Mystic Asset Management Inc. Makes New Investment in Las Vegas Sands Corp. $LVS

Mystic Asset Management Inc. bought a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,354 shares of the casino operator’s stock, valued at approximately $663,000.

Several other hedge funds also recently modified their holdings of LVS. Vise Technologies Inc. bought a new stake in shares of Las Vegas Sands during the second quarter worth approximately $255,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Las Vegas Sands during the second quarter valued at approximately $343,000. E Fund Management Co. Ltd. bought a new stake in Las Vegas Sands in the second quarter valued at approximately $275,000. Asahi Life Asset Management CO. LTD. bought a new stake in Las Vegas Sands in the second quarter valued at approximately $352,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Las Vegas Sands in the second quarter worth $365,000. Institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Stock Down 1.2%

Las Vegas Sands stock opened at $46.00 on Friday. The company has a market cap of $29.79 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 1.15 and a beta of 0.85. Las Vegas Sands Corp. has a 1-year low of $44.21 and a 1-year high of $70.45. The company has a fifty day simple moving average of $46.77 and a 200 day simple moving average of $51.43. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.17). Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. Research analysts anticipate that Las Vegas Sands Corp. will post 3.09 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. Las Vegas Sands’s payout ratio is currently 46.69%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LVS. Citigroup reduced their price target on shares of Las Vegas Sands from $78.50 to $73.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $62.00 price objective (down from $73.00) on shares of Las Vegas Sands in a research report on Thursday, July 23rd. Argus downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Thursday, July 30th. HSBC lifted their target price on Las Vegas Sands from $73.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings cut Las Vegas Sands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Ten investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Las Vegas Sands has a consensus rating of “Hold” and an average target price of $61.88.

Las Vegas Sands Company 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.