Citadel Investment Advisory Inc. reduced its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,471 shares of the casino operator’s stock after selling 275 shares during the period. Citadel Investment Advisory Inc.’s holdings in Wynn Resorts were worth $1,000,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in WYNN. American Century Companies Inc. raised its holdings in shares of Wynn Resorts by 12.0% during the first quarter. American Century Companies Inc. now owns 9,786 shares of the casino operator’s stock worth $780,000 after purchasing an additional 1,048 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Wynn Resorts by 43.5% during the first quarter. MetLife Investment Management LLC now owns 33,369 shares of the casino operator’s stock valued at $2,661,000 after purchasing an additional 10,117 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Wynn Resorts by 147.2% during the first quarter. Panagora Asset Management Inc. now owns 12,728 shares of the casino operator’s stock valued at $1,015,000 after purchasing an additional 7,580 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Wynn Resorts by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,083 shares of the casino operator’s stock valued at $1,123,000 after purchasing an additional 872 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Wynn Resorts by 0.4% during 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 during the last quarter. 61.88% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Barclays raised their price target on Wynn Resorts from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, July 21st. Morgan Stanley raised their price objective on shares of Wynn Resorts from $110.00 to $113.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 12th. Wells Fargo & Company increased their target price on shares of Wynn Resorts from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, July 13th. Jefferies Financial Group cut shares of Wynn Resorts from a “buy” rating to a “hold” rating and reduced their target price for the stock from $135.00 to $114.00 in a report on Thursday, June 8th. Finally, StockNews.com began coverage on shares of Wynn Resorts in a report on Thursday, August 17th. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.80.
Insiders Place Their Bets
In related news, Director Patricia Mulroy sold 250 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $100.01, for a total transaction of $25,002.50. Following the completion of the transaction, the director now owns 7,817 shares in the company, valued at approximately $781,778.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 1,750 shares of company stock worth $178,768. 0.62% of the stock is currently owned by company insiders.
Wynn Resorts Price Performance
WYNN traded down $0.67 during midday trading on Friday, hitting $97.04. 3,658,671 shares of the company’s stock traded hands, compared to its average volume of 1,715,218. The company has a market cap of $11.06 billion, a PE ratio of -606.50 and a beta of 2.05. The stock’s fifty day simple moving average is $101.74 and its 200-day simple moving average is $105.41. Wynn Resorts, Limited has a one year low of $53.81 and a one year high of $117.86.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last released its earnings results on Wednesday, August 9th. The casino operator reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.40. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. The firm’s revenue was up 75.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.82) EPS. On average, research analysts expect that Wynn Resorts, Limited will post 2.9 EPS for the current year.
Wynn Resorts Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Monday, August 21st were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $1.00 annualized dividend and a yield of 1.03%. Wynn Resorts’s dividend payout ratio is -625.00%.
About Wynn Resorts
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.
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