Ameriprise Financial Inc. Increases Stake in Wynn Resorts Ltd. (WYNN)
Ameriprise Financial Inc. increased its stake in Wynn Resorts Ltd. (NASDAQ:WYNN) by 9.0% during the second quarter, Holdings Channel reports. The firm owned 49,716 shares of the casino operator’s stock after buying an additional 4,093 shares during the period. Ameriprise Financial Inc.’s holdings in Wynn Resorts were worth $4,506,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Norinchukin Bank The increased its stake in shares of Wynn Resorts by 2.3% in the second quarter. Norinchukin Bank The now owns 4,271 shares of the casino operator’s stock valued at $387,000 after buying an additional 94 shares during the period. Blair William & Co. IL increased its stake in shares of Wynn Resorts by 16.7% in the second quarter. Blair William & Co. IL now owns 3,605 shares of the casino operator’s stock valued at $327,000 after buying an additional 515 shares during the period. Argent Capital Management LLC increased its position in Wynn Resorts by 46.9% in the second quarter. Argent Capital Management LLC now owns 538,990 shares of the casino operator’s stock worth $48,854,000 after buying an additional 172,090 shares during the last quarter. Moors & Cabot Inc. increased its position in Wynn Resorts by 0.3% in the second quarter. Moors & Cabot Inc. now owns 2,954 shares of the casino operator’s stock worth $268,000 after buying an additional 10 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Wynn Resorts by 207.9% in the second quarter. Janney Montgomery Scott LLC now owns 17,463 shares of the casino operator’s stock worth $1,449,000 after buying an additional 11,791 shares during the last quarter. Institutional investors own 74.57% of the company’s stock.
Wynn Resorts Ltd. (NASDAQ:WYNN) traded down 0.11% during trading on Monday, reaching $93.27. The company had a trading volume of 494,666 shares. The company has a 50-day moving average of $98.42 and a 200-day moving average of $96.33. Wynn Resorts Ltd. has a 52-week low of $49.95 and a 52-week high of $109.50. The firm has a market capitalization of $9.46 billion, a P/E ratio of 28.86 and a beta of 1.85.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, July 28th. The casino operator reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.16. The firm earned $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. Wynn Resorts’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. Analysts expect that Wynn Resorts Ltd. will post $3.77 EPS for the current fiscal year.
A number of research analysts have recently commented on WYNN shares. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Wynn Resorts in a report on Wednesday, October 5th. Credit Agricole SA reiterated an “underperform” rating on shares of Wynn Resorts in a report on Friday. Vetr downgraded Wynn Resorts from a “strong-buy” rating to a “buy” rating and set a $100.18 price objective on the stock. in a report on Wednesday, July 6th. Wells Fargo & Co. reiterated a “neutral” rating on shares of Wynn Resorts in a report on Monday, October 10th. Finally, Zacks Investment Research upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Monday, August 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Wynn Resorts currently has an average rating of “Buy” and a consensus target price of $101.85.
Wynn Resorts Company Profile
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
Want to see what other hedge funds are holding WYNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wynn Resorts Ltd. (NASDAQ:WYNN).
Receive News & Ratings for Wynn Resorts Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.