Las Vegas Sands Corp. (NYSE:LVS) Sees Significant Decline in Short Interest
by Sarita Garza · The Markets DailyLas Vegas Sands Corp. (NYSE:LVS – Get Free Report) saw a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 9,831,154 shares, a decrease of 19.2% from the January 29th total of 12,162,489 shares. Based on an average daily trading volume, of 5,985,646 shares, the short-interest ratio is currently 1.6 days. Currently, 1.5% of the company’s stock are short sold. Currently, 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 5,985,646 shares, the short-interest ratio is currently 1.6 days.
Insider Activity
In other Las Vegas Sands news, COO Patrick Dumont sold 135,603 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $67.96, for a total transaction of $9,215,579.88. Following the transaction, the chief operating officer owned 446,608 shares of the company’s stock, valued at $30,351,479.68. The trade was a 23.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Miriam Adelson sold 77,991 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $67.56, for a total value of $5,269,071.96. Following the sale, the insider owned 23,333,441 shares in the company, valued at approximately $1,576,407,273.96. This represents a 0.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,613,594 shares of company stock worth $174,539,134 in the last quarter. Corporate insiders own 1.20% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of LVS. Grove Bank & Trust bought a new stake in Las Vegas Sands during the fourth quarter worth $26,000. International Assets Investment Management LLC bought a new position in Las Vegas Sands in the 4th quarter worth about $26,000. DV Equities LLC bought a new position in shares of Las Vegas Sands in the fourth quarter valued at approximately $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in Las Vegas Sands in the 4th quarter valued at $29,000. Finally, Westside Investment Management Inc. raised its position in Las Vegas Sands by 48.0% during the third quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator’s stock valued at $28,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 39.16% of the company’s stock.
Las Vegas Sands Price Performance
LVS stock traded down $0.61 during midday trading on Tuesday, reaching $55.75. The company had a trading volume of 4,100,117 shares, compared to its average volume of 6,242,735. Las Vegas Sands has a 1-year low of $30.18 and a 1-year high of $70.45. The stock has a 50 day moving average price of $59.60 and a 200-day moving average price of $58.94. The company has a debt-to-equity ratio of 7.58, a current ratio of 1.14 and a quick ratio of 1.13. The company has a market capitalization of $37.46 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.45 and a beta of 0.88.
Las Vegas Sands (NYSE:LVS – Get Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The casino operator reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.08. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.33 billion. Las Vegas Sands had a net margin of 12.50% and a return on equity of 91.40%. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. Equities research analysts expect that Las Vegas Sands will post 2.6 earnings per share for the current year.
Las Vegas Sands Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Monday, February 9th were given a $0.30 dividend. This is a boost from Las Vegas Sands’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.2%. Las Vegas Sands’s dividend payout ratio is presently 51.28%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. Wall Street Zen downgraded Las Vegas Sands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Las Vegas Sands in a research report on Monday, December 29th. Wells Fargo & Company upped their price target on shares of Las Vegas Sands from $67.00 to $68.00 and gave the company an “equal weight” rating in a research note on Thursday, January 29th. Barclays set a $64.00 price target on shares of Las Vegas Sands in a research report on Thursday, January 29th. Finally, Mizuho boosted their price objective on shares of Las Vegas Sands from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Las Vegas Sands presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.55.
Get Our Latest Research Report on Las Vegas Sands
Las Vegas Sands Company Profile
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.