Northern Trust Corp grew its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 8.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,776,337 shares of the casino operator’s stock after acquiring an additional 220,931 shares during the period. Northern Trust Corp owned about 0.35% of Las Vegas Sands worth $212,002,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Las Vegas Sands in the 1st quarter worth approximately $118,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Las Vegas Sands in the 2nd quarter worth approximately $135,000. Summit Trail Advisors LLC grew its stake in shares of Las Vegas Sands by 6,587.3% in the 1st quarter. Summit Trail Advisors LLC now owns 196,072 shares of the casino operator’s stock worth $196,000 after buying an additional 193,140 shares during the last quarter. All Terrain Financial Advisors LLC purchased a new stake in shares of Las Vegas Sands in the 1st quarter worth approximately $201,000. Finally, Zacks Investment Management purchased a new stake in shares of Las Vegas Sands in the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 38.52% of the company’s stock.
Shares of LVS opened at $60.66 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.68 and a debt-to-equity ratio of 1.40. Las Vegas Sands Corp. has a 12 month low of $59.11 and a 12 month high of $81.45. The firm has a market cap of $47.64 billion, a price-to-earnings ratio of 17.63 and a beta of 1.61.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Wednesday, September 19th will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, September 18th. This represents a $3.00 annualized dividend and a yield of 4.95%. Las Vegas Sands’s dividend payout ratio is 98.68%.
In other Las Vegas Sands news, COO Robert G. Goldstein bought 10,000 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were acquired at an average cost of $71.13 per share, for a total transaction of $711,300.00. Following the purchase, the chief operating officer now owns 10,000 shares in the company, valued at approximately $711,300. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lawrence A. Jacobs sold 66,667 shares of the stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $60.95, for a total value of $4,063,353.65. Following the sale, the executive vice president now owns 66,667 shares in the company, valued at $4,063,353.65. The disclosure for this sale can be found here. Company insiders own 10.20% of the company’s stock.
Several research firms recently weighed in on LVS. ValuEngine downgraded Las Vegas Sands from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Credit Suisse Group began coverage on Las Vegas Sands in a research note on Tuesday, August 14th. They issued a “neutral” rating and a $72.00 price target on the stock. Stifel Nicolaus cut their price target on Las Vegas Sands from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, July 26th. Morgan Stanley cut their price target on Las Vegas Sands from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, July 26th. Finally, Nomura cut their price target on Las Vegas Sands from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, July 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $77.00.
Las Vegas Sands Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, 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 iconic Marina Bay Sands in Singapore.
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