVS) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 119,503 shares of the casino operator’s stock, valued at approximately $5,200,000. Las Vegas Sands comprises 2.3% of Night Squared LP’s holdings, making the stock its 18th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in Las Vegas Sands by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,153,220 shares of the casino operator’s stock worth $83,179,000 after purchasing an additional 15,158 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Las Vegas Sands by 21.1% in the first quarter. Deutsche Bank AG now owns 1,629,899 shares of the casino operator’s stock valued at $62,963,000 after purchasing an additional 283,455 shares during the last quarter. National Bank of Canada FI lifted its position in Las Vegas Sands by 36.3% during the first quarter. National Bank of Canada FI now owns 222,899 shares of the casino operator’s stock worth $8,611,000 after buying an additional 59,310 shares in the last quarter. Invesco Ltd. boosted its stake in Las Vegas Sands by 9.1% during the first quarter. Invesco Ltd. now owns 9,442,798 shares of the casino operator’s stock worth $364,775,000 after buying an additional 790,952 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Las Vegas Sands in the 1st quarter valued at $183,836,000. 39.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Las Vegas Sands

In related news, Director Irwin Chafetz sold 30,000 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $69.76, for a total transaction of $2,092,800.00. Following the transaction, the director owned 70,949 shares of the company’s stock, valued at approximately $4,949,402.24. This represents a 29.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert G. Goldstein sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $70.17, for a total value of $7,017,000.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,704,062 shares of company stock worth $168,024,845. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LVS has been the topic of several analyst reports. Zacks Research upgraded Las Vegas Sands from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Wall Street Zen upgraded shares of Las Vegas Sands from a “hold” rating to a “buy” rating in a research report on Sunday, September 7th. JPMorgan Chase & Co. lifted their target price on shares of Las Vegas Sands from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Mizuho boosted their target price on shares of Las Vegas Sands from $56.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Finally, Wells Fargo & Company started coverage on shares of Las Vegas Sands in a report on Tuesday, November 18th. They set an “equal weight” rating and a $66.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.80.

Las Vegas Sands Trading Down 1.0%

Shares of LVS stock opened at $66.42 on Wednesday. Las Vegas Sands Corp. has a 1-year low of $30.18 and a 1-year high of $70.45. The firm has a market cap of $44.91 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.82 and a beta of 0.97. The company has a 50-day moving average of $59.89 and a two-hundred day moving average of $53.18. The company has a debt-to-equity ratio of 7.42, a current ratio of 0.89 and a quick ratio of 0.88.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, October 22nd. The casino operator reported $0.78 EPS for the quarter, topping the consensus estimate of $0.62 by $0.16. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.04 billion. Las Vegas Sands had a net margin of 12.69% and a return on equity of 73.14%. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. On average, analysts predict that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Tuesday, November 4th were paid a $0.25 dividend. 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%.

Las Vegas Sands Profile

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.