Forsta AP Fonden Has $7.68 Million Position in Las Vegas Sands Corp. (NYSE:LVS)

Forsta AP Fonden grew its position in Las Vegas Sands Corp. (NYSE:LVS) by 99.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 148,500 shares of the casino operator’s stock after purchasing an additional 74,200 shares during the period. Forsta AP Fonden’s holdings in Las Vegas Sands were worth $7,677,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Clearbridge Investments LLC raised its holdings in Las Vegas Sands by 3.1% in the fourth quarter. Clearbridge Investments LLC now owns 629,182 shares of the casino operator’s stock worth $30,962,000 after purchasing an additional 19,200 shares during the period. Nordea Investment Management AB raised its holdings in shares of Las Vegas Sands by 27.6% during the first quarter. Nordea Investment Management AB now owns 891,796 shares of the casino operator’s stock worth $46,124,000 after acquiring an additional 193,110 shares during the period. DNB Asset Management AS raised its holdings in shares of Las Vegas Sands by 50.4% during the fourth quarter. DNB Asset Management AS now owns 672,905 shares of the casino operator’s stock worth $33,114,000 after acquiring an additional 225,351 shares during the period. ARGA Investment Management LP raised its holdings in shares of Las Vegas Sands by 6.4% during the first quarter. ARGA Investment Management LP now owns 3,308,987 shares of the casino operator’s stock worth $171,075,000 after acquiring an additional 198,413 shares during the period. Finally, AM Squared Ltd acquired a new stake in shares of Las Vegas Sands during the fourth quarter worth $3,076,000. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Las Vegas Sands from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Barclays decreased their price objective on shares of Las Vegas Sands from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, June 7th. Citigroup raised their target price on shares of Las Vegas Sands from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. cut their target price on shares of Las Vegas Sands from $59.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Las Vegas Sands from $62.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.79.

Las Vegas Sands Price Performance

Shares of Las Vegas Sands stock opened at $42.64 on Monday. Las Vegas Sands Corp. has a twelve month low of $41.17 and a twelve month high of $60.52. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 2.96. The company has a 50-day simple moving average of $44.52 and a two-hundred day simple moving average of $48.54. The stock has a market capitalization of $31.77 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 0.77 and a beta of 1.12.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, April 17th. The casino operator reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.13. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Las Vegas Sands had a net margin of 13.99% and a return on equity of 42.34%. The business’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 EPS. Analysts forecast that Las Vegas Sands Corp. will post 2.68 EPS for the current year.

Las Vegas Sands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Monday, May 6th. Las Vegas Sands’s payout ratio is presently 38.65%.

Las Vegas Sands Company 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.