Las Vegas Sands Corp. (NYSE:LVS) Sees Large Growth in Short Interest
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Las Vegas Sands Corp. (NYSE:LVS - Get Rating) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 18,570,000 shares, a growth of 17.3% from the October 15th total of 15,830,000 shares. Currently, 5.7% of the shares of the company are sold short. Based on an average daily trading volume, of 6,780,000 shares, the short-interest ratio is currently 2.7 days.
Las Vegas Sands Stock Up 5.5 %
LVS stock opened at $43.32 on Monday. Las Vegas Sands has a 52-week low of $28.88 and a 52-week high of $48.27. The company's 50 day simple moving average is $38.19 and its 200-day simple moving average is $36.31. The company has a debt-to-equity ratio of 3.64, a current ratio of 1.83 and a quick ratio of 1.82. The firm has a market capitalization of $33.10 billion, a P/E ratio of 17.68 and a beta of 1.12.
Las Vegas Sands (NYSE:LVS - Get Rating) last released its quarterly earnings results on Wednesday, October 19th. The casino operator reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.03). Las Vegas Sands had a net margin of 46.94% and a negative return on equity of 25.33%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned ($0.45) EPS. The firm's revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Las Vegas Sands will post -1.19 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LVS. Truist Financial Corp grew its position in Las Vegas Sands by 35.4% during the first quarter. Truist Financial Corp now owns 23,805 shares of the casino operator's stock valued at $925,000 after purchasing an additional 6,229 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in Las Vegas Sands in the first quarter worth approximately $269,000. Chevy Chase Trust Holdings Inc. grew its position in Las Vegas Sands by 0.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 206,701 shares of the casino operator's stock worth $8,035,000 after acquiring an additional 519 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Las Vegas Sands by 29.3% in the first quarter. Daiwa Securities Group Inc. now owns 26,604 shares of the casino operator's stock worth $1,034,000 after acquiring an additional 6,031 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new stake in Las Vegas Sands in the first quarter worth approximately $283,000. 39.84% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
LVS has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Las Vegas Sands in a research note on Wednesday, October 12th. They set a "sell" rating for the company. Citigroup boosted their target price on shares of Las Vegas Sands from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, October 20th. Stifel Nicolaus boosted their target price on shares of Las Vegas Sands from $46.00 to $50.00 in a research note on Thursday, July 21st. Wells Fargo & Company raised shares of Las Vegas Sands from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $43.00 to $45.00 in a research note on Thursday, July 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Las Vegas Sands from $42.00 to $44.00 in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.50.
About Las Vegas Sands
(Get Rating)Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore.
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