Pinnacle Associates Ltd. Has $12.39 Million Position in Las Vegas Sands Corp. $LVS

Pinnacle Associates Ltd. lessened its stake in Las Vegas Sands Corp. (NYSE:LVS) by 4.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 268,187 shares of the casino operator’s stock after selling 13,297 shares during the period. Pinnacle Associates Ltd.’s holdings in Las Vegas Sands were worth $12,388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LVS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Las Vegas Sands by 8.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,251 shares of the casino operator’s stock worth $1,207,000 after acquiring an additional 2,418 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Las Vegas Sands by 38.9% in the first quarter. Woodline Partners LP now owns 29,032 shares of the casino operator’s stock worth $1,122,000 after acquiring an additional 8,132 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Las Vegas Sands by 91.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,146 shares of the casino operator’s stock valued at $93,000 after acquiring an additional 1,027 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in Las Vegas Sands in the second quarter valued at approximately $414,000. Finally, Cerity Partners LLC increased its position in Las Vegas Sands by 70.0% during the 2nd quarter. Cerity Partners LLC now owns 17,595 shares of the casino operator’s stock valued at $766,000 after purchasing an additional 7,243 shares during the period. Institutional investors and hedge funds own 39.16% of the company’s stock.

Las Vegas Sands Stock Performance

Shares of Las Vegas Sands stock opened at $46.21 on Friday. Las Vegas Sands Corp. has a one year low of $44.21 and a one year high of $70.45. The firm has a market capitalization of $29.93 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.13 and a beta of 0.85. The business has a 50-day simple moving average of $47.17 and a 200 day simple moving average of $51.80. The company has a debt-to-equity ratio of 15.27, a current ratio of 1.00 and a quick ratio of 0.99.

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

Las Vegas Sands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 4th. Las Vegas Sands’s dividend payout ratio is presently 46.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LVS. Wells Fargo & Company dropped their price target on shares of Las Vegas Sands from $65.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 14th. Mizuho decreased their price target on Las Vegas Sands from $67.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Citigroup lowered their price objective on Las Vegas Sands from $78.50 to $73.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Wall Street Zen lowered Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Barclays decreased their target price on Las Vegas Sands from $63.00 to $59.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.88.

Las Vegas Sands Company 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.