Is Las Vegas Sands Corp. (LVS) Trading at an Attractive Valuation?

Polen Capital, an investment management company, released its “Polen Global Emerging Markets Growth” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 12.96% gross compared to a 9.70% return for the MSCI Emerging Markets Index. Stock selection in the communication services and financial sectors contributed to the fund’s performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Polen Global Emerging Markets Growth highlighted stocks like Las Vegas Sands Corp. (NYSE:LVS) in the fourth quarter 2022 investor letter. Based in Las Vegas, Nevada, Las Vegas Sands Corp. (NYSE:LVS) owns and operates resorts in Macao and Singapore. On April 3, 2023, Las Vegas Sands Corp. (NYSE:LVS) stock closed at $58.72 per share. One-month return of Las Vegas Sands Corp. (NYSE:LVS) was -0.47%, and its shares gained 55.22% of their value over the last 52 weeks. Las Vegas Sands Corp. (NYSE:LVS) has a market capitalization of $44.878 billion.

Polen Global Emerging Markets Growth made the following comment about Las Vegas Sands Corp. (NYSE:LVS) in its Q4 2022 investor letter:

“Las Vegas Sands Corp. (NYSE:LVS) is the premier casino business in Asia, with two of the region’s top properties and a leading management team. The business has struggled in recent times on account of the pandemic. Still, its Singapore operation has recovered, and we believe that Macau, in a post-COVID world, should also be highly lucrative. We believe the shares are trading at an attractive valuation, and once the business recovers to 2019 levels, we think it can continue to grow steadily in the 15% range for several years. On a normalized business, we can expect LVS to generate a return on invested capital (ROIC) of more than 20%, a highly attractive dynamic given the significant structural growth potential.”

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Las Vegas Sands Corp. (NYSE:LVS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 57 hedge fund portfolios held Las Vegas Sands Corp. (NYSE:LVS) at the end of the fourth quarter which was 48 in the previous quarter.

We discussed Las Vegas Sands Corp. (NYSE:LVS) in another article and shared the list of top women-owned companies in the US. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.