Global Trust Asset Management LLC Takes Position in Las Vegas Sands Corp. (LVS)
Global Trust Asset Management LLC bought a new position in Las Vegas Sands Corp. (NYSE:LVS) during the 4th quarter, Holdings Channel reports. The fund bought 4,300 shares of the casino operator’s stock, valued at approximately $299,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. increased its position in Las Vegas Sands by 60.5% during the 4th quarter. Bessemer Group Inc. now owns 2,067 shares of the casino operator’s stock valued at $144,000 after purchasing an additional 779 shares during the period. San Francisco Sentry Investment Group CA purchased a new position in Las Vegas Sands during the 3rd quarter valued at $181,000. Steward Partners Investment Advisory LLC purchased a new position in Las Vegas Sands during the 3rd quarter valued at $198,000. Chase Investment Counsel Corp purchased a new position in Las Vegas Sands during the 3rd quarter valued at $200,000. Finally, Crossmark Global Holdings Inc. purchased a new position in Las Vegas Sands during the 3rd quarter valued at $209,000. 37.26% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on LVS. Stifel Nicolaus reissued a “buy” rating and set a $76.00 price objective on shares of Las Vegas Sands in a research report on Tuesday, January 9th. Zacks Investment Research raised shares of Las Vegas Sands from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, November 8th. Barclays boosted their price objective on shares of Las Vegas Sands from $69.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, December 7th. Jefferies Group began coverage on shares of Las Vegas Sands in a research report on Thursday, January 18th. They set a “hold” rating and a $73.00 price objective on the stock. Finally, Bank of America boosted their price objective on shares of Las Vegas Sands from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Las Vegas Sands presently has a consensus rating of “Buy” and an average price target of $70.54.
Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, January 24th. The casino operator reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.11. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.26 billion. Las Vegas Sands had a net margin of 21.78% and a return on equity of 34.76%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. research analysts anticipate that Las Vegas Sands Corp. will post 3.33 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 22nd will be given a $0.75 dividend. The ex-dividend date is Wednesday, March 21st. This is an increase from Las Vegas Sands’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.99%. Las Vegas Sands’s dividend payout ratio is currently 82.49%.
In other Las Vegas Sands news, Director George Jamieson bought 1,000 shares of Las Vegas Sands stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average cost of $66.96 per share, with a total value of $66,960.00. Following the transaction, the director now directly owns 6,488 shares of the company’s stock, valued at $434,436.48. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.10% of the stock is owned by corporate insiders.
Las Vegas Sands 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.
Want to see what other hedge funds are holding LVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Las Vegas Sands Corp. (NYSE:LVS).
Receive News & Ratings for Las Vegas Sands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Las Vegas Sands and related companies with MarketBeat.com's FREE daily email newsletter.