We are removing shares of Las Vegas Sands (LVS) from Investing Ideas. LVS was added on 1/31/13. Shares have risen over 9.5% during this time, more than doubling the 4.1% return for the S&P 500.
Hedgeye Gaming, Lodging & Leisure Sector Head Todd Jordan writes, "While Las Vegas Sands remains the best positioned company in all of gaming over the long-term in our opinion, we don’t see many near-term catalysts for continued stock price momentum. Macau growth is decelerating, and while still strong, may not be enough to push LVS into further record territory."
Jordan adds that, "we would be buyers on any meaningful pullback as LVS occupies a unique position in the consumer sector: significant cash flow generation, numerous high growth capital deployment opportunities, and a shareholder friendly management team now bent on returning cash to shareholders."