Stock Traders Buy High Volume of Las Vegas Sands Call Options (NYSE:LVS)

Key Points

• Las Vegas Sands call-option activity surged: Traders purchased 36,939 call options, 486% above the average daily volume of 6,306 contracts.
• Analysts maintain a cautiously positive outlook, with a consensus “Moderate Buy” rating and an average price target of $59.69, despite several firms recently lowering their targets.
• The stock traded at $37.03 after its latest earnings report missed expectations, while the company continued paying a quarterly dividend of $0.30, equivalent to a 3.2% annualized yield.

Las Vegas Sands Corp. (NYSE:LVS - Get Free Report) saw unusually large options trading activity on Tuesday. Stock traders bought 36,939 call options on the company. This represents an increase of 486% compared to the average daily volume of 6,306 call options.

Analyst Ratings Changes

Several analysts have weighed in on the stock. UBS Group set a $52.00 target price on shares of Las Vegas Sands in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $62.00 price target (down from $73.00) on shares of Las Vegas Sands in a report on Thursday, July 23rd. Morgan Stanley lowered their price objective on shares of Las Vegas Sands from $68.00 to $61.00 and set an "equal weight" rating for the company in a research note on Monday, July 27th. Stifel Nicolaus dropped their price objective on shares of Las Vegas Sands from $74.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $47.00 target price on shares of Las Vegas Sands in a research report on Tuesday. Eleven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.69.

Las Vegas Sands Stock Performance

Shares of NYSE:LVS traded up $0.88 during trading on Tuesday, hitting $37.03. The stock had a trading volume of 5,073,452 shares, compared to its average volume of 5,039,866. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 15.27. Las Vegas Sands has a 12-month low of $35.28 and a 12-month high of $70.45. The stock has a market capitalization of $23.98 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 0.89 and a beta of 0.78. The stock has a 50-day simple moving average of $42.37 and a two-hundred day simple moving average of $47.62.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The firm had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $3.31 billion. During the same quarter in the prior year, the company earned $0.66 EPS. Las Vegas Sands's quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts expect that Las Vegas Sands will post 3.09 earnings per share for the current fiscal year.

Las Vegas Sands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Tuesday, August 4th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, August 4th. Las Vegas Sands's dividend payout ratio is 46.69%.

Institutional Trading of Las Vegas Sands

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. NorthCrest Asset Manangement LLC acquired a new stake in Las Vegas Sands during the 3rd quarter worth about $213,000. GAMMA Investing LLC lifted its holdings in shares of Las Vegas Sands by 37.5% in the 3rd quarter. GAMMA Investing LLC now owns 9,569 shares of the casino operator's stock valued at $362,000 after buying an additional 2,609 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Las Vegas Sands by 118.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,448 shares of the casino operator's stock valued at $282,000 after buying an additional 4,042 shares during the period. Gradient Investments LLC acquired a new position in shares of Las Vegas Sands in the 3rd quarter valued at about $1,037,000. Finally, CX Institutional boosted its stake in shares of Las Vegas Sands by 10.2% in the third quarter. CX Institutional now owns 7,832 shares of the casino operator's stock worth $296,000 after buying an additional 722 shares during the last quarter. Institutional investors and hedge funds own 39.16% of the company's stock.

About Las Vegas Sands

Las Vegas Sands Corp. NYSE: LVS is a global developer and operator of integrated resorts that combine casino gaming with hotels, convention and exhibition facilities, retail, dining and entertainment venues. The company's properties are designed to serve leisure travelers, business visitors and convention groups.

Las Vegas Sands operates major integrated resorts in Macau, including The Venetian Macao, The Parisian Macao, The Londoner Macao and Four Seasons Hotel Macao. In Singapore, it operates Marina Bay Sands, a large resort featuring hotel accommodations, gaming, shopping, dining, entertainment and convention facilities.

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