Candriam S.C.A. Decreases Stock Position in Wynn Resorts, Limited $WYNN

Candriam S.C.A. decreased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 48.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,802 shares of the casino operator’s stock after selling 8,247 shares during the quarter. Candriam S.C.A.’s holdings in Wynn Resorts were worth $825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Regal Partners Ltd grew its position in shares of Wynn Resorts by 21.5% during the first quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator’s stock worth $91,147,000 after buying an additional 192,873 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Wynn Resorts by 12.7% in the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator’s stock worth $82,834,000 after acquiring an additional 111,428 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in Wynn Resorts by 53.4% during the 2nd quarter. DAVENPORT & Co LLC now owns 913,086 shares of the casino operator’s stock worth $85,895,000 after acquiring an additional 317,850 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Wynn Resorts in the 1st quarter valued at approximately $41,731,000. Finally, Long Focus Capital Management LLC increased its position in shares of Wynn Resorts by 84.0% in the 1st quarter. Long Focus Capital Management LLC now owns 300,000 shares of the casino operator’s stock valued at $25,050,000 after purchasing an additional 137,000 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director owned 3,066 shares in the company, valued at $383,250. This represents a 59.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of analyst reports. Zacks Research upgraded shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Morgan Stanley upped their price objective on Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Mizuho increased their price objective on Wynn Resorts from $126.00 to $131.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. The Goldman Sachs Group boosted their target price on Wynn Resorts from $124.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, UBS Group raised Wynn Resorts from a “neutral” rating to a “buy” rating and upped their price target for the company from $101.00 to $147.00 in a report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $118.14 on Tuesday. The company has a market capitalization of $12.28 billion, a P/E ratio of 35.48, a PEG ratio of 4.94 and a beta of 1.32. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $134.23. The stock has a 50-day simple moving average of $123.48 and a 200-day simple moving average of $109.46.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. As a group, analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, November 17th. Wynn Resorts’s payout ratio is presently 22.37%.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.