Millennium Management LLC Cuts Holdings in Wynn Resorts (NASDAQ:WYNN)

Millennium Management LLC trimmed its position in shares of Wynn Resorts (NASDAQ:WYNN) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 439,637 shares of the casino operator’s stock after selling 20,015 shares during the quarter. Millennium Management LLC owned approximately 0.43% of Wynn Resorts worth $74,118,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of WYNN. Mckinley Capital Management LLC Delaware bought a new position in Wynn Resorts in the fourth quarter valued at approximately $171,000. Calton & Associates Inc. acquired a new stake in Wynn Resorts in the fourth quarter worth $178,000. IBM Retirement Fund acquired a new stake in Wynn Resorts in the fourth quarter worth $201,000. FDx Advisors Inc. acquired a new stake in Wynn Resorts in the fourth quarter worth $203,000. Finally, Segment Wealth Management LLC acquired a new stake in Wynn Resorts in the fourth quarter worth $217,000. 70.30% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Friday, March 30th. Morgan Stanley raised their price objective on shares of Wynn Resorts from $194.00 to $197.00 and gave the stock a “hold” rating in a report on Tuesday, March 27th. Jefferies Group reaffirmed a “buy” rating on shares of Wynn Resorts in a research report on Wednesday, March 21st. Union Gaming Research raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and raised their target price for the company from $170.00 to $205.00 in a research report on Friday, March 23rd. Finally, JPMorgan Chase raised their target price on shares of Wynn Resorts from $196.00 to $214.00 and gave the company an “overweight” rating in a research report on Tuesday, March 27th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Wynn Resorts currently has an average rating of “Buy” and a consensus target price of $190.86.

WYNN stock traded down $2.75 during trading on Friday, reaching $178.49. 2,809,602 shares of the company were exchanged, compared to its average volume of 3,075,744. The stock has a market cap of $18,412.49, a price-to-earnings ratio of 32.69 and a beta of 1.40. Wynn Resorts has a twelve month low of $112.91 and a twelve month high of $203.63. The company has a debt-to-equity ratio of 8.87, a current ratio of 1.77 and a quick ratio of 1.74.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, January 22nd. The casino operator reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.07. Wynn Resorts had a net margin of 11.85% and a return on equity of 100.14%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. equities research analysts anticipate that Wynn Resorts will post 7.77 EPS for the current fiscal year.

In related news, major shareholder Stephen A. Wynn sold 4,104,999 shares of the business’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $180.00, for a total transaction of $738,899,820.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 13.20% of the stock is owned by insiders.

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About Wynn Resorts

Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.

Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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