Mitsubishi UFJ Trust & Banking Corp lifted its position in Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) by 16.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 58,214 shares of the casino operator’s stock after purchasing an additional 8,424 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Wynn Resorts were worth $3,317,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in WYNN. First Horizon Advisors Inc. grew its holdings in shares of Wynn Resorts by 1,986.7% in the first quarter. First Horizon Advisors Inc. now owns 313 shares of the casino operator’s stock worth $25,000 after purchasing an additional 298 shares during the last quarter. Sierra Capital LLC bought a new position in shares of Wynn Resorts in the second quarter worth approximately $28,000. NuWave Investment Management LLC bought a new position in shares of Wynn Resorts in the second quarter worth approximately $29,000. Crewe Advisors LLC grew its holdings in shares of Wynn Resorts by 68.0% in the second quarter. Crewe Advisors LLC now owns 504 shares of the casino operator’s stock worth $29,000 after purchasing an additional 204 shares during the last quarter. Finally, CI Investments Inc. grew its holdings in shares of Wynn Resorts by 8,333.3% in the first quarter. CI Investments Inc. now owns 506 shares of the casino operator’s stock worth $40,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 64.69% of the company’s stock.
Insider Transactions at Wynn Resorts
In other news, Director Patricia Mulroy sold 2,000 shares of Wynn Resorts stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $66.14, for a total value of $132,280.00. Following the completion of the transaction, the director now owns 6,781 shares of the company’s stock, valued at approximately $448,495.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.62% of the stock is owned by insiders.
Wynn Resorts Price Performance
Wynn Resorts (NASDAQ:WYNN – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The casino operator reported ($1.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.20). The company had revenue of $889.70 million during the quarter, compared to analysts’ expectations of $867.42 million. Wynn Resorts’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.24) EPS. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post -4.42 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on WYNN. Citigroup raised their target price on shares of Wynn Resorts from $87.50 to $91.00 and gave the stock a “buy” rating in a report on Monday, September 26th. Credit Suisse Group upgraded shares of Wynn Resorts from a “neutral” rating to an “outperform” rating and set a $117.00 price target on the stock in a report on Thursday, September 15th. StockNews.com started coverage on shares of Wynn Resorts in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wynn Resorts from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Finally, Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Monday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $96.69.
Wynn Resorts Company 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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