BlackRock Inc. reduced its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,081,889 shares of the casino operator’s stock after selling 111,726 shares during the quarter. BlackRock Inc. owned 5.65% of Wynn Resorts worth $754,097,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in WYNN. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Wynn Resorts by 569.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 35,590 shares of the casino operator’s stock worth $4,247,000 after purchasing an additional 30,271 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of Wynn Resorts by 236.5% during the 2nd quarter. Retirement Systems of Alabama now owns 151,788 shares of the casino operator’s stock worth $18,820,000 after purchasing an additional 106,680 shares in the last quarter. PM CAPITAL Ltd grew its holdings in shares of Wynn Resorts by 4.2% during the 2nd quarter. PM CAPITAL Ltd now owns 242,411 shares of the casino operator’s stock worth $30,057,000 after purchasing an additional 9,681 shares in the last quarter. Edge Wealth Management LLC acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth $248,000. Finally, NEXT Financial Group Inc grew its holdings in shares of Wynn Resorts by 81.7% during the 2nd quarter. NEXT Financial Group Inc now owns 545 shares of the casino operator’s stock worth $68,000 after purchasing an additional 245 shares in the last quarter. 75.66% of the stock is currently owned by institutional investors.
Wynn Resorts stock opened at $126.47 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 5.00. The company has a market capitalization of $13.62 billion, a PE ratio of 19.34, a P/E/G ratio of 2.43 and a beta of 2.07. Wynn Resorts, Limited has a 12 month low of $90.06 and a 12 month high of $151.50. The stock has a 50-day moving average price of $114.45 and a two-hundred day moving average price of $120.37.
Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Wednesday, November 6th. The casino operator reported $0.17 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.73). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.67 billion. Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. Wynn Resorts’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.68 earnings per share. As a group, analysts predict that Wynn Resorts, Limited will post 5.21 earnings per share for the current fiscal year.
The company also recently announced a dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be given a $1.00 dividend. The ex-dividend date is Wednesday, November 13th. Wynn Resorts’s dividend payout ratio is presently 61.16%.
WYNN has been the topic of several research analyst reports. Nomura reduced their price objective on Wynn Resorts from $126.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. UBS Group reduced their price objective on Wynn Resorts from $119.00 to $114.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. BidaskClub raised Wynn Resorts from a “sell” rating to a “hold” rating in a research note on Saturday, October 12th. Deutsche Bank set a $150.00 price objective on Wynn Resorts and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Standpoint Research initiated coverage on Wynn Resorts in a research note on Wednesday, September 4th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $137.59.
In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $122.47, for a total value of $3,061,750.00. Following the completion of the transaction, the chief executive officer now directly owns 407,107 shares in the company, valued at $49,858,394.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 75,000 shares of company stock valued at $8,750,250 over the last quarter. Corporate insiders own 0.58% of the company’s stock.
Wynn Resorts Profile
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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