The Manufacturers Life Insurance Company Sells 712,359 Shares of Las Vegas Sands Corp. $LVS

Key Points

• The Manufacturers Life Insurance Company cut its Las Vegas Sands stake by 23.5%, selling 712,359 shares during the second quarter and retaining 2.33 million shares valued at approximately $107.4 million.
• Las Vegas Sands reported quarterly EPS of $0.59, missing the $0.76 analyst consensus, while revenue of $3.15 billion also fell short of estimates and declined 0.7% year over year.
• The company pays a quarterly dividend of $0.30 per share, equivalent to a $1.20 annualized payout and a 2.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $61.88 versus the stock’s $42.88 opening price.

The Manufacturers Life Insurance Company lowered its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 23.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,325,334 shares of the casino operator's stock after selling 712,359 shares during the quarter. The Manufacturers Life Insurance Company owned 0.36% of Las Vegas Sands worth $107,407,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. SG Americas Securities LLC increased its position in shares of Las Vegas Sands by 74.2% during the first quarter. SG Americas Securities LLC now owns 1,529,236 shares of the casino operator's stock worth $82,395,000 after acquiring an additional 651,214 shares in the last quarter. Fieldview Capital Management LLC acquired a new stake in shares of Las Vegas Sands during the fourth quarter worth $4,561,000. CenterBook Partners LP bought a new stake in Las Vegas Sands in the 4th quarter valued at $4,588,000. Westpac Banking Corp lifted its position in Las Vegas Sands by 6,889.2% in the 4th quarter. Westpac Banking Corp now owns 51,021 shares of the casino operator's stock valued at $3,321,000 after acquiring an additional 50,291 shares in the last quarter. Finally, DJE Kapital AG acquired a new position in Las Vegas Sands in the 4th quarter worth $3,268,000. Institutional investors own 39.16% of the company's stock.

Las Vegas Sands Stock Up 0.6%

LVS stock opened at $42.88 on Friday. The firm has a market capitalization of $27.77 billion, a PE ratio of 16.68, a PEG ratio of 1.05 and a beta of 0.83. The business's 50 day simple moving average is $45.79 and its 200 day simple moving average is $50.06. Las Vegas Sands Corp. has a 1-year low of $42.11 and a 1-year high of $70.45. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27.

Las Vegas Sands (NYSE:LVS - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $3.31 billion. Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.The business's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 EPS. As a group, research analysts anticipate that Las Vegas Sands Corp. will post 3.09 EPS for the current year.

Las Vegas Sands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Tuesday, August 4th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 annualized dividend and a yield of 2.8%. Las Vegas Sands's dividend payout ratio (DPR) is 46.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LVS. Susquehanna cut their price target on Las Vegas Sands from $64.00 to $63.00 and set a "positive" rating on the stock in a report on Wednesday, July 22nd. JPMorgan Chase & Co. decreased their price objective on Las Vegas Sands from $64.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. The Goldman Sachs Group dropped their target price on Las Vegas Sands from $63.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Wells Fargo & Company cut their target price on Las Vegas Sands from $65.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 14th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Las Vegas Sands in a report on Friday, August 21st. Ten research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $61.88.

Las Vegas Sands Company Profile

Las Vegas Sands Corp. NYSE: LVS develops and operates integrated resorts that combine casino gaming with hotels, convention and meeting facilities, dining, retail, entertainment and other leisure offerings. The company primarily serves international tourism, business travel and premium gaming markets.

Las Vegas Sands' principal properties are Marina Bay Sands in Singapore and a portfolio of integrated resorts in Macao, including The Venetian Macao, The Londoner Macao, The Parisian Macao and Four Seasons Hotel Macao.

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