Las Vegas Sands (LVS)

• Market cap: $32.2B
• 1 day: -2.92%
• 5 days: -8.99%
• 1 month: -15.12%
• 3 months: -14.12%
• 6 months: 14.18%
• Year to date: -13.37%
• 1 year: -15.42%
• 5 years: -36.32%
• 10 years: -22.90%
• Sector: Consumer Discretionary
• Industry: Hotels & Motels

About: Las Vegas Sands is the world's largest operator of fully integrated resorts, featuring casino, hotel, entertainment, food and beverage, retail, and convention center operations. The company owns the Venetian Macao, Sands Macao, Londoner Macao, Four Seasons Hotel Macao, and Parisian Macao, as well as the Marina Bay Sands resort in Singapore. We expect Sands to open a fourth tower in Singapore toward the end of 2028. Its Venetian and Palazzo Las Vegas assets in the U.S. were sold to Apollo and VICI in 2022. With the sale of its Vegas assets, the company generates all its EBITDA from Asia, with its casino operations generating the majority of sales.

Employees: 38,700

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

51% more call options, than puts

Call options by funds: $1.14B | Put options by funds: $754M

8% more capital invested

Capital invested by funds: $15.6B [Q2] → $16.9B (+$1.33B) [Q3]

1.69% less ownership

Funds ownership: 47.37% [Q2] → 45.68% (-1.69%) [Q3]

3% less funds holding

Funds holding: 609 [Q2] → 591 (-18) [Q3]

12% less first-time investments, than exits

New positions opened: 89 | Existing positions closed: 101

17% less repeat investments, than reductions

Existing positions increased: 194 | Existing positions reduced: 235

50% less funds holding in top 10

Funds holding in top 10: 8 [Q2] → 4 (-4) [Q3]

Research analyst outlook

7 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $51 18% upside
• Avg. target: $61 41% upside
• High target: $69 60% upside

7 analyst ratings

• positive: 6 86%
• neutral: 1 14%
• negative: 0 0%

Macquarie Chad Beynon 60% 1-year accuracy 24 / 40 met price target	34% upside $58	Outperform Maintained	31 Jan 2025
Citigroup George Choi 0% 1-year accuracy 0 / 4 met price target	55% upside $67	Buy Maintained	30 Jan 2025
Wells Fargo Daniel Politzer 61% 1-year accuracy 35 / 57 met price target	36% upside $59	Overweight Maintained	30 Jan 2025
Morgan Stanley Stephen Grambling 50% 1-year accuracy 13 / 26 met price target	18% upside $51	Equal-Weight Downgraded	14 Jan 2025
Jefferies David Katz 45% 1-year accuracy 10 / 22 met price target	60% upside $69	Buy Upgraded	3 Jan 2025