State of Michigan Retirement System Sells 1,000 Shares of Las Vegas Sands Corp. $LVS

State of Michigan Retirement System trimmed its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 1.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 92,201 shares of the casino operator’s stock after selling 1,000 shares during the quarter. State of Michigan Retirement System’s holdings in Las Vegas Sands were worth $4,012,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LVS. MassMutual Private Wealth & Trust FSB lifted its position in shares of Las Vegas Sands by 37.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator’s stock valued at $38,000 after acquiring an additional 239 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Las Vegas Sands during the 2nd quarter valued at $43,000. Hilltop National Bank bought a new stake in shares of Las Vegas Sands during the 2nd quarter valued at $44,000. UMB Bank n.a. lifted its position in shares of Las Vegas Sands by 53.8% during the 2nd quarter. UMB Bank n.a. now owns 1,361 shares of the casino operator’s stock valued at $59,000 after acquiring an additional 476 shares during the period. Finally, Harbour Investments Inc. lifted its position in shares of 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 acquiring an additional 247 shares during the period. 39.16% of the stock is currently owned by institutional investors.

Las Vegas Sands Price Performance

Shares of LVS stock opened at $61.30 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 0.89 and a debt-to-equity ratio of 7.42. Las Vegas Sands Corp. has a twelve month low of $30.18 and a twelve month high of $61.83. The company has a market cap of $41.45 billion, a P/E ratio of 27.74, a P/E/G ratio of 1.62 and a beta of 1.01. The business has a fifty day simple moving average of $54.09 and a 200 day simple moving average of $48.37.

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

Las Vegas Sands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Tuesday, November 4th will be given a $0.25 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.6%. Las Vegas Sands’s dividend payout ratio (DPR) is currently 45.25%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LVS. Barclays upped their target price on Las Vegas Sands from $59.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Argus upped their price objective on Las Vegas Sands from $60.00 to $65.00 in a research report on Tuesday, September 23rd. Morgan Stanley upped their price objective on Las Vegas Sands from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Citigroup restated a “buy” rating on shares of Las Vegas Sands in a research report on Wednesday, July 9th. Finally, Mizuho upped their price objective on Las Vegas Sands from $56.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.13.

Insider Buying and Selling

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 700,000 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $58.88, for a total value of $41,216,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,600,000 shares of company stock valued at $94,502,000 in the last ninety days. 1.20% of the stock is currently owned by company insiders.

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.