Bank of Montreal Can Invests $2,672,000 in Wynn Resorts Ltd. (WYNN)
Bank of Montreal Can purchased a new position in Wynn Resorts Ltd. (NASDAQ:WYNN) during the second quarter, according to its most recent filing with the SEC. The fund purchased 29,483 shares of the casino operator’s stock, valued at approximately $2,672,000.
A number of other hedge funds have also made changes to their positions in the company. Ngam Advisors L.P. boosted its stake in shares of Wynn Resorts by 31.6% in the first quarter. Ngam Advisors L.P. now owns 20,504 shares of the casino operator’s stock worth $1,916,000 after buying an additional 4,923 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Wynn Resorts by 5.0% in the first quarter. Teachers Advisors Inc. now owns 85,306 shares of the casino operator’s stock worth $7,970,000 after buying an additional 4,079 shares during the period. BlackRock Group LTD boosted its stake in shares of Wynn Resorts by 0.7% in the first quarter. BlackRock Group LTD now owns 635,440 shares of the casino operator’s stock worth $59,370,000 after buying an additional 4,714 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Wynn Resorts by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,054,223 shares of the casino operator’s stock worth $191,926,000 after buying an additional 5,427 shares during the period. Finally, BlackRock Japan Co. Ltd boosted its stake in shares of Wynn Resorts by 2.3% in the first quarter. BlackRock Japan Co. Ltd now owns 96,902 shares of the casino operator’s stock worth $9,054,000 after buying an additional 2,198 shares during the period. 74.57% of the stock is owned by hedge funds and other institutional investors.
Wynn Resorts Ltd. (NASDAQ:WYNN) traded down 0.13% on Tuesday, reaching $92.98. 1,183,293 shares of the company’s stock traded hands. The stock has a market capitalization of $9.43 billion, a PE ratio of 28.77 and a beta of 1.85. The firm’s 50-day moving average is $98.58 and its 200 day moving average is $96.35. Wynn Resorts Ltd. has a 52-week low of $49.95 and a 52-week high of $109.50.
Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, July 28th. The casino operator reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.16. The firm earned $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Wynn Resorts had a net margin of 7.67% and a return on equity of 3,746.24%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. Analysts forecast that Wynn Resorts Ltd. will post $3.77 EPS for the current year.
A number of analysts recently weighed in on WYNN shares. Deutsche Bank AG reaffirmed a “hold” rating on shares of Wynn Resorts in a research report on Sunday, June 26th. Vetr upgraded shares of Wynn Resorts from a “sell” rating to a “buy” rating and set a $96.42 price objective on the stock in a report on Tuesday, June 28th. Morgan Stanley reiterated an “overweight” rating on shares of Wynn Resorts in a report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a report on Thursday, June 30th. Finally, JPMorgan Chase & Co. lowered shares of Wynn Resorts from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $101.00 to $94.00 in a report on Thursday, July 14th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $103.60.
About Wynn Resorts
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.
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