Trexquant Investment LP Invests $1.38 Million in Wynn Resorts, Limited (NASDAQ:WYNN)

Trexquant Investment LP acquired a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,571 shares of the casino operator’s stock, valued at approximately $1,381,000.

Other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of Wynn Resorts by 84.2% in the 4th quarter. Parallel Advisors LLC now owns 256 shares of the casino operator’s stock worth $25,000 after acquiring an additional 117 shares during the period. Rockefeller Capital Management L.P. bought a new stake in shares of Wynn Resorts in the 1st quarter worth approximately $25,000. JOYN Advisors Inc. lifted its position in shares of Wynn Resorts by 1,680.0% in the 4th quarter. JOYN Advisors Inc. now owns 267 shares of the casino operator’s stock worth $26,000 after acquiring an additional 252 shares during the period. Optimum Investment Advisors bought a new stake in shares of Wynn Resorts in the 1st quarter worth approximately $36,000. Finally, Zions Bancorporation N.A. bought a new stake in shares of Wynn Resorts in the 1st quarter worth approximately $41,000. Institutional investors own 77.51% of the company’s stock.

Several equities analysts recently commented on WYNN shares. Bank of America upgraded Wynn Resorts from a “neutral” rating to a “buy” rating and raised their target price for the stock from $150.00 to $165.00 in a research report on Thursday, April 25th. Goldman Sachs Group started coverage on Wynn Resorts in a research report on Wednesday, April 10th. They set a “neutral” rating and a $132.00 target price for the company. Morgan Stanley raised their target price on Wynn Resorts from $122.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. BidaskClub downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, ValuEngine downgraded Wynn Resorts from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $147.75.

Shares of WYNN opened at $115.61 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 4.84. Wynn Resorts, Limited has a 52-week low of $90.06 and a 52-week high of $176.73. The firm has a market capitalization of $12.62 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 1.89 and a beta of 1.88.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, May 9th. The casino operator reported $1.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.02. Wynn Resorts had a return on equity of 35.83% and a net margin of 13.43%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company posted $2.30 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Wynn Resorts, Limited will post 6.22 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Wednesday, May 22nd were paid a $1.00 dividend. This is a boost from Wynn Resorts’s previous quarterly dividend of $0.75. This represents a $4.00 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Tuesday, May 21st. Wynn Resorts’s dividend payout ratio (DPR) is 61.16%.

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About Wynn Resorts

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

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