The Manufacturers Life Insurance Company Sells 276,521 Shares of Las Vegas Sands Corp. $LVS

The Manufacturers Life Insurance Company cut its position in Las Vegas Sands Corp. (NYSE:LVS) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,059,577 shares of the casino operator’s stock after selling 276,521 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.74% of Las Vegas Sands worth $220,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of the business. Horizon Kinetics Asset Management LLC raised its holdings in shares of Las Vegas Sands by 0.3% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 61,993 shares of the casino operator’s stock valued at $2,697,000 after buying an additional 213 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Las Vegas Sands by 37.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator’s stock worth $38,000 after buying an additional 239 shares during the last quarter. Harbour Investments Inc. increased its position in Las Vegas Sands by 21.4% during the 2nd quarter. Harbour Investments Inc. now owns 1,401 shares of the casino operator’s stock valued at $61,000 after purchasing an additional 247 shares during the period. Wealthfront Advisers LLC boosted its position in Las Vegas Sands by 1.5% during the 2nd quarter. Wealthfront Advisers LLC now owns 18,189 shares of the casino operator’s stock valued at $791,000 after acquiring an additional 273 shares in the last quarter. Finally, Center for Financial Planning Inc. boosted its position in shares of Las Vegas Sands by 31.3% during the second quarter. Center for Financial Planning Inc. now owns 1,440 shares of the casino operator’s stock valued at $63,000 after purchasing an additional 343 shares in the last quarter. Institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Trading Up 0.1%

Shares of NYSE:LVS opened at $66.51 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 7.42. Las Vegas Sands Corp. has a 52-week low of $30.18 and a 52-week high of $70.45. The business has a 50-day moving average price of $60.13 and a 200-day moving average price of $53.27. The stock has a market cap of $44.97 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 1.80 and a beta of 0.97.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, October 22nd. The casino operator reported $0.78 EPS for the quarter, topping the consensus estimate of $0.62 by $0.16. Las Vegas Sands had a return on equity of 73.14% and a net margin of 12.69%.The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the company earned $0.44 earnings per share. Las Vegas Sands’s revenue for the quarter was up 24.2% compared to the same quarter last year. Equities analysts predict that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Shareholders of record on Tuesday, November 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. Las Vegas Sands’s payout ratio is currently 45.25%.

Insider Buying and Selling at Las Vegas Sands

In related news, CFO Randy Hyzak sold 57,545 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $66.45, for a total value of $3,823,865.25. Following the transaction, the chief financial officer owned 53,499 shares of the company’s stock, valued at $3,555,008.55. This represents a 51.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Patrick Dumont sold 135,603 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $67.96, for a total value of $9,215,579.88. Following the completion of the transaction, the chief operating officer owned 446,608 shares in the company, valued at approximately $30,351,479.68. The trade was a 23.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 2,704,062 shares of company stock valued at $168,024,845. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on LVS. Morgan Stanley upped their price objective on shares of Las Vegas Sands from $59.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Wells Fargo & Company initiated coverage on Las Vegas Sands in a research report on Tuesday, November 18th. They set an “equal weight” rating and a $66.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of Las Vegas Sands from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Susquehanna boosted their price target on Las Vegas Sands from $62.00 to $63.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Finally, Seaport Global Securities increased their price target on Las Vegas Sands from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.80.

Las Vegas Sands 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.