IFM Investors Pty Ltd boosted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 72.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,065 shares of the casino operator’s stock after purchasing an additional 4,647 shares during the quarter. IFM Investors Pty Ltd’s holdings in Wynn Resorts were worth $1,203,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of WYNN. Amundi Pioneer Asset Management Inc. increased its holdings in 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 during the period. Retirement Systems of Alabama increased its holdings in 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 during the period. PM CAPITAL Ltd increased its holdings in 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 during the period. Edge Wealth Management LLC purchased a new stake in Wynn Resorts during the 2nd quarter worth about $248,000. Finally, NEXT Financial Group Inc increased its holdings in 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 during the period. Institutional investors own 75.66% of the company’s stock.
Several equities research analysts have weighed in on the company. Goldman Sachs Group upgraded Wynn Resorts from a “neutral” rating to a “buy” rating and upped their price target for the stock from $140.00 to $155.00 in a report on Tuesday, September 24th. Nomura cut their price target on Wynn Resorts from $126.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Credit Suisse Group upped their price target on Wynn Resorts from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday. Barclays cut their price target on Wynn Resorts from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Finally, Citigroup set a $141.00 price objective on Wynn Resorts and gave the stock a “buy” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Wynn Resorts currently has a consensus rating of “Buy” and a consensus price target of $137.59.
In other news, CEO Matt Maddox sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $110.24, for a total transaction of $2,756,000.00. Following the completion of the transaction, the chief executive officer now directly owns 432,731 shares of the company’s stock, valued at approximately $47,704,265.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have sold 75,000 shares of company stock valued at $8,750,250. Company insiders own 0.58% of the company’s stock.
Shares of NASDAQ:WYNN traded up $0.98 on Friday, hitting $126.47. 1,396,900 shares of the company’s stock were exchanged, compared to its average volume of 2,073,250. 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. The firm’s 50-day moving average is $114.45 and its 200 day moving average is $120.37. Wynn Resorts, Limited has a 1-year low of $90.06 and a 1-year high of $151.50. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.95 and a current ratio of 1.00.
Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.73). The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company posted $1.68 earnings per share. On average, analysts anticipate that Wynn Resorts, Limited will post 5.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, November 13th. Wynn Resorts’s dividend payout ratio (DPR) is 61.16%.
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.
Further Reading: Stocks at 52 Week High
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