National Pension Service Increases Position in Wynn Resorts, Limited (NASDAQ:WYNN)
National Pension Service increased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 5.5% during the third quarter, Holdings Channel reports. The fund owned 136,789 shares of the casino operator’s stock after acquiring an additional 7,141 shares during the quarter. National Pension Service’s holdings in Wynn Resorts were worth $14,872,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. increased its position in shares of Wynn Resorts by 569.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 35,590 shares of the casino operator’s stock worth $4,247,000 after acquiring an additional 30,271 shares during the last quarter. NEXT Financial Group Inc grew its position in Wynn Resorts by 81.7% during the 2nd quarter. NEXT Financial Group Inc now owns 545 shares of the casino operator’s stock worth $68,000 after acquiring an additional 245 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Wynn Resorts by 6.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 9,925 shares of the casino operator’s stock worth $1,230,000 after acquiring an additional 576 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Wynn Resorts by 580.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,723 shares of the casino operator’s stock valued at $338,000 after purchasing an additional 2,323 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Wynn Resorts by 16.9% during the 2nd quarter. Arizona State Retirement System now owns 45,683 shares of the casino operator’s stock valued at $5,664,000 after purchasing an additional 6,618 shares in the last quarter. 73.17% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the company. Citigroup set a $141.00 price objective on Wynn Resorts and gave the stock a “buy” rating in a research note on Thursday, September 12th. Nomura lowered their target price on Wynn Resorts from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. Morgan Stanley cut their price target on Wynn Resorts from $129.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. Standpoint Research initiated coverage on Wynn Resorts in a report on Wednesday, September 4th. They issued a “buy” rating for the company. Finally, Union Gaming Research downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating and reduced their price target for the stock from $150.00 to $135.00 in a research report on Thursday, November 7th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Wynn Resorts currently has an average rating of “Buy” and a consensus price target of $137.41.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.73). Wynn Resorts had a return on equity of 25.33% and a net margin of 10.12%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm earned $1.68 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 4.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Wednesday, November 13th. Wynn Resorts’s dividend payout ratio is presently 61.16%.
In other news, CEO Matt Maddox sold 25,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $122.47, for a total value of $3,061,750.00. Following the transaction, the chief executive officer now directly owns 407,107 shares in the company, valued at approximately $49,858,394.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig Scott Billings sold 3,750 shares of Wynn Resorts stock in a transaction on Monday, November 18th. The stock was sold at an average price of $119.85, for a total value of $449,437.50. Following the sale, the chief financial officer now directly owns 66,451 shares of the company’s stock, valued at $7,964,152.35. The disclosure for this sale can be found here. Insiders have sold a total of 78,750 shares of company stock valued at $9,199,688 in the last ninety days. Company insiders own 0.58% of the company’s stock.
Wynn Resorts Company Profile
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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