SG Americas Securities LLC cut its holdings in Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) by 80.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,804 shares of the casino operator’s stock after selling 24,247 shares during the quarter. SG Americas Securities LLC’s holdings in Wynn Resorts were worth $463,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp grew its holdings in shares of Wynn Resorts by 3.7% in the fourth quarter. State Street Corp now owns 4,110,591 shares of the casino operator’s stock valued at $349,565,000 after purchasing an additional 146,960 shares in the last quarter. Geode Capital Management LLC boosted its stake in Wynn Resorts by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,960,369 shares of the casino operator’s stock worth $166,296,000 after buying an additional 52,146 shares during the period. Invesco Ltd. boosted its stake in Wynn Resorts by 7.6% during the fourth quarter. Invesco Ltd. now owns 1,236,037 shares of the casino operator’s stock worth $105,112,000 after buying an additional 87,304 shares during the period. Northern Trust Corp boosted its stake in Wynn Resorts by 1.3% during the fourth quarter. Northern Trust Corp now owns 1,018,116 shares of the casino operator’s stock worth $86,580,000 after buying an additional 13,034 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Wynn Resorts by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 765,825 shares of the casino operator’s stock worth $65,126,000 after buying an additional 23,595 shares during the period. 62.72% of the stock is owned by hedge funds and other institutional investors.
Wynn Resorts Trading Down 0.6 %
Shares of NASDAQ:WYNN opened at $66.71 on Friday. The company has a market capitalization of $7.74 billion, a PE ratio of -11.64 and a beta of 2.15. Wynn Resorts, Limited has a 12-month low of $50.20 and a 12-month high of $107.44. The business’s fifty day simple moving average is $60.25 and its 200-day simple moving average is $71.68.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Barclays assumed coverage on shares of Wynn Resorts in a research note on Tuesday, June 28th. They set an “equal weight” rating and a $62.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Wynn Resorts from $97.00 to $79.00 in a research note on Wednesday, May 11th. UBS Group set a $67.00 target price on Wynn Resorts in a research report on Monday, June 20th. Citigroup decreased their target price on Wynn Resorts from $92.00 to $87.50 and set a “buy” rating for the company in a research report on Tuesday, July 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Wynn Resorts from $123.00 to $92.00 in a research report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.88.
About Wynn Resorts
Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.
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