Adage Capital Partners GP L.L.C. Lowers Position in Las Vegas Sands Corp. (NYSE:LVS)

Adage Capital Partners GP L.L.C. decreased its position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 2.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 325,100 shares of the casino operator's stock after selling 8,100 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Las Vegas Sands were worth $16,697,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in Las Vegas Sands in the third quarter worth $26,000. Bank of Jackson Hole Trust bought a new stake in shares of Las Vegas Sands during the 4th quarter valued at $26,000. UMB Bank n.a. grew its position in shares of Las Vegas Sands by 73.5% in the 4th quarter. UMB Bank n.a. now owns 583 shares of the casino operator's stock worth $30,000 after buying an additional 247 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of Las Vegas Sands in the 4th quarter worth about $36,000. Finally, Smartleaf Asset Management LLC lifted its position in Las Vegas Sands by 63.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the casino operator's stock valued at $45,000 after acquiring an additional 342 shares during the period. Institutional investors own 39.16% of the company's stock.

Las Vegas Sands Price Performance

Shares of NYSE:LVS opened at $35.87 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.74 and a debt-to-equity ratio of 3.35. The stock has a market capitalization of $25.35 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 1.41 and a beta of 0.99. The firm's 50 day moving average price is $39.27 and its 200-day moving average price is $45.86. Las Vegas Sands Corp. has a twelve month low of $30.18 and a twelve month high of $56.61.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The casino operator reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). The business had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.95 billion. Las Vegas Sands had a return on equity of 45.82% and a net margin of 12.80%. During the same quarter in the prior year, the business earned $0.78 EPS. Equities research analysts expect that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands declared that its board has approved a stock repurchase program on Wednesday, April 23rd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the casino operator to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Las Vegas Sands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Tuesday, May 6th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.79%. The ex-dividend date is Tuesday, May 6th. Las Vegas Sands's dividend payout ratio is presently 55.56%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LVS. Citigroup raised their target price on shares of Las Vegas Sands from $64.50 to $67.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Stifel Nicolaus set a $57.00 price target on shares of Las Vegas Sands and gave the company a "buy" rating in a research report on Thursday. Wells Fargo & Company cut their target price on Las Vegas Sands from $60.00 to $59.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft decreased their price target on Las Vegas Sands from $66.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Finally, Morgan Stanley dropped their price objective on Las Vegas Sands from $47.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $56.75.

Las Vegas Sands 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.