Appaloosa LP Sells 628,323 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Appaloosa LP lessened its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 41.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 900,000 shares of the casino operator’s stock after selling 628,323 shares during the period. Las Vegas Sands makes up about 0.7% of Appaloosa LP’s holdings, making the stock its 29th biggest position. Appaloosa LP’s holdings in Las Vegas Sands were worth $46,224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Jackson Hole Trust bought a new stake in Las Vegas Sands during the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in Las Vegas Sands during the 3rd quarter worth approximately $26,000. UMB Bank n.a. increased its holdings in shares of Las Vegas Sands by 73.5% in the 4th quarter. UMB Bank n.a. now owns 583 shares of the casino operator’s stock worth $30,000 after buying an additional 247 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Las Vegas Sands in the 3rd quarter worth $34,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Las Vegas Sands by 63.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the casino operator’s stock worth $45,000 after buying an additional 342 shares during the last quarter. Institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Stock Performance

LVS opened at $42.81 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.73 and a debt-to-equity ratio of 3.35. The company has a market cap of $30.65 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.41 and a beta of 1.07. The company’s 50 day moving average is $44.93 and its 200 day moving average is $47.56. Las Vegas Sands Corp. has a 12-month low of $36.62 and a 12-month high of $56.61.

Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings data on Wednesday, January 29th. The casino operator reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). Las Vegas Sands had a return on equity of 45.82% and a net margin of 12.80%. On average, equities research analysts predict that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 2.34%. This is an increase from Las Vegas Sands’s previous quarterly dividend of $0.20. Las Vegas Sands’s payout ratio is currently 50.76%.

Analysts Set New Price Targets

A number of brokerages have recently commented on LVS. Jefferies Financial Group raised shares of Las Vegas Sands from a “hold” rating to a “buy” rating and increased their price target for the stock from $60.00 to $69.00 in a report on Friday, January 3rd. Macquarie increased their price target on shares of Las Vegas Sands from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Las Vegas Sands from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Citigroup increased their price target on shares of Las Vegas Sands from $64.50 to $67.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Morgan Stanley cut their price objective on shares of Las Vegas Sands from $51.00 to $49.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.42.

Las Vegas Sands Profile

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, 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 Marina Bay Sands in Singapore.