Dynamic Technology Lab Increases Stake in Las Vegas Sands to $1.9 Million

Dynamic Technology Lab Private Ltd has significantly increased its investment in Las Vegas Sands Corp. (NYSE:LVS) by 117.3% during the third quarter of 2023, according to a report from HoldingsChannel.com. The investment firm now holds 35,299 shares of the global casino operator, valued at approximately $1.9 million as of its latest filing with the Securities and Exchange Commission.

This acquisition involved purchasing an additional 19,057 shares during the quarter. Other institutional investors have also shown interest in Las Vegas Sands recently. Total Investment Management Inc. established a new stake in the company worth around $25,000 in the second quarter, while Westside Investment Management Inc. increased its holdings by 48%, now owning 512 shares valued at $28,000 after acquiring 166 additional shares.

Smartleaf Asset Management LLC made a remarkable move by boosting its stake by 549.5%, now possessing 630 shares worth $35,000. Meanwhile, MAI Capital Management raised its holdings by 78.4%, bringing its total to 710 shares valued at $38,000. Overall, institutional investors and hedge funds own approximately 39.16% of Las Vegas Sands stock.

Current Stock Performance and Dividend Announcement

As of the latest trading session, shares of Las Vegas Sands opened at $53.69, reflecting a decline of 2.6%. The company maintains a market capitalization of $36.07 billion and has a debt-to-equity ratio of 7.58. Financial metrics indicate a price-to-earnings ratio of 22.94 and a PEG ratio of 1.37, with a 50-day moving average of $58.72 and a 200-day moving average of $58.95.

Recently, Las Vegas Sands announced a quarterly dividend of $0.30 per share, up from the previous dividend of $0.25. This dividend was paid on February 18, 2024, to stockholders on record as of February 9, 2024. The annualized dividend now stands at $1.20, yielding 2.2% with a payout ratio of 51.28%.

Analyst Ratings and Insider Transactions

Recent analyst reports reflect a generally positive outlook for Las Vegas Sands. Wall Street Zen downgraded its rating from “strong-buy” to “buy.” In contrast, Citigroup raised its target price from $75.50 to $76.75, maintaining a “buy” rating. Deutsche Bank Aktiengesellschaft also increased its target from $76.00 to $77.00, while Stifel Nicolaus adjusted its target down from $75.00 to $72.00, still designating it as a “buy.”

JPMorgan Chase & Co. raised its target price from $70.00 to $71.00 and assigned an “overweight” rating. Currently, 12 investment analysts have rated the stock as a “buy,” while six have issued a “hold” recommendation. According to MarketBeat.com, Las Vegas Sands holds a consensus rating of “Moderate Buy” with an average price target of $68.55.

In related developments, CEO Robert G. Goldstein sold 1,198,650 shares on December 17, 2023, for a total value of approximately $79.93 million. Major shareholder Miriam Adelson also sold 77,991 shares on December 16, 2023, valued at about $5.27 million. Following these transactions, insiders have sold 2,477,991 shares worth approximately $165.32 million in the past 90 days, with insiders holding 1.20% of the stock.

Las Vegas Sands Corp. is a leading global developer and operator of integrated resorts. The company focuses on large-scale properties that combine casino gaming with hotels, convention facilities, retail, dining, and entertainment options. Notable properties include The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau.

For further insights into institutional holdings and insider trades related to Las Vegas Sands, visit HoldingsChannel.com.