Pictet Asset Management Ltd. cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 17.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,851 shares of the casino operator’s stock after selling 8,906 shares during the period. Pictet Asset Management Ltd.’s holdings in Wynn Resorts, Limited were worth $5,258,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in WYNN. TD Asset Management Inc. raised its position in Wynn Resorts, Limited by 1.9% in the second quarter. TD Asset Management Inc. now owns 29,020 shares of the casino operator’s stock valued at $3,892,000 after buying an additional 542 shares during the last quarter. Retirement Systems of Alabama raised its position in Wynn Resorts, Limited by 0.7% in the second quarter. Retirement Systems of Alabama now owns 38,712 shares of the casino operator’s stock valued at $5,192,000 after buying an additional 284 shares during the last quarter. IFP Advisors Inc raised its position in Wynn Resorts, Limited by 40.8% in the second quarter. IFP Advisors Inc now owns 1,259 shares of the casino operator’s stock valued at $169,000 after buying an additional 365 shares during the last quarter. Korea Investment CORP raised its position in Wynn Resorts, Limited by 10.3% in the second quarter. Korea Investment CORP now owns 306,383 shares of the casino operator’s stock valued at $41,092,000 after buying an additional 28,583 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in Wynn Resorts, Limited during the second quarter valued at $366,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.
Wynn Resorts, Limited (WYNN) opened at 134.62 on Friday. The firm has a 50-day moving average price of $131.63 and a 200-day moving average price of $119.85. The company has a market capitalization of $13.72 billion, a P/E ratio of 50.38 and a beta of 1.72. Wynn Resorts, Limited has a 1-year low of $82.51 and a 1-year high of $139.67. Wynn Resorts, Limited also was the target of unusually large options trading on Tuesday. Traders acquired 13,518 put options on the company. This is an increase of 161% compared to the typical daily volume of 5,177 put options.
Wynn Resorts, Limited (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, July 25th. The casino operator reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.47 billion. Wynn Resorts, Limited had a return on equity of 165.77% and a net margin of 5.02%. The company’s revenue for the quarter was up 44.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 EPS. On average, analysts forecast that Wynn Resorts, Limited will post $4.90 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Tuesday, August 8th. Wynn Resorts, Limited’s dividend payout ratio is currently 74.91%.
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Several research firms have weighed in on WYNN. Deutsche Bank AG raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating and increased their target price for the company from $138.00 to $150.00 in a research note on Tuesday. Zacks Investment Research lowered Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Vetr raised Wynn Resorts, Limited from a “buy” rating to a “strong-buy” rating and set a $146.26 target price on the stock in a research note on Thursday, July 27th. Stifel Nicolaus reissued a “hold” rating and issued a $134.00 target price (up previously from $128.00) on shares of Wynn Resorts, Limited in a research note on Wednesday, July 26th. Finally, UBS AG lowered Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $126.99.
In other Wynn Resorts, Limited news, Director Clark T. Jr. Randt sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $129.00, for a total transaction of $387,000.00. Following the completion of the sale, the director now directly owns 7,711 shares of the company’s stock, valued at approximately $994,719. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Matt Maddox sold 44,309 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $134.35, for a total value of $5,952,914.15. Following the sale, the president now directly owns 344,895 shares of the company’s stock, valued at $46,336,643.25. The disclosure for this sale can be found here. Insiders have sold a total of 69,933 shares of company stock valued at $9,261,125 over the last three months. Corporate insiders own 13.20% of the company’s stock.
About Wynn Resorts, Limited
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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