Interval Partners LP Makes New $13.26 Million Investment in Las Vegas Sands Corp. $LVS

Interval Partners LP bought a new stake in Las Vegas Sands Corp. (NYSE:LVS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 246,551 shares of the casino operator’s stock, valued at approximately $13,262,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Ossiam raised its holdings in Las Vegas Sands by 34.5% during the third quarter. Ossiam now owns 37,774 shares of the casino operator’s stock worth $2,032,000 after purchasing an additional 9,696 shares in the last quarter. NorthRock Partners LLC acquired a new position in Las Vegas Sands during the 3rd quarter worth approximately $364,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Las Vegas Sands in the 3rd quarter valued at approximately $147,000. Prudential PLC raised its position in Las Vegas Sands by 413.3% in the third quarter. Prudential PLC now owns 38,301 shares of the casino operator’s stock worth $2,060,000 after acquiring an additional 30,840 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its position in shares of Las Vegas Sands by 95.1% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 4,713 shares of the casino operator’s stock worth $253,000 after purchasing an additional 2,297 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Las Vegas Sands Price Performance

Shares of NYSE LVS opened at $53.67 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 7.58. The stock has a market cap of $36.06 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 1.37 and a beta of 0.88. The company’s 50-day moving average price is $57.60 and its 200 day moving average price is $58.90. Las Vegas Sands Corp. has a 52 week low of $30.18 and a 52 week high of $70.45.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, January 28th. The casino operator reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.08. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.33 billion. Las Vegas Sands had a net margin of 12.50% and a return on equity of 91.40%. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 earnings per share. As a group, research analysts forecast that Las Vegas Sands Corp. will post 2.6 earnings per share for the current fiscal year.

Las Vegas Sands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Monday, February 9th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, February 9th. This is an increase from Las Vegas Sands’s previous quarterly dividend of $0.25. Las Vegas Sands’s dividend payout ratio is currently 51.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LVS shares. Citigroup increased their price target on shares of Las Vegas Sands from $75.50 to $76.75 and gave the company a “buy” rating in a report on Thursday, December 11th. HSBC boosted their price objective on shares of Las Vegas Sands from $67.50 to $73.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Mizuho increased their target price on shares of Las Vegas Sands from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Seaport Research Partners reduced their price target on shares of Las Vegas Sands from $75.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Finally, Stifel Nicolaus lowered their price target on Las Vegas Sands from $75.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.55.

Insiders Place Their Bets

In related news, CEO Robert G. Goldstein sold 1,198,650 shares of Las Vegas Sands stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $66.68, for a total transaction of $79,925,982.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Miriam Adelson sold 77,991 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $67.56, for a total transaction of $5,269,071.96. Following the completion of the transaction, the insider directly owned 23,333,441 shares of the company’s stock, valued at $1,576,407,273.96. The trade was a 0.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,062,502 shares of company stock worth $137,730,622. 1.20% of the stock is owned by insiders.

About Las Vegas Sands

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.