OppenheimerFunds Inc. trimmed its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 96.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,236 shares of the casino operator’s stock after selling 83,171 shares during the quarter. OppenheimerFunds Inc.’s holdings in Wynn Resorts were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of WYNN. Silvant Capital Management LLC purchased a new position in Wynn Resorts during the first quarter worth about $104,000. Synovus Financial Corp purchased a new position in Wynn Resorts during the first quarter worth about $147,000. Smithfield Trust Co. grew its position in Wynn Resorts by 1,818.2% during the first quarter. Smithfield Trust Co. now owns 1,055 shares of the casino operator’s stock worth $193,000 after buying an additional 1,000 shares in the last quarter. Miles Capital Inc. purchased a new position in Wynn Resorts during the first quarter worth about $202,000. Finally, FDx Advisors Inc. purchased a new position in Wynn Resorts during the fourth quarter worth about $203,000. Institutional investors and hedge funds own 76.26% of the company’s stock.
WYNN has been the subject of several research analyst reports. Union Gaming Research raised Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price target for the stock from $170.00 to $205.00 in a research note on Friday, March 23rd. BidaskClub lowered Wynn Resorts from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 6th. Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Tuesday, March 6th. Deutsche Bank reaffirmed a “buy” rating and set a $219.00 price target on shares of Wynn Resorts in a research note on Sunday, April 29th. Finally, ValuEngine lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $202.71.
Wynn Resorts opened at $167.20 on Wednesday, according to Marketbeat. Wynn Resorts, Limited has a 1-year low of $124.11 and a 1-year high of $203.63. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.17 and a quick ratio of 1.13. The stock has a market capitalization of $18.48 billion, a PE ratio of 30.62 and a beta of 1.40.
Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, April 24th. The casino operator reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.32. Wynn Resorts had a return on equity of 101.01% and a net margin of 6.75%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the company posted $1.24 EPS. Wynn Resorts’s revenue for the quarter was up 20.5% on a year-over-year basis. equities research analysts forecast that Wynn Resorts, Limited will post 8.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 29th. Stockholders of record on Thursday, May 17th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Wednesday, May 16th. This is a positive change from Wynn Resorts’s previous quarterly dividend of $0.50. Wynn Resorts’s payout ratio is 54.95%.
In other Wynn Resorts news, CEO Matt Maddox sold 18,450 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $191.09, for a total transaction of $3,525,610.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Jos Miller sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $191.73, for a total value of $1,917,300.00. Following the transaction, the director now directly owns 19,162 shares of the company’s stock, valued at approximately $3,673,930.26. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
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.
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