Madison Asset Management LLC Boosts Stock Position in Las Vegas Sands Corp. $LVS

Key Points

• Madison Asset Management more than doubled its stake in Las Vegas Sands during the first quarter, buying 84,500 additional shares for a total of 162,500 shares valued at about $8.76 million.
• Several other hedge funds also increased their positions, and institutional investors now own about 39.16% of the company’s stock.
• Las Vegas Sands reported strong quarterly results, with EPS of $0.91 beating estimates and revenue of $3.58 billion topping forecasts, even as the stock traded near its 52-week low.

Madison Asset Management LLC raised its position in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 108.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,500 shares of the casino operator's stock after purchasing an additional 84,500 shares during the period. Madison Asset Management LLC's holdings in Las Vegas Sands were worth $8,756,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Swiss Life Asset Management Ltd boosted its position in shares of Las Vegas Sands by 116.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 148,196 shares of the casino operator's stock worth $9,646,000 after acquiring an additional 79,641 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in Las Vegas Sands by 411.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 44,208 shares of the casino operator's stock valued at $2,877,000 after purchasing an additional 35,566 shares during the period. Wealthfront Advisers LLC increased its position in Las Vegas Sands by 40.6% during the fourth quarter. Wealthfront Advisers LLC now owns 67,446 shares of the casino operator's stock worth $4,390,000 after purchasing an additional 19,488 shares during the last quarter. Perpetual Ltd acquired a new position in Las Vegas Sands during the fourth quarter worth approximately $2,051,000. Finally, SG Americas Securities LLC raised its stake in Las Vegas Sands by 2,655.3% during the fourth quarter. SG Americas Securities LLC now owns 878,022 shares of the casino operator's stock worth $57,150,000 after purchasing an additional 846,155 shares during the period. 39.16% of the stock is owned by institutional investors and hedge funds.

Las Vegas Sands Stock Down 0.8%

Shares of Las Vegas Sands stock opened at $45.43 on Wednesday. The business has a 50-day moving average of $48.55 and a 200-day moving average of $53.54. The company has a debt-to-equity ratio of 8.64, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market capitalization of $30.10 billion, a PE ratio of 16.82, a P/E/G ratio of 1.04 and a beta of 0.83. Las Vegas Sands Corp. has a 1-year low of $44.22 and a 1-year high of $70.45.

Las Vegas Sands (NYSE:LVS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The casino operator reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.15. Las Vegas Sands had a net margin of 13.41% and a return on equity of 118.27%. The firm had revenue of $3.58 billion for the quarter, compared to analysts' expectations of $3.32 billion. During the same period in the prior year, the company posted $0.59 earnings per share. The firm's quarterly revenue was up 25.3% on a year-over-year basis. As a group, equities analysts forecast that Las Vegas Sands Corp. will post 3.37 EPS for the current fiscal year.

Analyst Ratings Changes

LVS has been the topic of a number of research analyst reports. UBS Group set a $52.00 target price on Las Vegas Sands in a report on Thursday, July 2nd. Stifel Nicolaus upped their price target on Las Vegas Sands from $72.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Wells Fargo & Company cut their price objective on Las Vegas Sands from $65.00 to $53.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 14th. Mizuho lifted their price objective on Las Vegas Sands from $65.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Finally, Bank of America decreased their target price on Las Vegas Sands from $70.00 to $60.00 and set a "neutral" rating for the company in a report on Monday. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Las Vegas Sands presently has an average rating of "Moderate Buy" and a consensus price target of $65.31.

About Las Vegas Sands

Las Vegas Sands NYSE: LVS is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company's operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company's portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.

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