Long Pond Capital LP lifted its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 46.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,942,612 shares of the casino operator’s stock after acquiring an additional 614,694 shares during the period. Las Vegas Sands accounts for about 4.0% of Long Pond Capital LP’s investment portfolio, making the stock its 9th largest position. Long Pond Capital LP owned 0.25% of Las Vegas Sands worth $118,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LVS. Abundance Wealth Counselors acquired a new position in shares of Las Vegas Sands in the 1st quarter valued at $30,000. Harvest Fund Management Co. Ltd purchased a new stake in Las Vegas Sands during the fourth quarter valued at about $35,000. Sugarloaf Wealth Management LLC increased its stake in Las Vegas Sands by 52.6% during the first quarter. Sugarloaf Wealth Management LLC now owns 580 shares of the casino operator’s stock worth $35,000 after acquiring an additional 200 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Las Vegas Sands in the 1st quarter worth about $35,000. Finally, RMR Wealth Builders purchased a new position in shares of Las Vegas Sands in the 4th quarter worth about $36,000. 38.06% of the stock is currently owned by institutional investors and hedge funds.
LVS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on shares of Las Vegas Sands from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, March 15th. Zacks Investment Research upgraded shares of Las Vegas Sands from a “sell” rating to a “hold” rating and set a $63.00 target price on the stock in a report on Tuesday, March 30th. Jefferies Financial Group increased their price target on Las Vegas Sands from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, April 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on Las Vegas Sands from $64.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, March 11th. Finally, Credit Suisse Group upped their price target on Las Vegas Sands from $58.00 to $69.00 and gave the stock an “outperform” rating in a report on Thursday, April 22nd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $61.68.
Las Vegas Sands (NYSE:LVS) last posted its earnings results on Tuesday, April 20th. The casino operator reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. Las Vegas Sands had a negative return on equity of 47.40% and a negative net margin of 64.84%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business posted ($0.03) earnings per share. The firm’s quarterly revenue was down 15.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Las Vegas Sands Corp. will post -0.03 EPS for the current fiscal year.
Las Vegas Sands Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. 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.
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