Waddell & Reed Financial Inc. lifted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 281.4% in the second quarter, HoldingsChannel.com reports. The firm owned 247,880 shares of the casino operator’s stock after purchasing an additional 182,880 shares during the period. Waddell & Reed Financial Inc.’s holdings in Wynn Resorts were worth $41,480,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of WYNN. BlackRock Inc. grew its stake in Wynn Resorts by 12.6% during the 2nd quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock worth $957,788,000 after buying an additional 641,845 shares during the last quarter. Winslow Capital Management LLC bought a new position in shares of Wynn Resorts in the first quarter worth $184,340,000. Massachusetts Financial Services Co. MA grew its stake in shares of Wynn Resorts by 15.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,010,495 shares of the casino operator’s stock worth $169,096,000 after purchasing an additional 136,113 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Wynn Resorts by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 735,421 shares of the casino operator’s stock worth $123,065,000 after purchasing an additional 58,243 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Wynn Resorts by 491.2% in the second quarter. FMR LLC now owns 625,891 shares of the casino operator’s stock worth $104,737,000 after purchasing an additional 520,025 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.
Several research analysts have recently issued reports on WYNN shares. Citigroup decreased their price target on Wynn Resorts to $215.00 and set a “buy” rating for the company in a research note on Monday, June 4th. Credit Suisse Group started coverage on Wynn Resorts in a research note on Tuesday, August 14th. They issued a “neutral” rating and a $155.00 price target for the company. Barclays decreased their price target on Wynn Resorts from $224.00 to $213.00 and set an “overweight” rating for the company in a research note on Thursday, August 2nd. Argus cut Wynn Resorts from a “buy” rating to a “hold” rating and set a $135.00 price target for the company. in a research note on Tuesday, August 7th. Finally, Stifel Nicolaus decreased their target price on Wynn Resorts from $207.00 to $192.00 and set a “buy” rating for the company in a research note on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $189.63.
WYNN stock traded down $0.18 during trading hours on Monday, hitting $135.10. 205,056 shares of the stock traded hands, compared to its average volume of 2,504,337. Wynn Resorts, Limited has a one year low of $126.96 and a one year high of $203.63. The stock has a market capitalization of $14.66 billion, a P/E ratio of 24.74, a P/E/G ratio of 0.86 and a beta of 1.42. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 4.47.
Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Wednesday, August 1st. The casino operator reported $1.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.96 by ($0.43). Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the business earned $1.18 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. sell-side analysts anticipate that Wynn Resorts, Limited will post 7.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 28th. Stockholders of record on Thursday, August 16th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Wednesday, August 15th. Wynn Resorts’s dividend payout ratio is 54.95%.
Wynn Resorts Company Profile
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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