AdvisorNet Financial Inc cut its stake in Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) by 6.8% in the second quarter, Holdings Channel.com reports. The firm owned 7,335 shares of the casino operator’s stock after selling 535 shares during the quarter. AdvisorNet Financial Inc’s holdings in Wynn Resorts were worth $418,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Wynn Resorts by 1.0% in the first quarter. Vanguard Group Inc. now owns 11,054,684 shares of the casino operator’s stock valued at $881,500,000 after purchasing an additional 113,816 shares in the last quarter. BlackRock Inc. grew its position in shares of Wynn Resorts by 0.4% in the first quarter. BlackRock Inc. now owns 6,846,725 shares of the casino operator’s stock valued at $545,957,000 after purchasing an additional 30,460 shares in the last quarter. State Street Corp grew its position 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 grew its position in shares of Wynn Resorts by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 1,960,369 shares of the casino operator’s stock valued at $166,296,000 after purchasing an additional 52,146 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Wynn Resorts by 3.8% in the first quarter. Invesco Ltd. now owns 1,282,504 shares of the casino operator’s stock valued at $102,267,000 after purchasing an additional 46,467 shares in the last quarter. 64.69% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Credit Suisse Group upgraded Wynn Resorts from a “neutral” rating to an “outperform” rating and set a $117.00 price objective for the company in a research report on Thursday. Wells Fargo & Company lowered their price objective on Wynn Resorts from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, August 11th. Barclays increased their price objective on Wynn Resorts to $71.00 in a research report on Monday, August 15th. Citigroup lowered their price objective 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, UBS Group set a $67.00 price objective on Wynn Resorts in a research report on Monday, June 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $98.32.
Wynn Resorts Stock Performance
Wynn Resorts (NASDAQ:WYNN – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The casino operator reported ($0.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.12. The company had revenue of $908.83 million during the quarter, compared to analyst estimates of $980.84 million. The firm’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.12) earnings per share. On average, equities analysts forecast that Wynn Resorts, Limited will post -3.7 EPS for the current year.
In other news, Director Patricia Mulroy sold 2,000 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $67.11, for a total value of $134,220.00. Following the sale, the director now directly owns 8,781 shares in the company, valued at $589,292.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.62% of the company’s stock.
Wynn Resorts Profile
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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