Meeder Asset Management Inc. Acquires 44,223 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Meeder Asset Management Inc. lifted its stake in Las Vegas Sands Corp. (NYSE:LVS) by 97.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,743 shares of the casino operator’s stock after acquiring an additional 44,223 shares during the period. Meeder Asset Management Inc.’s holdings in Las Vegas Sands were worth $4,518,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. CVA Family Office LLC boosted its holdings in Las Vegas Sands by 118.8% in the 3rd quarter. CVA Family Office LLC now owns 560 shares of the casino operator’s stock valued at $28,000 after purchasing an additional 304 shares during the period. Bank & Trust Co acquired a new position in shares of Las Vegas Sands during the second quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Las Vegas Sands in the third quarter valued at about $34,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Las Vegas Sands by 93.2% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 906 shares of the casino operator’s stock worth $40,000 after buying an additional 437 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Las Vegas Sands by 40.1% during the third quarter. GAMMA Investing LLC now owns 849 shares of the casino operator’s stock valued at $43,000 after acquiring an additional 243 shares during the period. Institutional investors and hedge funds own 39.16% of the company’s stock.

Las Vegas Sands Stock Up 2.5 %

Las Vegas Sands stock opened at $49.14 on Tuesday. The firm has a market capitalization of $35.63 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.26 and a beta of 1.11. The company’s 50 day simple moving average is $48.91 and its 200 day simple moving average is $44.75. The company has a debt-to-equity ratio of 3.09, a current ratio of 0.90 and a quick ratio of 0.89. Las Vegas Sands Corp. has a fifty-two week low of $36.62 and a fifty-two week high of $55.65.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). Las Vegas Sands had a return on equity of 44.26% and a net margin of 13.29%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Las Vegas Sands Corp. will post 2.33 EPS for the current year.

Las Vegas Sands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Tuesday, November 5th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.63%. Las Vegas Sands’s payout ratio is 39.60%.

Insiders Place Their Bets

In related news, CEO Robert G. Goldstein sold 24,324 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $52.00, for a total value of $1,264,848.00. Following the completion of the transaction, the chief executive officer now directly owns 60,187 shares in the company, valued at approximately $3,129,724. The trade was a 28.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Mizuho lifted their price target on shares of Las Vegas Sands from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company raised their price target on shares of Las Vegas Sands from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Barclays increased their target price on Las Vegas Sands from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Susquehanna boosted their price target on Las Vegas Sands from $51.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley upped their target price on shares of Las Vegas Sands from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

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.