Fred Alger Management LLC Takes Position in Las Vegas Sands Corp. (NYSE:LVS)

Fred Alger Management LLC bought a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 202,997 shares of the casino operator’s stock, valued at approximately $10,219,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Las Vegas Sands by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,351,573 shares of the casino operator’s stock worth $502,307,000 after buying an additional 1,536,754 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Las Vegas Sands by 0.8% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,500,248 shares of the casino operator’s stock worth $376,136,000 after acquiring an additional 68,568 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Las Vegas Sands by 1.4% during the third quarter. The Manufacturers Life Insurance Company now owns 5,627,422 shares of the casino operator’s stock worth $283,284,000 after purchasing an additional 77,807 shares in the last quarter. Renaissance Technologies LLC raised its stake in Las Vegas Sands by 44.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,949,670 shares of the casino operator’s stock valued at $130,523,000 after purchasing an additional 903,400 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Las Vegas Sands by 2.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,659,427 shares of the casino operator’s stock valued at $133,876,000 after purchasing an additional 57,739 shares in the last quarter. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Price Performance

LVS stock opened at $53.11 on Friday. Las Vegas Sands Corp. has a 52-week low of $36.62 and a 52-week high of $55.65. The business has a fifty day moving average of $50.77 and a two-hundred day moving average of $45.03. The stock has a market cap of $38.51 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 1.36 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 3.09.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). Las Vegas Sands had a return on equity of 44.26% and a net margin of 13.29%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Las Vegas Sands Corp. will post 2.33 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Tuesday, November 5th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. Las Vegas Sands’s dividend payout ratio is currently 39.60%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Susquehanna upped their target price on shares of Las Vegas Sands from $51.00 to $59.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Stifel Nicolaus increased their price objective on shares of Las Vegas Sands from $55.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Morgan Stanley boosted their target price on Las Vegas Sands from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Mizuho upped their price target on Las Vegas Sands from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Las Vegas Sands from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Insider Transactions at Las Vegas Sands

In related news, CEO Robert G. Goldstein sold 24,324 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $52.00, for a total transaction of $1,264,848.00. Following the transaction, the chief executive officer now owns 60,187 shares of the company’s stock, valued at approximately $3,129,724. This represents a 28.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.91% of the company’s stock.

Las Vegas Sands Profile

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, 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 Marina Bay Sands in Singapore.