Harvest Fund Management Co. Ltd Decreases Stake in Las Vegas Sands Corp. (NYSE:LVS)

Harvest Fund Management Co. Ltd lowered its position in Las Vegas Sands Corp. (NYSE:LVS) by 21.8% in the second quarter, Holdings Channel reports. The fund owned 4,894 shares of the casino operator’s stock after selling 1,364 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Las Vegas Sands were worth $284,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Las Vegas Sands by 0.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,712 shares of the casino operator’s stock worth $3,201,000 after buying an additional 169 shares during the last quarter. Westshore Wealth LLC lifted its position in shares of Las Vegas Sands by 3.6% during the 1st quarter. Westshore Wealth LLC now owns 4,904 shares of the casino operator’s stock worth $282,000 after buying an additional 172 shares during the last quarter. Securian Asset Management Inc. lifted its position in shares of Las Vegas Sands by 0.7% during the 1st quarter. Securian Asset Management Inc. now owns 27,087 shares of the casino operator’s stock worth $1,556,000 after buying an additional 176 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Las Vegas Sands by 1.9% during the 1st quarter. MML Investors Services LLC now owns 9,767 shares of the casino operator’s stock worth $561,000 after buying an additional 185 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Las Vegas Sands by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 21,400 shares of the casino operator’s stock worth $1,229,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LVS shares. Stifel Nicolaus boosted their price objective on shares of Las Vegas Sands from $73.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. JPMorgan Chase & Co. lifted their target price on shares of Las Vegas Sands from $71.00 to $72.00 in a report on Monday, June 26th. StockNews.com assumed coverage on shares of Las Vegas Sands in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Argus cut their target price on shares of Las Vegas Sands from $72.00 to $68.00 in a report on Friday, July 21st. Finally, Wells Fargo & Company cut their target price on shares of Las Vegas Sands from $71.00 to $69.00 and set an “overweight” rating on the stock in a report on Thursday, July 20th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Las Vegas Sands has a consensus rating of “Moderate Buy” and an average target price of $70.73.

Las Vegas Sands Price Performance

NYSE:LVS opened at $48.93 on Friday. The firm has a market cap of $37.40 billion, a price-to-earnings ratio of 699.00, a price-to-earnings-growth ratio of 5.24 and a beta of 1.19. The company has a current ratio of 2.76, a quick ratio of 2.75 and a debt-to-equity ratio of 3.57. The company’s 50-day moving average is $55.67 and its two-hundred day moving average is $57.37. Las Vegas Sands Corp. has a 12-month low of $33.38 and a 12-month high of $65.58.

Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, July 19th. The casino operator reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.41 billion. Las Vegas Sands had a net margin of 0.75% and a return on equity of 5.73%. The firm’s quarterly revenue was up 143.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) EPS. Research analysts expect that Las Vegas Sands Corp. will post 1.87 EPS for the current year.

Las Vegas Sands Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Tuesday, August 8th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.63%. Las Vegas Sands’s payout ratio is currently 1,142.86%.

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.