CIBC Asset Management Inc Purchases 25,056 Shares of Las Vegas Sands Corp. $LVS

CIBC Asset Management Inc raised its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 41.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 85,682 shares of the casino operator’s stock after acquiring an additional 25,056 shares during the quarter. CIBC Asset Management Inc’s holdings in Las Vegas Sands were worth $5,577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in Las Vegas Sands by 18.7% during the fourth quarter. Bank of New York Mellon Corp now owns 7,893,031 shares of the casino operator’s stock valued at $513,757,000 after purchasing an additional 1,246,206 shares during the period. Westpac Banking Corp grew its holdings in Las Vegas Sands by 6,889.2% during the fourth quarter. Westpac Banking Corp now owns 51,021 shares of the casino operator’s stock valued at $3,321,000 after purchasing an additional 50,291 shares during the period. AXQ Capital LP bought a new position in Las Vegas Sands during the fourth quarter valued at $665,000. Rothschild Wealth LLC bought a new position in Las Vegas Sands during the fourth quarter valued at $470,000. Finally, Essex Financial Services Inc. bought a new position in Las Vegas Sands during the fourth quarter valued at $253,000. 39.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Las Vegas Sands news, CEO Patrick Dumont sold 60,165 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $54.75, for a total transaction of $3,294,033.75. Following the sale, the chief executive officer owned 511,942 shares in the company, valued at $28,028,824.50. This trade represents a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by insiders.

Las Vegas Sands Trading Down 0.9%

Shares of LVS stock opened at $50.30 on Friday. The company has a debt-to-equity ratio of 8.64, a quick ratio of 0.91 and a current ratio of 0.92. Las Vegas Sands Corp. has a 52-week low of $40.03 and a 52-week high of $70.45. The company has a market capitalization of $33.33 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.14 and a beta of 0.81. The business’s fifty day moving average is $52.87 and its 200 day moving average is $57.87.

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

Las Vegas Sands Announces Dividend

The company 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 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 (DPR) is presently 44.44%.

Analyst Upgrades and Downgrades

LVS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Las Vegas Sands from $77.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Morgan Stanley increased their price objective on Las Vegas Sands from $67.00 to $69.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. HSBC increased their price objective on Las Vegas Sands from $73.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Wall Street Zen lowered Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Stifel Nicolaus raised their price target on Las Vegas Sands from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Las Vegas Sands currently has an average rating of “Moderate Buy” and an average price target of $67.91.

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.