Jefferies Financial Group Inc. Acquires New Shares in Las Vegas Sands Corp. $LVS

Jefferies Financial Group Inc. acquired a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,464 shares of the casino operator’s stock, valued at approximately $849,000.

Other hedge funds have also recently modified their holdings of the company. Bamco Inc. NY bought a new position in shares of Las Vegas Sands during the second quarter worth $174,796,000. The Manufacturers Life Insurance Company purchased a new position in Las Vegas Sands during the second quarter valued at $107,407,000. Legal & General Group Plc purchased a new position in Las Vegas Sands during the second quarter valued at $83,696,000. Amundi increased its holdings in Las Vegas Sands by 157.2% in the 1st quarter. Amundi now owns 2,864,789 shares of the casino operator’s stock valued at $154,355,000 after acquiring an additional 1,750,758 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Las Vegas Sands in the 2nd quarter valued at $67,068,000. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Price Performance

Las Vegas Sands stock traded up $1.02 during mid-day trading on Friday, reaching $40.35. 4,506,664 shares of the company’s stock traded hands, compared to its average volume of 6,839,518. Las Vegas Sands Corp. has a 12-month low of $35.03 and a 12-month high of $70.45. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 15.27. The stock has a 50 day moving average of $38.86 and a two-hundred day moving average of $48.05. The company has a market cap of $25.30 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 0.93 and a beta of 0.78.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, October 21st. The casino operator reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.14). Las Vegas Sands had a return on equity of 177.43% and a net margin of 11.85%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The business’s quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts forecast that Las Vegas Sands Corp. will post 2.81 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 10th. Stockholders of record on Monday, November 2nd were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, November 2nd. Las Vegas Sands’s dividend payout ratio is currently 49.18%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wolfe Research began coverage on shares of Las Vegas Sands in a research note on Wednesday, September 2nd. They issued a “peer perform” rating on the stock. Seaport Research Partners cut their price objective on Las Vegas Sands from $69.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Jefferies Financial Group reduced their target price on Las Vegas Sands from $40.00 to $37.00 and set a “hold” rating on the stock in a report on Thursday, October 22nd. Mizuho decreased their target price on Las Vegas Sands from $61.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, October 22nd. Finally, HSBC dropped their price target on Las Vegas Sands from $78.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $53.28.

Las Vegas Sands Company Profile

Las Vegas Sands is a global developer and operator of integrated resorts, combining casino gaming with hotels, dining, shopping, entertainment and convention facilities. The company’s properties include Marina Bay Sands in Singapore and several resorts in Macau, such as The Venetian Macao, The Londoner Macao and The Parisian Macao. Founded by Sheldon Adelson, the company helped popularize the integrated-resort model with The Venetian Resort in Las Vegas, which opened in 1999. Las Vegas Sands sold its Las Vegas properties in 2022 and now focuses its resort operations on Macau and Singapore.