Victory Capital Management Inc. cut its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 470,694 shares of the casino operator’s stock after selling 9,246 shares during the period. Victory Capital Management Inc. owned approximately 0.46% of Wynn Resorts, Limited worth $70,096,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Reilly Financial Advisors LLC raised its holdings in Wynn Resorts, Limited by 1,000.0% in the second quarter. Reilly Financial Advisors LLC now owns 1,100 shares of the casino operator’s stock valued at $148,000 after buying an additional 1,000 shares during the period. Financial Architects Inc raised its stake in shares of Wynn Resorts, Limited by 4.2% during the second quarter. Financial Architects Inc now owns 1,250 shares of the casino operator’s stock valued at $168,000 after purchasing an additional 50 shares during the period. IFP Advisors Inc increased its stake in shares of Wynn Resorts, Limited by 40.8% in the second quarter. IFP Advisors Inc now owns 1,259 shares of the casino operator’s stock worth $169,000 after buying an additional 365 shares during the last quarter. Hanseatic Management Services Inc. increased its stake in shares of Wynn Resorts, Limited by 808.1% in the second quarter. Hanseatic Management Services Inc. now owns 1,462 shares of the casino operator’s stock worth $196,000 after buying an additional 1,301 shares during the last quarter. Finally, Northside Capital Management LLC bought a new stake in shares of Wynn Resorts, Limited in the second quarter worth $201,000. 70.67% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on WYNN. Stifel Nicolaus boosted their price target on shares of Wynn Resorts, Limited from $134.00 to $153.00 and gave the company a “hold” rating in a report on Friday, October 27th. Telsey Advisory Group downgraded shares of Wynn Resorts, Limited from an “outperform” rating to a “market perform” rating and set a $150.00 price target for the company. in a report on Wednesday, July 26th. TheStreet cut shares of Wynn Resorts, Limited from a “b-” rating to a “c+” rating in a research note on Friday, October 13th. Zacks Investment Research cut shares of Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Instinet restated a “neutral” rating on shares of Wynn Resorts, Limited in a research note on Monday, July 17th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $148.11.
Shares of Wynn Resorts, Limited (WYNN) opened at $154.03 on Monday. Wynn Resorts, Limited has a 1 year low of $82.51 and a 1 year high of $154.67. The firm has a market capitalization of $15,831.59, a price-to-earnings ratio of 34.69 and a beta of 1.72. The company has a debt-to-equity ratio of 24.54, a current ratio of 1.72 and a quick ratio of 1.68.
Wynn Resorts, Limited (NASDAQ:WYNN) last announced its earnings results on Thursday, October 26th. The casino operator reported $1.52 EPS for the quarter, topping the consensus estimate of $1.28 by $0.24. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Wynn Resorts, Limited had a return on equity of 106.21% and a net margin of 6.57%. The business’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share. equities research analysts anticipate that Wynn Resorts, Limited will post 5.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Thursday, November 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, November 15th. Wynn Resorts, Limited’s dividend payout ratio is 55.25%.
In related news, President Matt Maddox sold 42,900 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $143.44, for a total value of $6,153,576.00. Following the transaction, the president now owns 350,586 shares in the company, valued at $50,288,055.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alvin V. Shoemaker sold 15,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $151.74, for a total value of $2,276,100.00. Following the completion of the transaction, the director now directly owns 19,162 shares in the company, valued at approximately $2,907,641.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,146 shares of company stock worth $14,671,932. 13.20% of the stock is owned by company insiders.
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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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