Polen Capital Management LLC Sells 15,105 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Key Points

• Polen Capital Management LLC reduced its stake in Las Vegas Sands Corp. by 9.8%, selling 15,105 shares in the first quarter, leaving it with 139,619 shares valued at approximately $5.39 million.
• Las Vegas Sands reported a 15% year-over-year revenue increase of $3.18 billion, alongside an earnings per share (EPS) of $0.79 for the quarter, exceeding estimates.
• The company's Board of Directors initiated a $2 billion share buyback program, indicating management's belief that the stock is undervalued.

Polen Capital Management LLC trimmed its position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,619 shares of the casino operator's stock after selling 15,105 shares during the period. Polen Capital Management LLC's holdings in Las Vegas Sands were worth $5,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Optiver Holding B.V. bought a new position in Las Vegas Sands during the fourth quarter valued at about $32,000. Center for Financial Planning Inc. bought a new position in Las Vegas Sands during the first quarter valued at about $42,000. Farther Finance Advisors LLC raised its holdings in Las Vegas Sands by 133.1% during the first quarter. Farther Finance Advisors LLC now owns 1,499 shares of the casino operator's stock valued at $59,000 after buying an additional 856 shares in the last quarter. GeoWealth Management LLC raised its holdings in Las Vegas Sands by 104.7% during the fourth quarter. GeoWealth Management LLC now owns 1,775 shares of the casino operator's stock valued at $91,000 after buying an additional 908 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in Las Vegas Sands during the first quarter valued at about $127,000. 39.16% of the stock is currently owned by hedge funds and other institutional investors.

Las Vegas Sands Price Performance

NYSE LVS traded down $0.31 during trading on Thursday, reaching $54.03. 1,706,463 shares of the company traded hands, compared to its average volume of 5,690,342. The company has a debt-to-equity ratio of 6.53, a quick ratio of 1.21 and a current ratio of 1.22. The stock's 50 day moving average price is $47.56 and its two-hundred day moving average price is $42.80. The company has a market cap of $37.09 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 2.04 and a beta of 1.08. Las Vegas Sands Corp. has a 1-year low of $30.18 and a 1-year high of $56.60.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The casino operator reported $0.79 EPS for the quarter, topping the consensus estimate of $0.53 by $0.26. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $2.83 billion. Las Vegas Sands had a return on equity of 55.37% and a net margin of 12.16%. Las Vegas Sands's revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. As a group, analysts anticipate that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands declared that its board has authorized a stock repurchase program on Wednesday, April 23rd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the casino operator to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Las Vegas Sands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Tuesday, August 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 5th. Las Vegas Sands's payout ratio is presently 50.51%.

Analysts Set New Price Targets

LVS has been the topic of a number of recent analyst reports. Barclays lifted their price objective on Las Vegas Sands from $57.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Stifel Nicolaus set a $57.00 price objective on Las Vegas Sands and gave the stock a "buy" rating in a research note on Thursday, April 24th. Wall Street Zen upgraded Las Vegas Sands from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. The Goldman Sachs Group initiated coverage on Las Vegas Sands in a research note on Monday, July 7th. They issued a "neutral" rating and a $52.00 price objective on the stock. Finally, Susquehanna dropped their price objective on Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $58.33.

About Las Vegas Sands

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.