Tredje AP fonden purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,571 shares of the casino operator’s stock, valued at approximately $545,000.
Several other hedge funds have also recently made changes to their positions in the company. First Republic Investment Management Inc. lifted its stake in shares of Wynn Resorts by 1.8% in the first quarter. First Republic Investment Management Inc. now owns 5,420 shares of the casino operator’s stock worth $647,000 after acquiring an additional 97 shares during the period. Parallel Advisors LLC lifted its stake in Wynn Resorts by 84.2% in the fourth quarter. Parallel Advisors LLC now owns 256 shares of the casino operator’s stock valued at $25,000 after buying an additional 117 shares during the period. Securian Asset Management Inc increased its holdings in shares of Wynn Resorts by 1.3% during the first quarter. Securian Asset Management Inc now owns 9,943 shares of the casino operator’s stock valued at $1,186,000 after acquiring an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Wynn Resorts by 2.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 6,065 shares of the casino operator’s stock valued at $600,000 after acquiring an additional 146 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in shares of Wynn Resorts by 47.1% during the fourth quarter. AdvisorNet Financial Inc now owns 456 shares of the casino operator’s stock valued at $45,000 after acquiring an additional 146 shares in the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on WYNN shares. BidaskClub downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Goldman Sachs Group began coverage on Wynn Resorts in a report on Wednesday, April 10th. They set a “neutral” rating and a $132.00 price target for the company. Morgan Stanley upped their price target on Wynn Resorts from $122.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. ValuEngine downgraded Wynn Resorts from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $108.00 price target on shares of Wynn Resorts in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $147.75.
WYNN traded up $2.30 during trading on Wednesday, reaching $121.26. 1,502,100 shares of the company were exchanged, compared to its average volume of 2,145,171. The stock has a market cap of $13.10 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 1.96 and a beta of 1.88. The company has a debt-to-equity ratio of 4.84, a quick ratio of 1.16 and a current ratio of 1.19. The company has a 50-day simple moving average of $118.31. Wynn Resorts, Limited has a 12-month low of $90.06 and a 12-month high of $169.29.
Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, May 9th. The casino operator reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.02. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.66 billion. Wynn Resorts had a return on equity of 35.83% and a net margin of 13.43%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.30 EPS. Equities analysts predict that Wynn Resorts, Limited will post 6.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Wednesday, May 22nd were paid a $1.00 dividend. This is a positive change from Wynn Resorts’s previous quarterly dividend of $0.75. This represents a $4.00 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Tuesday, May 21st. 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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