September 18, 2023 – Toroso Investments LLC has reported an increase of 29.8% in its holdings of Las Vegas Sands Corp. (NYSE:LVS) during the first quarter, according to its recent filing with the Securities and Exchange Commission (SEC). The investment firm now owns 19,210 shares of the casino operator’s stock, having purchased an additional 4,416 shares during this period. As of the end of the reporting period, Toroso Investments LLC’s holdings in Las Vegas Sands were valued at $1,104,000.
This increase in holdings reflects Toroso Investment LLC’s confidence in the future prospects of Las Vegas Sands Corp., a prominent player in the gaming and hospitality industry. The company operates numerous resorts and casinos worldwide and has seen steady growth over recent years.
In addition to strengthening its position in Las Vegas Sands Corp., Toroso Investments LLC has also benefitted from the company’s quarterly dividend. On August 16th, Las Vegas Sands announced a dividend payment to its shareholders. Investors who held shares as of August 8th received a dividend payout of $0.20 per share.
The ex-dividend date for this dividend was August 7th. With an annualized basis of $0.80 per share and a yield of 1.64%, Las Vegas Sands demonstrates its commitment to providing long-term value to its shareholders through regular dividends.This further highlights Toroso Investment LLC’s smart investment strategy.
Despite these positive developments, it is worth noting that Las Vegas Sands’ dividend payout ratio (DPR) is calculated at a staggering 1,142.86%. While this may seem high compared to industry standards, investors should take into consideration that it is influenced by specific factors unique to the company’s financials.
Toroso Investment LLC continues to monitor performance indicators such as dividend payouts and stock prices closely as it adapts its investment strategy accordingly. The firm’s increased holdings in Las Vegas Sands indicate a positive outlook for the casino operator’s future performance and underpin its belief in long-term growth prospects.
Toroso Investment LLC’s recent filing with the SEC showcases their commitment to research-informed investment decisions, making them a force to be reckoned with in the market. As financial markets evolve, key players such as Toroso Investment LLC are poised to make well-informed investment choices that align with their clients’ interests.
Las Vegas Sands Corp.
LVS
Buy
Updated on: 19/09/2023
Financial Health
Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Hedge Funds and Analysts Bullish on Las Vegas Sands Corp. Amid Positive Financial Performance
Las Vegas Sands Corp., a prominent casino operator listed on the New York Stock Exchange under the ticker symbol LVS, has seen several hedge funds take positions in the company. ZRC Wealth Management LLC, Ameritas Advisory Services LLC, Retirement Group LLC, Parkside Financial Bank & Trust, and Dark Forest Capital Management LP have all acquired shares of Las Vegas Sands at various times.
ZRC Wealth Management LLC made a new investment during the first quarter, purchasing shares valued at approximately $29,000. Similarly, Ameritas Advisory Services LLC also bought shares during the first quarter but at a slightly higher value of about $32,000. Retirement Group LLC entered the market during the fourth quarter with an investment worth around $31,000.
Parkside Financial Bank & Trust raised its stake in Las Vegas Sands by 123.7% during the first quarter. The bank now owns 671 shares of the company’s stock valued at $39,000 after acquiring an additional 371 shares. Meanwhile, Dark Forest Capital Management LP saw tremendous growth in its stake in Las Vegas Sands during the same period when its ownership soared by a staggering 83,900%. They currently hold 840 shares of the stock valued at $48,000.
It is interesting to note that institutional investors collectively own 39.16% of Las Vegas Sands’ stock. This level of ownership signifies strong investor confidence in the company’s future prospects and performance.
Several brokerages have also provided insights into Las Vegas Sands’ potential as an investment opportunity. Morgan Stanley has given it an “overweight” rating and lowered their price objective from $70 to $69 per share on September 12th this year. Stifel Nicolaus raised their price target from $73 to $78 while Jefferies Financial Group downgraded its rating from “buy” to “hold” and reduced their price target to $65 from $69 on June 8th this year. JPMorgan Chase & Co., on the other hand, boosted their price target from $71 to $72.
Bank of America recently reduced its price target on Las Vegas Sands from $66 to $65 and labeled the stock as “neutral.” In total, three analysts have assigned a hold rating, while twelve market experts believe it is a promising buy. Bloomberg states that the average rating for the stock is currently “Moderate Buy,” with an average price target of $70.73.
Las Vegas Sands started trading at a price of $48.74 on Monday. Its 50-day moving average sits at $55.41, while its 200-day moving average stands at $57.25. The company’s stock has experienced volatility with a 52-week low of $33.38 and a high of $65.58.
With a quick ratio of 2.75 and a current ratio of 2.76, Las Vegas Sands demonstrates good liquidity levels. It also has a debt-to-equity ratio of 3.57, indicating moderate leverage in its capital structure. The market capitalization for Las Vegas Sands is valued at around $37.26 billion, and it holds a relatively high price-to-earnings (P/E) ratio of 696.29 along with a PEG ratio of 5.24.
In terms of financial performance, Las Vegas Sands reported earnings per share (EPS) of $0.46 for the most recent quarter ended July 19th this year—surpassing analysts’ consensus estimate by $0.02 per share ($0.44). Despite posting positive EPS results, the company has only achieved a net margin of 0.75% and generated a return on equity (ROE) of 5.73%. Revenue for the quarter reached $2.54 billion compared to expectations of approximately $2.
11 billion—a robust increase of 143.3% year-over-year.
Equities research analysts predict that Las Vegas Sands Corp. will achieve an EPS of 1.87 for the current fiscal year.
A company offering exposure to the globally renowned casino and resort industry, Las Vegas Sands has consistently attracted attention from various investors and analysts alike due to its strong market position and potential for growth. With hedge funds taking positions in the company and recent positive financial performance, it is imperative to closely monitor its developments moving forward.
Discussion about this post