Meeder Asset Management Inc. cut its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 58.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,413 shares of the casino operator’s stock after selling 1,991 shares during the period. Meeder Asset Management Inc.’s holdings in Las Vegas Sands were worth $74,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Western Wealth Management LLC acquired a new stake in Las Vegas Sands during the second quarter worth approximately $576,000. Bessemer Group Inc. lifted its position in Las Vegas Sands by 117.0% during the second quarter. Bessemer Group Inc. now owns 1,944 shares of the casino operator’s stock worth $103,000 after acquiring an additional 1,048 shares during the last quarter. Ironsides Asset Advisors LLC bought a new position in shares of Las Vegas Sands during the second quarter worth approximately $241,000. Daiwa Securities Group Inc. increased its holdings in shares of Las Vegas Sands by 4.9% during the second quarter. Daiwa Securities Group Inc. now owns 19,096 shares of the casino operator’s stock worth $1,006,000 after purchasing an additional 893 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Las Vegas Sands by 0.4% during the second quarter. Nomura Asset Management Co. Ltd. now owns 92,777 shares of the casino operator’s stock worth $4,889,000 after purchasing an additional 356 shares during the period. Hedge funds and other institutional investors own 36.81% of the company’s stock.
LVS has been the topic of several recent research reports. Morgan Stanley lowered their target price on shares of Las Vegas Sands from $58.00 to $53.00 and set an “equal weight” rating on the stock in a report on Thursday, July 22nd. Wells Fargo & Company initiated coverage on shares of Las Vegas Sands in a report on Tuesday. They set an “equal weight” rating on the stock. TheStreet cut shares of Las Vegas Sands from a “c-” rating to a “d+” rating in a research note on Friday, July 23rd. Stifel Nicolaus decreased their price objective on shares of Las Vegas Sands from $77.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $73.00 price objective on shares of Las Vegas Sands in a research note on Thursday, July 22nd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Las Vegas Sands has an average rating of “Hold” and a consensus target price of $61.13.
Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Tuesday, July 20th. The casino operator reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.39 billion. Las Vegas Sands had a negative return on equity of 35.02% and a negative net margin of 32.53%. Las Vegas Sands’s revenue for the quarter was up 1096.9% on a year-over-year basis. During the same quarter last year, the firm posted ($1.05) EPS. Sell-side analysts forecast that Las Vegas Sands Corp. will post -0.75 EPS for the current year.
Las Vegas Sands Profile
Las Vegas Sands Corp. engages in the development of destination properties. The firm operates through the following geographic segments: Macao, Singapore and United States. The Macao segment handles the operations of The Venetian Macao, Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao and Sands Macao.
Featured Article: What is the Dividend Aristocrat Index?
Want to see what other hedge funds are holding LVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Las Vegas Sands Corp. (NYSE:LVS).
Receive News & Ratings for Las Vegas Sands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Las Vegas Sands and related companies with MarketBeat.com's FREE daily email newsletter.