Thornburg Investment Management Inc. Grows Position in Las Vegas Sands Corp. (LVS)

Thornburg Investment Management Inc. increased its position in Las Vegas Sands Corp. (NYSE:LVS) by 1.7% during the first quarter, Holdings Channel reports. The institutional investor owned 3,970,962 shares of the casino operator’s stock after acquiring an additional 66,485 shares during the period. Las Vegas Sands comprises 2.3% of Thornburg Investment Management Inc.’s investment portfolio, making the stock its 12th biggest position. Thornburg Investment Management Inc.’s holdings in Las Vegas Sands were worth $242,070,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Private Capital Group LLC boosted its position in Las Vegas Sands by 55.7% during the first quarter. Private Capital Group LLC now owns 467 shares of the casino operator’s stock worth $28,000 after purchasing an additional 167 shares during the period. First Interstate Bank boosted its position in Las Vegas Sands by 70.8% during the first quarter. First Interstate Bank now owns 410 shares of the casino operator’s stock worth $25,000 after purchasing an additional 170 shares during the period. BOKF NA boosted its position in Las Vegas Sands by 2.7% during the fourth quarter. BOKF NA now owns 6,912 shares of the casino operator’s stock worth $359,000 after purchasing an additional 181 shares during the period. Bessemer Group Inc. boosted its position in Las Vegas Sands by 24.8% during the fourth quarter. Bessemer Group Inc. now owns 972 shares of the casino operator’s stock worth $50,000 after purchasing an additional 193 shares during the period. Finally, Steinberg Global Asset Management boosted its position in Las Vegas Sands by 1.5% during the first quarter. Steinberg Global Asset Management now owns 13,380 shares of the casino operator’s stock worth $816,000 after purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 36.76% of the company’s stock.

A number of brokerages have issued reports on LVS. Telsey Advisory Group reaffirmed a “market perform” rating and set a $64.00 target price (up previously from $58.00) on shares of Las Vegas Sands in a research report on Thursday, April 18th. Bank of America reaffirmed a “neutral” rating and set a $70.00 target price (up previously from $64.00) on shares of Las Vegas Sands in a research report on Wednesday, April 17th. HSBC cut Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. They noted that the move was a valuation call. JPMorgan Chase & Co. upped their target price on Las Vegas Sands from $62.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. Finally, Deutsche Bank upped their target price on Las Vegas Sands from $60.00 to $69.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $68.60.

Shares of LVS traded down $2.00 during mid-day trading on Friday, hitting $61.40. The company’s stock had a trading volume of 93,856 shares, compared to its average volume of 3,551,322. Las Vegas Sands Corp. has a one year low of $47.39 and a one year high of $81.45. The company has a current ratio of 1.73, a quick ratio of 1.72 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $49.00 billion, a price-to-earnings ratio of 18.67 and a beta of 1.43.

Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings data on Wednesday, April 17th. The casino operator reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Las Vegas Sands had a return on equity of 34.52% and a net margin of 11.15%. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the prior year, the business earned $1.04 earnings per share. Las Vegas Sands’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts predict that Las Vegas Sands Corp. will post 3.35 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 19th will be given a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $3.08 annualized dividend and a yield of 5.02%. Las Vegas Sands’s dividend payout ratio (DPR) is currently 92.77%.

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About Las Vegas Sands

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.

See Also: Green Investing

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

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