Suvretta Capital Management LLC Invests $24.37 Million in Las Vegas Sands Corp. (NYSE:LVS)

Suvretta Capital Management LLC purchased a new stake in shares of Las Vegas Sands Corp. (NYSE:LVS) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 484,110 shares of the casino operator’s stock, valued at approximately $24,370,000.

A number of other institutional investors also recently bought and sold shares of the stock. CVA Family Office LLC grew its holdings in shares of Las Vegas Sands by 118.8% during the 3rd quarter. CVA Family Office LLC now owns 560 shares of the casino operator’s stock worth $28,000 after acquiring an additional 304 shares during the period. Bank & Trust Co bought a new stake in shares of Las Vegas Sands during the second quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in Las Vegas Sands in the third quarter worth $34,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Las Vegas Sands by 93.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 906 shares of the casino operator’s stock worth $40,000 after purchasing an additional 437 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Las Vegas Sands by 40.1% during the third quarter. GAMMA Investing LLC now owns 849 shares of the casino operator’s stock valued at $43,000 after buying an additional 243 shares during the period. 39.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Robert G. Goldstein sold 24,324 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $52.00, for a total value of $1,264,848.00. Following the transaction, the chief executive officer now directly owns 60,187 shares in the company, valued at $3,129,724. This trade represents a 28.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.91% of the stock is currently owned by insiders.

Las Vegas Sands Stock Up 1.0 %

LVS stock opened at $51.42 on Friday. The company has a debt-to-equity ratio of 3.09, a current ratio of 0.90 and a quick ratio of 0.89. Las Vegas Sands Corp. has a 1-year low of $36.62 and a 1-year high of $55.65. The stock has a market capitalization of $37.28 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.36 and a beta of 1.11. The business has a fifty day moving average price of $50.54 and a 200-day moving average price of $44.99.

Las Vegas Sands (NYSE:LVS) last issued its earnings results on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). Las Vegas Sands had a return on equity of 44.26% and a net margin of 13.29%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the firm posted $0.55 EPS. Las Vegas Sands’s quarterly revenue was down 4.0% compared to the same quarter last year. Equities analysts forecast that Las Vegas Sands Corp. will post 2.33 earnings per share for the current fiscal year.

Las Vegas Sands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Tuesday, November 5th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, November 5th. Las Vegas Sands’s dividend payout ratio is currently 39.60%.

Analyst Ratings Changes

A number of analysts have recently weighed in on LVS shares. Argus downgraded shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Stifel Nicolaus raised their target price on shares of Las Vegas Sands from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on Las Vegas Sands from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Susquehanna upped their price target on Las Vegas Sands from $51.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price objective on Las Vegas Sands from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

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.