Interval Partners LP Makes New Investment in Las Vegas Sands Corp. $LVS

Key Points

• Interval Partners LP purchased a new stake of 246,551 shares in Las Vegas Sands during the third quarter, valued at about $13.26 million.
• Insiders have been heavy sellers recently: CEO Robert G. Goldstein sold 1,198,650 shares for roughly $79.93 million and major shareholder Miriam Adelson sold 77,991 shares for about $5.27 million, with insiders offloading 2,062,502 shares (~$137.73M) over the past three months.
• Las Vegas Sands beat quarterly expectations with $0.85 EPS on $3.65 billion revenue, and the company raised its quarterly dividend to $0.30 (annualized $1.20, ~2.2% yield); analysts hold a "Moderate Buy" consensus with an average price target of $68.55.

Interval Partners LP purchased a new stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 246,551 shares of the casino operator's stock, valued at approximately $13,262,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Total Investment Management Inc. acquired a new stake in Las Vegas Sands in the second quarter valued at approximately $25,000. Westside Investment Management Inc. increased its position in shares of Las Vegas Sands by 48.0% in the 3rd 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 during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Las Vegas Sands in the 3rd quarter valued at approximately $33,000. Smartleaf Asset Management LLC increased its position in shares of Las Vegas Sands by 549.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 630 shares of the casino operator's stock valued at $35,000 after purchasing an additional 533 shares during the last quarter. Finally, MAI Capital Management lifted its position in shares of Las Vegas Sands by 78.4% during the 3rd quarter. MAI Capital Management now owns 710 shares of the casino operator's stock worth $38,000 after purchasing an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 39.16% of the company's stock.

Insider Transactions at Las Vegas Sands

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 1,198,650 shares of Las Vegas Sands stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $66.68, for a total value of $79,925,982.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Miriam Adelson sold 77,991 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $1,576,407,273.96. The trade was a 0.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,062,502 shares of company stock worth $137,730,622. Corporate insiders own 1.20% of the company's stock.

Las Vegas Sands Price Performance

Shares of NYSE LVS opened at $53.67 on Friday. The stock has a market cap of $36.06 billion, a P/E ratio of 22.94, a P/E/G ratio of 1.37 and a beta of 0.88. Las Vegas Sands Corp. has a twelve month low of $30.18 and a twelve month high of $70.45. The stock has a 50 day moving average of $57.60 and a two-hundred day moving average of $58.90. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 7.58.

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

Las Vegas Sands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Monday, February 9th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.2%. This is a positive change from Las Vegas Sands's previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 9th. Las Vegas Sands's payout ratio is currently 51.28%.

Wall Street Analysts Forecast Growth

LVS has been the subject of a number of recent analyst reports. Seaport Research Partners decreased 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. Jefferies Financial Group decreased their target price on Las Vegas Sands from $78.00 to $72.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Argus dropped their price target on shares of Las Vegas Sands from $80.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, January 30th. Morgan Stanley set a $66.00 target price on shares of Las Vegas Sands in a report on Wednesday, February 11th. Finally, HSBC increased their target price on shares of Las Vegas Sands from $67.50 to $73.00 and gave the company a "buy" rating in a research report on Thursday, January 29th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $68.55.

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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