Renaissance Technologies LLC Boosts Stock Position in Las Vegas Sands Corp. $LVS

Renaissance Technologies LLC raised its stake in Las Vegas Sands Corp. (NYSE:LVS) by 16.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,453,095 shares of the casino operator’s stock after purchasing an additional 202,700 shares during the quarter. Renaissance Technologies LLC owned 0.22% of Las Vegas Sands worth $78,293,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Las Vegas Sands during the fourth quarter worth $26,000. DV Equities LLC purchased a new position in Las Vegas Sands during the 4th quarter worth $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Las Vegas Sands during the 4th quarter worth $29,000. Wilmington Savings Fund Society FSB lifted 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 acquiring an additional 400 shares during the period. Finally, Activest Wealth Management lifted 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 acquiring an additional 604 shares during the period. Institutional investors and hedge funds own 39.16% of the company’s stock.

Wall Street Analysts Forecast Growth

LVS has been the subject of several analyst reports. HSBC increased their price target on shares of Las Vegas Sands from $73.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Seaport Research Partners dropped their target price on Las Vegas Sands from $72.00 to $69.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. JPMorgan Chase & Co. cut their target price on Las Vegas Sands from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday. Stifel Nicolaus reduced their price target on Las Vegas Sands from $74.00 to $60.00 and set a “buy” rating for the company in a report on Thursday. Finally, Zacks Research downgraded Las Vegas Sands from a “hold” rating to a “strong sell” rating in a research note on Thursday. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Las Vegas Sands has a consensus rating of “Moderate Buy” and an average price target of $62.31.

Las Vegas Sands Trading Up 0.2%

Shares of Las Vegas Sands stock opened at $46.12 on Friday. Las Vegas Sands Corp. has a 12-month low of $44.21 and a 12-month high of $70.45. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 8.64. The stock has a market cap of $30.56 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.15 and a beta of 0.83. The company has a 50-day moving average of $48.24 and a two-hundred day moving average of $53.22.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.17). The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Las Vegas Sands had a return on equity of 117.08% and a net margin of 12.59%.Las Vegas Sands’s revenue was down .7% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. On average, research analysts anticipate that Las Vegas Sands Corp. will post 3.21 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Tuesday, August 4th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, August 4th. Las Vegas Sands’s payout ratio is presently 46.69%.

Trending Headlines about Las Vegas Sands

Here are the key news stories impacting Las Vegas Sands this week:

• Positive Sentiment: Investors are still looking beyond near-term weakness because Las Vegas Sands is investing heavily in premium travel demand, including Macau property upgrades and an $8 billion Singapore expansion that could support future growth. Article Title
• Positive Sentiment: Despite the selloff after earnings, some market coverage says LVS is gaining as investors focus on the company’s long-term assets and ignore temporary headwinds. Article Title

Las Vegas Sands 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.