Parkwood LLC Takes Position in Wynn Resorts, Limited (WYNN)

Parkwood LLC purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,469 shares of the casino operator’s stock, valued at approximately $465,000.

Several other hedge funds and other institutional investors also recently modified their holdings of WYNN. ING Groep NV boosted its position in Wynn Resorts, Limited by 21.4% in the second quarter. ING Groep NV now owns 20,398 shares of the casino operator’s stock worth $2,736,000 after buying an additional 3,598 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in shares of Wynn Resorts, Limited by 174.8% in the second quarter. Contravisory Investment Management Inc. now owns 2,311 shares of the casino operator’s stock worth $310,000 after buying an additional 1,470 shares during the last quarter. Private Bank & Trust Co. raised its stake in shares of Wynn Resorts, Limited by 47.1% in the second quarter. Private Bank & Trust Co. now owns 21,960 shares of the casino operator’s stock worth $2,945,000 after buying an additional 7,035 shares during the last quarter. Financial Architects Inc raised its stake in shares of Wynn Resorts, Limited by 4.2% in the second quarter. Financial Architects Inc now owns 1,250 shares of the casino operator’s stock worth $168,000 after buying an additional 50 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Wynn Resorts, Limited by 28.8% in the second quarter. APG Asset Management N.V. now owns 148,182 shares of the casino operator’s stock worth $19,874,000 after buying an additional 33,100 shares during the last quarter. Institutional investors own 72.83% of the company’s stock.

Wynn Resorts, Limited (NASDAQ WYNN) opened at 134.90 on Friday. The stock has a market cap of $13.75 billion, a PE ratio of 50.49 and a beta of 1.72. Wynn Resorts, Limited has a 12 month low of $82.51 and a 12 month high of $139.67. The stock’s 50 day moving average price is $131.69 and its 200-day moving average price is $120.08.

Wynn Resorts, Limited (NASDAQ:WYNN) last released its earnings results on Tuesday, July 25th. The casino operator reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.02. Wynn Resorts, Limited had a net margin of 5.02% and a return on equity of 165.77%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the company posted $1.07 EPS. The business’s revenue was up 44.5% on a year-over-year basis. Analysts anticipate that Wynn Resorts, Limited will post $4.90 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Thursday, August 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, August 8th. Wynn Resorts, Limited’s dividend payout ratio (DPR) is 74.91%.

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WYNN has been the topic of a number of recent research reports. Barclays PLC raised Wynn Resorts, Limited from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $87.00 to $144.00 in a research note on Friday, May 12th. Vetr raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $140.28 price target on the stock in a research note on Thursday, June 29th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Wynn Resorts, Limited in a research note on Wednesday, July 12th. Zacks Investment Research raised Wynn Resorts, Limited from a “hold” rating to a “strong-buy” rating and set a $144.00 price objective on the stock in a research note on Friday, April 28th. Finally, Telsey Advisory Group lowered Wynn Resorts, Limited from an “outperform” rating to a “market perform” rating and set a $150.00 price objective on the stock. in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $126.99.

In other news, President Matt Maddox sold 44,309 shares of Wynn Resorts, Limited stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $134.35, for a total transaction of $5,952,914.15. Following the sale, the president now owns 344,895 shares of the company’s stock, valued at approximately $46,336,643.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kimmarie Sinatra sold 22,624 shares of Wynn Resorts, Limited stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $129.12, for a total transaction of $2,921,210.88. Following the sale, 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. Insiders sold a total of 69,933 shares of company stock worth $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.

Institutional Ownership by Quarter for Wynn Resorts, Limited (NASDAQ:WYNN)

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