Wynn Resorts, Limited (WYNN) Position Boosted by Rhumbline Advisers
Rhumbline Advisers raised its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 152,271 shares of the casino operator’s stock after buying an additional 1,948 shares during the period. Rhumbline Advisers’ holdings in Wynn Resorts, Limited were worth $20,423,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Teachers Advisors LLC boosted its stake in Wynn Resorts, Limited by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 88,872 shares of the casino operator’s stock valued at $7,688,000 after buying an additional 5,198 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in Wynn Resorts, Limited by 13.9% in the first quarter. Gulf International Bank UK Ltd now owns 1,639 shares of the casino operator’s stock valued at $187,000 after buying an additional 200 shares during the last quarter. Bank of Montreal Can boosted its stake in Wynn Resorts, Limited by 40.0% in the first quarter. Bank of Montreal Can now owns 42,685 shares of the casino operator’s stock valued at $4,891,000 after buying an additional 12,193 shares during the last quarter. Bank of The West acquired a new stake in Wynn Resorts, Limited during the first quarter valued at $236,000. Finally, Capital Impact Advisors LLC acquired a new stake in Wynn Resorts, Limited during the first quarter valued at $2,014,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Wynn Resorts, Limited (NASDAQ WYNN) opened at 136.45 on Thursday. The firm has a 50-day moving average price of $131.67 and a 200 day moving average price of $119.75. Wynn Resorts, Limited has a 12-month low of $82.51 and a 12-month high of $139.67. The stock has a market cap of $13.91 billion, a PE ratio of 51.07 and a beta of 1.72. Wynn Resorts, Limited also saw unusually large options trading on Tuesday. Investors purchased 13,518 put options on the stock. This is an increase of approximately 161% compared to the average volume of 5,177 put options.
Wynn Resorts, Limited (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, July 25th. The casino operator reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.02. Wynn Resorts, Limited had a return on equity of 165.77% and a net margin of 5.02%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Wynn Resorts, Limited’s revenue was up 44.5% compared to the same quarter last year. Equities research analysts expect that Wynn Resorts, Limited will post $4.90 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Thursday, August 10th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $2.00 annualized dividend and a yield of 1.47%. Wynn Resorts, Limited’s dividend payout ratio (DPR) is currently 74.91%.
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WYNN has been the topic of several recent analyst reports. Wells Fargo & Company reaffirmed a “neutral” rating on shares of Wynn Resorts, Limited in a report on Wednesday, April 19th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating on shares of Wynn Resorts, Limited in a report on Thursday, April 20th. Zacks Investment Research cut Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. CLSA raised Wynn Resorts, Limited from an “underperform” rating to an “outperform” rating in a report on Thursday, April 20th. Finally, Aegis reaffirmed a “buy” rating and issued a $121.00 price target on shares of Wynn Resorts, Limited in a report on Saturday, April 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $126.99.
In related news, Director Clark T. Jr. Randt sold 3,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $129.00, for a total value of $387,000.00. Following the transaction, the director now owns 7,711 shares of the company’s stock, valued at $994,719. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Kimmarie Sinatra sold 22,624 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $129.12, for a total value of $2,921,210.88. Following the completion of the transaction, the executive vice president now directly owns 221,067 shares in the company, valued at approximately $28,544,171.04. The disclosure for this sale can be found here. In the last three months, insiders sold 69,933 shares of company stock worth $9,261,125. 13.20% of the stock is owned by insiders.
Wynn Resorts, Limited Company Profile
Wynn Resorts, Limited (Wynn Resorts) 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’s segments include Macau Operations and Las Vegas Operations.
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