Legal & General Group Plc Invests $83.70 Million in Las Vegas Sands Corp. $LVS

Legal & General Group Plc acquired a new stake in Las Vegas Sands Corp. (NYSE:LVS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,812,004 shares of the casino operator’s stock, valued at approximately $83,696,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in Las Vegas Sands during the 4th quarter valued at $26,000. DV Equities LLC acquired a new stake in shares of Las Vegas Sands in the fourth quarter valued at $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in Las Vegas Sands during the fourth quarter valued at about $29,000. IFP Advisors Inc grew its holdings in Las Vegas Sands by 182.4% during the third quarter. IFP Advisors Inc now owns 672 shares of the casino operator’s stock worth $36,000 after acquiring an additional 434 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its position in Las Vegas Sands by 254.8% in the fourth 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 in the last quarter. Institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Stock Down 4.6%

Shares of Las Vegas Sands stock opened at $44.12 on Friday. Las Vegas Sands Corp. has a 1 year low of $43.92 and a 1 year high of $70.45. The company has a market cap of $28.57 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.14 and a beta of 0.85. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27. The stock has a 50-day moving average price of $46.48 and a 200 day moving average price of $51.06.

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

Las Vegas Sands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Tuesday, August 4th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. Las Vegas Sands’s dividend payout ratio is presently 46.69%.

Analyst Ratings Changes

LVS has been the subject of several research reports. Zacks Research lowered shares of Las Vegas Sands from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 23rd. Wall Street Zen lowered shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Mizuho dropped their price target on Las Vegas Sands from $67.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. The Goldman Sachs Group reduced their price objective on Las Vegas Sands from $63.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Finally, Citigroup cut their target price on Las Vegas Sands from $78.50 to $73.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Las Vegas Sands presently has an average rating of “Hold” and a consensus price target of $61.88.

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.