LAS VEGAS—Hudson (NYSE:HUD) D. Zachary, Executive Vice President and Global General Counsel of Las Vegas Sands Corp (NYSE:NYSE:LVS), has reported the sale of 25,785 shares of the company's common stock. The shares were sold on November 27 at an average price of $51.40, amounting to a total transaction value of approximately $1.33 million. The stock has since risen to $54.99, with InvestingPro data showing the company trading near its 52-week high of $55.66 and maintaining a GREAT financial health score.
Following this transaction, Mr. Zachary no longer holds any shares of Las Vegas Sands directly. However, he retains options to purchase 650,000 shares that are vested, as well as options for an additional 510,157 shares and 47,290 restricted stock units that are currently unvested.
This stock sale was disclosed in a filing with the Securities and Exchange Commission, signed by Judy Tomkins, Attorney-in-Fact for Mr. Zachary.
In other recent news, Las Vegas Sands Corp. reported strong earnings and revenue results, with hold-adjusted EBITDA in Macau surpassing expectations at $583 million. The firm's Singapore operations, despite some rooms being out of service, produced a hold-adjusted EBITDA of $484 million. Financial firms Mizuho (NYSE:MFG) Securities and Stifel have both raised their price targets for Las Vegas Sands, with Mizuho setting a new target of $57 and Stifel raising their target to $64, maintaining a Buy rating on the stock.
The company experienced robust growth in its Macao and Singapore markets during the third quarter of 2024. CEO Rob Goldstein projected that Macao's gross gaming revenues will surpass $30 billion by 2025. In addition, Las Vegas Sands Corp. announced a repurchase of $450 million in stock and an increase in its annual dividend to $1 per share for 2025.
Despite renovation disruptions, Macao's EBITDA reached $585 million, while Marina Bay Sands posted an EBITDA of $406 million. The recent opening of the Londoner Grand Casino (EPA:CASP) and the ongoing $1.75 billion refurbishment at Marina Bay Sands in Singapore are anticipated to further enhance the company's prospects. These are recent developments that indicate a promising outlook for the company's future growth.
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