Next Century Growth Investors LLC Invests $1.71 Million in Las Vegas Sands Corp. (LVS)
Next Century Growth Investors LLC bought a new stake in Las Vegas Sands Corp. (NYSE:LVS) during the 4th quarter, HoldingsChannel reports. The fund bought 24,559 shares of the casino operator’s stock, valued at approximately $1,706,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LVS. Bessemer Group Inc. boosted its holdings in Las Vegas Sands by 60.5% in the fourth quarter. Bessemer Group Inc. now owns 2,067 shares of the casino operator’s stock valued at $144,000 after purchasing an additional 779 shares during the last quarter. San Francisco Sentry Investment Group CA purchased a new stake in Las Vegas Sands in the third quarter valued at $181,000. Steward Partners Investment Advisory LLC purchased a new stake in Las Vegas Sands in the third quarter valued at $198,000. Chase Investment Counsel Corp purchased a new stake in Las Vegas Sands in the third quarter valued at $200,000. Finally, Independence Trust CO purchased a new stake in Las Vegas Sands in the fourth quarter valued at $205,000. 37.64% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on LVS shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $88.00 price target (up from $76.00) on shares of Las Vegas Sands in a report on Thursday, January 25th. Jefferies Group reaffirmed a “hold” rating on shares of Las Vegas Sands in a report on Thursday, January 25th. JPMorgan Chase & Co. upped their price target on shares of Las Vegas Sands from $63.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Morgan Stanley raised shares of Las Vegas Sands from an “equal weight” rating to an “overweight” rating and set a $65.00 price target on the stock in a report on Monday, November 6th. Finally, Zacks Investment Research raised shares of Las Vegas Sands from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Wednesday, January 17th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Las Vegas Sands presently has an average rating of “Buy” and a consensus target price of $70.54.
Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, January 24th. The casino operator reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.11. Las Vegas Sands had a net margin of 21.78% and a return on equity of 33.90%. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the company posted $0.62 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. research analysts predict that Las Vegas Sands Corp. will post 3.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 22nd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 21st. This is a positive change from Las Vegas Sands’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 4.20%. Las Vegas Sands’s dividend payout ratio (DPR) is currently 82.49%.
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About Las Vegas Sands
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.
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