Las Vegas Sands Corp. (NYSE:LVS) Sees Significant Drop in Short Interest

Las Vegas Sands Corp. (NYSE:LVS) was the target of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 9,831,154 shares, a decline 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 days-to-cover ratio is presently 1.6 days. Currently, 1.5% of the shares of the stock are sold short. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,985,646 shares, the days-to-cover ratio is presently 1.6 days.

Insider Activity

In other Las Vegas Sands news, major shareholder Miriam Adelson sold 77,991 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $67.56, for a total value of $5,269,071.96. Following the completion of the transaction, the insider directly owned 23,333,441 shares of the company’s stock, valued at approximately $1,576,407,273.96. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert G. Goldstein sold 1,198,650 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $66.68, for a total value of $79,925,982.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,477,991 shares of company stock valued at $165,323,554 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Las Vegas Sands

Institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH grew its holdings in Las Vegas Sands by 358.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 227,278 shares of the casino operator’s stock worth $12,225,000 after acquiring an additional 177,695 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Las Vegas Sands by 7.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 644,286 shares of the casino operator’s stock worth $28,033,000 after buying an additional 42,598 shares during the period. Maple Rock Capital Partners Inc. boosted its position in Las Vegas Sands by 124.4% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,003,880 shares of the casino operator’s stock valued at $43,679,000 after acquiring an additional 556,440 shares in the last quarter. Donoghue Forlines LLC purchased a new position in shares of Las Vegas Sands during the 3rd quarter worth approximately $2,143,000. Finally, National Pension Service bought a new position in shares of Las Vegas Sands in the 3rd quarter worth approximately $1,262,000. Institutional investors and hedge funds own 39.16% of the company’s stock.

Las Vegas Sands Stock Performance

LVS traded up $0.45 during trading hours on Wednesday, reaching $56.15. The company’s stock had a trading volume of 2,712,042 shares, compared to its average volume of 4,656,447. The company’s 50-day moving average is $59.39 and its 200-day moving average is $58.95. The company has a debt-to-equity ratio of 7.58, a quick ratio of 1.13 and a current ratio of 1.14. The firm has a market cap of $37.73 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 1.42 and a beta of 0.88. Las Vegas Sands has a 52 week low of $30.18 and a 52 week high of $70.45.

Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, January 28th. The casino operator reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.08. Las Vegas Sands had a return on equity of 91.40% and a net margin of 12.50%.The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm posted $0.54 EPS. Las Vegas Sands’s quarterly revenue was up 26.0% on a year-over-year basis. On average, equities analysts forecast that Las Vegas Sands will post 2.6 EPS for the current year.

Las Vegas Sands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Monday, February 9th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Las Vegas Sands’s previous quarterly dividend of $0.25. Las Vegas Sands’s payout ratio is currently 51.28%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LVS. Seaport Research Partners lowered their price target on Las Vegas Sands from $75.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, January 14th. Macquarie Infrastructure reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Las Vegas Sands in a research note on Thursday, January 29th. The Goldman Sachs Group cut their price target on Las Vegas Sands from $80.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Citigroup boosted their target price on Las Vegas Sands from $75.50 to $76.75 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, Morgan Stanley set a $66.00 price objective on Las Vegas Sands in a report on Wednesday, February 11th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Las Vegas Sands presently has a consensus rating of “Moderate Buy” and an average target price of $68.55.

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.