Profund Advisors LLC raised its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 14.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,403 shares of the casino operator’s stock after buying an additional 1,198 shares during the period. Profund Advisors LLC’s holdings in Wynn Resorts were worth $1,166,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Financial Group Inc. acquired a new position in Wynn Resorts in the second quarter valued at about $35,000. Manchester Financial Inc. acquired a new position in Wynn Resorts in the second quarter valued at about $36,000. Zions Bancorporation N.A. acquired a new position in Wynn Resorts in the first quarter valued at about $41,000. Robeco Institutional Asset Management B.V. acquired a new position in Wynn Resorts in the first quarter valued at about $48,000. Finally, FinTrust Capital Advisors LLC boosted its position in Wynn Resorts by 10,900.0% in the first quarter. FinTrust Capital Advisors LLC now owns 440 shares of the casino operator’s stock valued at $53,000 after buying an additional 436 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.
In related news, CEO Matt Maddox sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $117.30, for a total value of $2,932,500.00. Following the transaction, the chief executive officer now directly owns 459,185 shares in the company, valued at $53,862,400.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.58% of the company’s stock.
A number of equities analysts have recently issued reports on WYNN shares. Morgan Stanley reduced their target price on shares of Wynn Resorts from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 6th. UBS Group reduced their target price on shares of Wynn Resorts from $119.00 to $114.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st. BidaskClub upgraded shares of Wynn Resorts from a “sell” rating to a “hold” rating in a research report on Thursday. Barclays reduced their target price on shares of Wynn Resorts from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group upped their target price on shares of Wynn Resorts from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $136.93.
Shares of WYNN stock traded up $0.38 during trading hours on Friday, reaching $117.46. 1,700,742 shares of the company were exchanged, compared to its average volume of 2,294,596. The stock’s fifty day moving average is $114.27 and its two-hundred day moving average is $124.10. Wynn Resorts, Limited has a fifty-two week low of $90.06 and a fifty-two week high of $151.50. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 2.09 and a beta of 2.05. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.00 and a quick ratio of 0.95.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.44. Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the business posted $1.53 earnings per share. Wynn Resorts’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that Wynn Resorts, Limited will post 5.85 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Friday, August 16th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $4.00 annualized dividend and a yield of 3.41%. Wynn Resorts’s dividend payout ratio is currently 61.16%.
About Wynn Resorts
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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