Manning & Napier Advisors LLC Makes New Investment in Las Vegas Sands Corp. $LVS

Key Points

• Manning & Napier Advisors LLC acquired 83,566 shares of Las Vegas Sands worth approximately $3.875 million in the second quarter. Institutional investors collectively own 39.16% of the company.
• Analysts have recently lowered their price targets, with Las Vegas Sands receiving an average “Hold” rating and an average target of $61.88; targets range from $53 to $73 among the firms cited.
• Las Vegas Sands reported quarterly EPS of $0.59, below the $0.76 consensus estimate, while revenue of $3.15 billion also missed expectations. The company maintains a quarterly dividend of $0.30, equivalent to a 2.6% annualized yield.

Manning & Napier Advisors LLC acquired a new position in Las Vegas Sands Corp. (NYSE:LVS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 83,566 shares of the casino operator's stock, valued at approximately $3,875,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of LVS. International Assets Investment Management LLC acquired a new position in Las Vegas Sands during the fourth quarter worth about $26,000. DV Equities LLC acquired a new stake in Las Vegas Sands in the 4th quarter valued at about $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Las Vegas Sands in the 4th quarter valued at about $29,000. Wilmington Savings Fund Society FSB boosted its position in shares of Las Vegas Sands by 254.8% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator's stock valued at $36,000 after purchasing an additional 400 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Las Vegas Sands by 182.4% during the 3rd quarter. IFP Advisors Inc now owns 672 shares of the casino operator's stock valued at $36,000 after purchasing an additional 434 shares in the last quarter. Institutional investors own 39.16% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on LVS. Wall Street Zen lowered shares of Las Vegas Sands from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Wells Fargo & Company reduced their price objective 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. Susquehanna cut their target price on Las Vegas Sands from $64.00 to $63.00 and set a "positive" rating on the stock in a research report on Wednesday, July 22nd. Citigroup reduced their target price on Las Vegas Sands from $78.50 to $73.00 and set a "buy" rating for the company in a report on Friday, July 10th. Finally, Morgan Stanley decreased their price target on Las Vegas Sands from $68.00 to $61.00 and set an "equal weight" rating for the company in a research report on Monday, July 27th. Ten analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Las Vegas Sands has an average rating of "Hold" and an average price target of $61.88.

Las Vegas Sands Trading Down 0.1%

NYSE:LVS opened at $46.97 on Tuesday. The company has a debt-to-equity ratio of 15.27, a current ratio of 1.00 and a quick ratio of 0.99. Las Vegas Sands Corp. has a fifty-two week low of $44.21 and a fifty-two week high of $70.45. The stock's 50-day moving average is $46.64 and its two-hundred day moving average is $51.30. The stock has a market cap of $30.42 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85.

Las Vegas Sands (NYSE:LVS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). The company had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $3.31 billion. Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.Las Vegas Sands's revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. As a group, equities research analysts forecast that Las Vegas Sands Corp. will post 3.09 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, August 12th. Shareholders of record on Tuesday, August 4th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. Las Vegas Sands's dividend payout ratio is presently 46.69%.

Las Vegas Sands Company Profile

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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