The Manufacturers Life Insurance Company Sells 316,313 Shares of Las Vegas Sands Corp. $LVS

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Las Vegas Sands Corp. by 5.6%, selling 316,313 shares, which now leaves them with 5,336,098 shares worth approximately $206 million.
• Las Vegas Sands reported strong earnings for the quarter, with an EPS of $0.79, exceeding analyst estimates by $0.26, and a 15% increase in revenue year-over-year.
• Following positive performance, several analysts have raised their price targets on Las Vegas Sands, with an average target now at $59.00 and multiple ratings upgraded to "buy" or "outperform."

The Manufacturers Life Insurance Company reduced its holdings in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,336,098 shares of the casino operator's stock after selling 316,313 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.76% of Las Vegas Sands worth $206,133,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. bought a new position in Las Vegas Sands in the 1st quarter worth approximately $42,000. Farther Finance Advisors LLC increased its position in Las Vegas Sands by 133.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,499 shares of the casino operator's stock worth $59,000 after buying an additional 856 shares during the period. Neo Ivy Capital Management bought a new position in Las Vegas Sands in the 1st quarter worth approximately $127,000. Golden State Wealth Management LLC increased its position in Las Vegas Sands by 103.2% in the 1st quarter. Golden State Wealth Management LLC now owns 3,587 shares of the casino operator's stock worth $139,000 after buying an additional 1,822 shares during the period. Finally, AlphaQuest LLC bought a new position in Las Vegas Sands in the 1st quarter worth approximately $153,000. 39.16% of the stock is owned by institutional investors.

Las Vegas Sands Price Performance

LVS stock traded down $0.47 during trading on Thursday, hitting $54.90. The company had a trading volume of 1,569,027 shares, compared to its average volume of 5,558,750. The company has a fifty day moving average price of $51.66 and a two-hundred day moving average price of $44.03. The company has a current ratio of 1.22, a quick ratio of 1.21 and a debt-to-equity ratio of 6.53. The company has a market cap of $37.69 billion, a P/E ratio of 27.76, a P/E/G ratio of 2.18 and a beta of 1.04. Las Vegas Sands Corp. has a fifty-two week low of $30.18 and a fifty-two week high of $58.05.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.26. The firm had revenue of $3.18 billion during 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%.The business's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. Equities research analysts expect that Las Vegas Sands Corp. will post 2.6 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Shareholders of record on Tuesday, August 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, August 5th. Las Vegas Sands's payout ratio is presently 50.51%.

Wall Street Analyst Weigh In

LVS has been the topic of several recent research reports. Susquehanna decreased their price objective on Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating on the stock in a report on Monday, July 21st. Mizuho lifted their price objective on Las Vegas Sands from $47.00 to $56.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Citigroup reissued a "buy" rating on shares of Las Vegas Sands in a report on Wednesday, July 9th. UBS Group lifted their price objective on Las Vegas Sands from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Finally, The Goldman Sachs Group initiated coverage on Las Vegas Sands in a report on Monday, July 7th. They set a "neutral" rating and a $52.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Las Vegas Sands currently has an average rating of "Moderate Buy" and a consensus price target of $59.00.

Las Vegas Sands Company Profile

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.