Las Vegas Sands Corp. (LVS) Stake Lowered by Formidable Asset Management LLC

Formidable Asset Management LLC decreased its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 0.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,200 shares of the casino operator’s stock after selling 27 shares during the quarter. Las Vegas Sands Corp. accounts for 1.6% of Formidable Asset Management LLC’s portfolio, making the stock its 11th largest position. Formidable Asset Management LLC’s holdings in Las Vegas Sands Corp. were worth $3,207,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LVS. BlackRock Inc. grew its holdings in shares of Las Vegas Sands Corp. by 2,504.7% during the first quarter. BlackRock Inc. now owns 15,764,400 shares of the casino operator’s stock valued at $899,674,000 after buying an additional 15,159,167 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Las Vegas Sands Corp. by 40.8% during the second quarter. Bank of New York Mellon Corp now owns 6,506,795 shares of the casino operator’s stock valued at $415,720,000 after buying an additional 1,886,376 shares during the last quarter. Nicholas Investment Partners LP grew its holdings in shares of Las Vegas Sands Corp. by 2,418.0% during the first quarter. Nicholas Investment Partners LP now owns 1,500,000 shares of the casino operator’s stock valued at $85,605,000 after buying an additional 1,440,429 shares during the last quarter. Investec Asset Management LTD purchased a new stake in shares of Las Vegas Sands Corp. during the first quarter valued at approximately $74,167,000. Finally, Thornburg Investment Management Inc. grew its holdings in shares of Las Vegas Sands Corp. by 39.0% during the first quarter. Thornburg Investment Management Inc. now owns 4,187,059 shares of the casino operator’s stock valued at $238,955,000 after buying an additional 1,174,688 shares during the last quarter. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Las Vegas Sands Corp. (NYSE:LVS) traded down 0.41% on Friday, reaching $63.83. 819,913 shares of the company’s stock traded hands. The stock has a market cap of $50.55 billion, a price-to-earnings ratio of 24.84 and a beta of 1.78. The stock has a 50 day moving average price of $61.52 and a 200 day moving average price of $59.78. Las Vegas Sands Corp. has a 12-month low of $51.35 and a 12-month high of $66.22.

Las Vegas Sands Corp. (NYSE:LVS) last posted its earnings results on Wednesday, July 26th. The casino operator reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.14. Las Vegas Sands Corp. had a net margin of 16.66% and a return on equity of 29.91%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the business posted $0.52 EPS. The business’s revenue was up 18.5% compared to the same quarter last year. Analysts forecast that Las Vegas Sands Corp. will post $2.74 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 21st will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Wednesday, September 20th. Las Vegas Sands Corp.’s dividend payout ratio is currently 113.18%.

A number of equities research analysts have recently commented on the stock. Instinet reiterated a “neutral” rating and set a $54.00 price target (up previously from $50.00) on shares of Las Vegas Sands Corp. in a report on Monday, June 19th. Zacks Investment Research upgraded shares of Las Vegas Sands Corp. from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Tuesday, June 27th. Stifel Nicolaus reiterated a “buy” rating on shares of Las Vegas Sands Corp. in a report on Sunday, September 3rd. Wells Fargo & Company reiterated a “neutral” rating on shares of Las Vegas Sands Corp. in a report on Tuesday, July 4th. Finally, Vetr cut shares of Las Vegas Sands Corp. from a “buy” rating to a “hold” rating and set a $64.62 price target on the stock. in a report on Monday, June 5th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $62.91.

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Las Vegas Sands Corp. Company Profile

Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.

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Institutional Ownership by Quarter for Las Vegas Sands Corp. (NYSE:LVS)

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