Dynamic Technology Lab Private Ltd has significantly increased its stake in Las Vegas Sands Corp. (NYSE: LVS), raising its ownership by an impressive 117.3% during the third quarter of 2023. According to filings with the Securities and Exchange Commission, the fund now holds 35,299 shares of the casino operator’s stock, valued at approximately $1.90 million.
Several other large investors have also made moves with Las Vegas Sands shares recently. Notably, Total Investment Management Inc. established a new position during the second quarter, investing around $25,000. Meanwhile, Westside Investment Management Inc. increased its holdings by 48.0% in the third quarter, now owning 512 shares valued at $28,000 after acquiring an additional 166 shares. Other investors like Root Financial Partners LLC and Smartleaf Asset Management LLC also reported new positions, with Smartleaf increasing its stake by a staggering 549.5%, now holding 630 shares valued at $35,000.
Market Performance and Dividend Announcement
On the market, shares of Las Vegas Sands opened at $53.69, reflecting a 2.6% decline. The company boasts a market capitalization of $36.07 billion and maintains a price-to-earnings ratio of 22.94. Its 50-day moving average stands at $58.72, while the 200-day moving average is $58.95. Las Vegas Sands has seen a significant price range over the past year, with a low of $30.18 and a high of $70.45.
In a positive development for shareholders, Las Vegas Sands recently announced an increase in its quarterly dividend, which was paid on February 18, 2024. Shareholders of record received a dividend of $0.30 per share, up from the previous $0.25. This adjustment reflects an annualized dividend of $1.20 and a dividend yield of 2.2%, with a payout ratio currently at 51.28%.
Analyst Ratings and Insider Activity
Wall Street analysts continue to follow Las Vegas Sands closely, with recent reports showing a mix of upgraded and downgraded ratings. Wall Street Zen lowered its rating from “strong-buy” to “buy,” while Citigroup raised its price objective from $75.50 to $76.75, maintaining a “buy” rating. Similarly, Deutsche Bank increased its target price from $76.00 to $77.00, also rating the stock as “buy.”
As for insider transactions, CEO Robert G. Goldstein sold 1,198,650 shares on December 17, 2023, for approximately $79.93 million. In a separate transaction, major shareholder Miriam Adelson sold 77,991 shares on December 16, 2023, totaling about $5.27 million. Collectively, insiders have sold 2,477,991 shares worth approximately $165.32 million in the last 90 days, with insiders now holding 1.20% of company stock.
Las Vegas Sands continues to be a key player in the global integrated resort market, focusing on large-scale properties that combine gaming with hospitality, dining, and entertainment. Its portfolio includes notable destinations such as The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, alongside multiple integrated resorts in Macau.
