Saranac Partners Ltd Purchases 15,784 Shares of Las Vegas Sands Corp. $LVS

Saranac Partners Ltd boosted its position in Las Vegas Sands Corp. (NYSE:LVS) by 18.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,082 shares of the casino operator’s stock after purchasing an additional 15,784 shares during the quarter. Las Vegas Sands comprises 2.5% of Saranac Partners Ltd’s investment portfolio, making the stock its 18th biggest position. Saranac Partners Ltd’s holdings in Las Vegas Sands were worth $6,462,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LVS. Mackenzie Financial Corp increased its holdings in shares of Las Vegas Sands by 0.3% in the third quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator’s stock worth $2,902,000 after purchasing an additional 156 shares during the period. Westside Investment Management Inc. raised its position in shares of Las Vegas Sands by 48.0% in the third quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator’s stock worth $28,000 after buying an additional 166 shares in the last quarter. Parallel Advisors LLC boosted its stake in Las Vegas Sands by 7.8% during the third quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator’s stock valued at $132,000 after buying an additional 177 shares during the period. Alps Advisors Inc. boosted its stake in Las Vegas Sands by 2.4% during the third quarter. Alps Advisors Inc. now owns 8,528 shares of the casino operator’s stock valued at $459,000 after buying an additional 197 shares during the period. Finally, United Capital Financial Advisors LLC grew its position in Las Vegas Sands by 5.5% during the third quarter. United Capital Financial Advisors LLC now owns 4,945 shares of the casino operator’s stock worth $266,000 after buying an additional 258 shares in the last quarter. 39.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Patrick Dumont sold 60,165 shares of Las Vegas Sands stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $54.75, for a total value of $3,294,033.75. Following the sale, the chief executive officer directly owned 511,942 shares in the company, valued at approximately $28,028,824.50. This trade represents a 10.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Las Vegas Sands from $71.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Barclays boosted their price objective on Las Vegas Sands from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. The Goldman Sachs Group lowered their target price on shares of Las Vegas Sands from $80.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Wall Street Zen lowered shares of Las Vegas Sands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Morgan Stanley boosted their price target on shares of Las Vegas Sands from $67.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 23rd. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.28.

Las Vegas Sands Trading Down 0.6%

Shares of LVS opened at $49.91 on Wednesday. The stock has a market capitalization of $33.07 billion, a P/E ratio of 18.48, a PEG ratio of 1.14 and a beta of 0.85. Las Vegas Sands Corp. has a twelve month low of $39.29 and a twelve month high of $70.45. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 8.64. The firm has a fifty day simple moving average of $53.78 and a two-hundred day simple moving average of $59.02.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings data on Wednesday, April 22nd. The casino operator reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.15. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Las Vegas Sands had a net margin of 13.41% and a return on equity of 118.27%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 earnings per share. On average, research analysts anticipate that Las Vegas Sands Corp. will post 3.38 EPS for the current year.

Las Vegas Sands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 2.4%. Las Vegas Sands’s dividend payout ratio is presently 44.44%.

Las Vegas Sands Profile

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.