Las Vegas Sands Corp. $LVS Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd cut its stake in Las Vegas Sands by 52.9% in the first quarter, selling 115,766 shares and leaving it with 103,008 shares worth about $5.3 million.
• Other institutional investors were mixed on LVS, with some increasing positions sharply while overall institutional ownership stood at 39.16% of the company.
• Analysts remain broadly positive: Las Vegas Sands has a Moderate Buy consensus, with 11 Buy ratings and 7 Hold ratings, and an average price target of $65.31.

Mediolanum International Funds Ltd trimmed its holdings in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 52.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 103,008 shares of the casino operator's stock after selling 115,766 shares during the period. Mediolanum International Funds Ltd's holdings in Las Vegas Sands were worth $5,317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swiss Life Asset Management Ltd boosted its stake in shares of Las Vegas Sands by 116.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 148,196 shares of the casino operator's stock valued at $9,646,000 after purchasing an additional 79,641 shares during the period. Crossmark Global Holdings Inc. grew its holdings in Las Vegas Sands by 411.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 44,208 shares of the casino operator's stock valued at $2,877,000 after purchasing an additional 35,566 shares in the last quarter. Wealthfront Advisers LLC increased its stake in Las Vegas Sands by 40.6% during the 4th quarter. Wealthfront Advisers LLC now owns 67,446 shares of the casino operator's stock worth $4,390,000 after buying an additional 19,488 shares during the period. Perpetual Ltd purchased a new stake in Las Vegas Sands during the 4th quarter worth $2,051,000. Finally, SG Americas Securities LLC lifted its holdings in Las Vegas Sands by 2,655.3% in the 4th quarter. SG Americas Securities LLC now owns 878,022 shares of the casino operator's stock worth $57,150,000 after buying an additional 846,155 shares in the last quarter. Institutional investors and hedge funds own 39.16% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LVS. Wells Fargo & Company lowered their target price on Las Vegas Sands from $65.00 to $53.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group boosted their price target on Las Vegas Sands from $61.00 to $63.00 and gave the stock a "hold" rating in a research note on Thursday, April 23rd. Barclays reduced their price target on Las Vegas Sands from $65.00 to $63.00 and set an "overweight" rating for the company in a report on Thursday, July 9th. Morgan Stanley raised their price objective on Las Vegas Sands from $67.00 to $69.00 and gave the company an "equal weight" rating in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group dropped their price objective on Las Vegas Sands from $73.00 to $63.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Las Vegas Sands currently has a consensus rating of "Moderate Buy" and an average price target of $65.31.

Las Vegas Sands Price Performance

Shares of LVS stock opened at $45.80 on Tuesday. The firm has a fifty day moving average of $48.68 and a two-hundred day moving average of $53.68. The firm has a market cap of $30.35 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.03 and a beta of 0.83. Las Vegas Sands Corp. has a 1-year low of $44.22 and a 1-year high of $70.45. The company has a debt-to-equity ratio of 8.64, a current ratio of 0.92 and a quick ratio of 0.91.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The casino operator reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.15. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.32 billion. Las Vegas Sands had a net margin of 13.41% and a return on equity of 118.27%. The company's revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 EPS. As a group, research analysts anticipate that Las Vegas Sands Corp. will post 3.37 earnings per share for the current fiscal year.

About Las Vegas Sands

Las Vegas Sands NYSE: LVS is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company's operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company's portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.

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