BlueMountain Capital Management LLC Decreases Holdings in Wynn Resorts, Limited (WYNN)
BlueMountain Capital Management LLC trimmed its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 80.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,796 shares of the casino operator’s stock after selling 27,888 shares during the period. BlueMountain Capital Management LLC’s holdings in Wynn Resorts were worth $1,137,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Wynn Resorts by 59.7% in the second quarter. Russell Investments Group Ltd. now owns 105,609 shares of the casino operator’s stock valued at $17,653,000 after acquiring an additional 39,469 shares in the last quarter. Wright Investors Service Inc. acquired a new stake in shares of Wynn Resorts in the second quarter valued at $437,000. Alpine Global Management LLC acquired a new stake in shares of Wynn Resorts in the first quarter valued at $8,206,000. Xact Kapitalforvaltning AB raised its stake in shares of Wynn Resorts by 25.2% in the second quarter. Xact Kapitalforvaltning AB now owns 10,580 shares of the casino operator’s stock valued at $1,770,000 after acquiring an additional 2,127 shares in the last quarter. Finally, State Treasurer State of Michigan raised its stake in shares of Wynn Resorts by 5.9% in the second quarter. State Treasurer State of Michigan now owns 25,070 shares of the casino operator’s stock valued at $4,195,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.
Several brokerages have recently issued reports on WYNN. Citigroup reduced their price objective on Wynn Resorts to $215.00 and set a “buy” rating on the stock in a research note on Monday, June 4th. Deutsche Bank reduced their price objective on Wynn Resorts from $219.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, June 4th. ValuEngine cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. BidaskClub cut Wynn Resorts from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 6th. Finally, Jefferies Financial Group reduced their price objective on Wynn Resorts from $230.00 to $229.00 and set a “buy” rating on the stock in a research note on Friday, June 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Wynn Resorts currently has a consensus rating of “Hold” and an average price target of $189.63.
Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Wednesday, August 1st. The casino operator reported $1.53 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.43). The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $1.18 EPS. analysts predict that Wynn Resorts, Limited will post 7.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 28th. Investors of record on Thursday, August 16th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.22%. The ex-dividend date was Wednesday, August 15th. Wynn Resorts’s dividend payout ratio (DPR) is presently 54.95%.
About Wynn Resorts
Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
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