Swiss National Bank reduced its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,362 shares of the casino operator’s stock after selling 10,100 shares during the quarter. Swiss National Bank owned about 0.29% of Wynn Resorts worth $39,226,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Optimum Investment Advisors acquired a new stake in Wynn Resorts during the 1st quarter worth $36,000. Manchester Financial Inc. acquired a new position in Wynn Resorts in the second quarter valued at $36,000. Zions Bancorporation N.A. acquired a new position in Wynn Resorts in the first quarter valued at $41,000. Robeco Institutional Asset Management B.V. acquired a new position in Wynn Resorts in the first quarter valued at $48,000. Finally, FinTrust Capital Advisors LLC increased its stake in Wynn Resorts by 10,900.0% in the first quarter. FinTrust Capital Advisors LLC now owns 440 shares of the casino operator’s stock valued at $53,000 after purchasing an additional 436 shares during the period. Hedge funds and other institutional investors own 79.03% of the company’s stock.
A number of research analysts have commented on WYNN shares. ValuEngine upgraded shares of Wynn Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Bank of America upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $150.00 to $165.00 in a research note on Thursday, April 25th. Deutsche Bank set a $150.00 price objective on shares of Wynn Resorts and gave the company a “buy” rating in a research note on Wednesday, August 7th. Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $146.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $120.00 price objective (down from $125.00) on shares of Wynn Resorts in a research note on Friday, May 10th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Wynn Resorts currently has an average rating of “Buy” and an average price target of $136.93.
Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.44. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.60 billion. Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 earnings per share. As a group, equities analysts expect that Wynn Resorts, Limited will post 5.79 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Friday, August 16th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, August 15th. Wynn Resorts’s payout ratio is 61.16%.
Wynn Resorts 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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