13:21 LVS Insider Watch: Las Vegas Sands (92.38 -0.63)
(every time its hit near $94 )
With LVS trading near multi-year highs, several insiders have been selling stock in what appears to be open market transactions. Since 11/3, four insiders (the co's COO, two VPs and a director) have sold a total of 1.64 mln shares between $72-95 (roughly $141 mln worth). This insider selling started shortly after the co reported Q3 earnings on 11/1, and has continued as the stock has made a series of multi-year highs. Strength in LVS coincides with strength in the casino sector in general, with M&A speculation in the group heating up after HET received a bid in early-Oct, and Tracinda's recent MGM tender offer helping support the positive sentiment. LVS is up 31% since the end of August. We also note that two of the four insiders mentioned above also sold a smaller amount of stock under 10b5-1 plans back in late-June/early-July... While the insiders mentioned above continue to hold significant stakes in LVS, we found the insider selling at these levels to be interesting. (INSID)
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