Columbus Circle Investors reduced its stake in shares of Wynn Resorts (NASDAQ:WYNN) by 62.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,394 shares of the casino operator’s stock after selling 331,202 shares during the quarter. Columbus Circle Investors owned approximately 0.19% of Wynn Resorts worth $36,179,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Synovus Financial Corp purchased a new position in Wynn Resorts during the 1st quarter valued at $147,000. Mckinley Capital Management LLC Delaware purchased a new position in Wynn Resorts during the 4th quarter valued at $171,000. Calton & Associates Inc. purchased a new position in Wynn Resorts during the 4th quarter valued at $178,000. IBM Retirement Fund purchased a new position in Wynn Resorts during the 4th quarter valued at $201,000. Finally, Miles Capital Inc. purchased a new position in Wynn Resorts during the 1st quarter valued at $202,000. 65.63% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Robert Jos Miller sold 10,000 shares of the stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $191.73, for a total transaction of $1,917,300.00. Following the sale, the director now directly owns 19,162 shares of the company’s stock, valued at approximately $3,673,930.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Stephen A. Wynn sold 4,104,999 shares of the stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $180.00, for a total transaction of $738,899,820.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,133,449 shares of company stock worth $744,342,731 over the last three months. 0.95% of the stock is currently owned by insiders.
WYNN has been the topic of a number of research analyst reports. Jefferies Group initiated coverage on shares of Wynn Resorts in a research report on Thursday, January 18th. They set a “buy” rating and a $202.00 price objective on the stock. BidaskClub raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Bank of America reaffirmed a “hold” rating and issued a $200.00 target price on shares of Wynn Resorts in a research report on Tuesday, January 23rd. Citigroup set a $228.00 target price on shares of Wynn Resorts and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $201.00 target price (up from $153.00) on shares of Wynn Resorts in a research report on Tuesday, January 23rd. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $199.94.
Shares of WYNN stock opened at $189.98 on Friday. Wynn Resorts has a one year low of $189.45 and a one year high of $191.93. The stock has a market cap of $20.73 billion, a P/E ratio of 34.79 and a beta of 1.39. The company has a current ratio of 1.17, a quick ratio of 1.13 and a debt-to-equity ratio of 11.97.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, April 24th. The casino operator reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.32. Wynn Resorts had a net margin of 6.75% and a return on equity of 101.01%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm posted $1.24 EPS. Wynn Resorts’s revenue for the quarter was up 20.5% on a year-over-year basis. analysts forecast that Wynn Resorts will post 8.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 29th. Investors of record on Thursday, May 17th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.58%. This is an increase from Wynn Resorts’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, May 16th. Wynn Resorts’s dividend payout ratio is 54.95%.
About Wynn Resorts
Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
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