Wynn Resorts Ltd. (WYNN) Director Daniel Boone Wayson Sells 37,500 Shares of Stock
Wynn Resorts Ltd. (NASDAQ:WYNN) Director Daniel Boone Wayson sold 37,500 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $87.12, for a total transaction of $3,267,000.00. Following the completion of the transaction, the director now owns 54,510 shares in the company, valued at $4,748,911.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Wynn Resorts Ltd. (NASDAQ:WYNN) opened at 87.84 on Thursday. Wynn Resorts Ltd. has a 12-month low of $49.95 and a 12-month high of $109.50. The company’s 50 day moving average is $95.96 and its 200 day moving average is $95.96. The firm has a market capitalization of $8.91 billion, a PE ratio of 41.43 and a beta of 1.89.
Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Wednesday, November 2nd. The casino operator reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by $0.03. Wynn Resorts had a net margin of 5.24% and a return on equity of 3,973.99%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts forecast that Wynn Resorts Ltd. will post $3.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Thursday, November 17th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, November 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.28%. Wynn Resorts’s payout ratio is presently 94.34%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Columbus Circle Investors acquired a new position in Wynn Resorts during the second quarter worth about $64,835,000. Euclid Advisors LLC increased its position in Wynn Resorts by 7,331.2% in the first quarter. Euclid Advisors LLC now owns 286,846 shares of the casino operator’s stock worth $26,800,000 after buying an additional 282,986 shares during the last quarter. Alps Advisors Inc. increased its position in Wynn Resorts by 3.1% in the second quarter. Alps Advisors Inc. now owns 262,208 shares of the casino operator’s stock worth $23,767,000 after buying an additional 7,960 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new position in Wynn Resorts during the first quarter worth about $44,826,000. Finally, Pacific Heights Asset Management LLC increased its position in Wynn Resorts by 19.2% in the second quarter. Pacific Heights Asset Management LLC now owns 155,000 shares of the casino operator’s stock worth $14,049,000 after buying an additional 25,000 shares during the last quarter. Institutional investors own 74.60% of the company’s stock.
Several analysts recently weighed in on the stock. Nomura downgraded shares of Wynn Resorts from a “neutral” rating to a “reduce” rating and lifted their price objective for the company from $78.00 to $83.00 in a research report on Friday, July 29th. Vetr upgraded shares of Wynn Resorts from a “buy” rating to a “strong-buy” rating and set a $112.54 price objective on the stock in a research report on Wednesday, August 10th. Credit Agricole SA set a $97.00 price objective on shares of Wynn Resorts and gave the company a “sell” rating in a research report on Monday, September 19th. JPMorgan Chase & Co. downgraded shares of Wynn Resorts from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $101.00 to $94.00 in a research report on Thursday, July 14th. They noted that the move was a valuation call. Finally, Susquehanna reiterated a “neutral” rating and issued a $105.00 price objective on shares of Wynn Resorts in a research report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $102.27.
About Wynn Resorts
Wynn Resorts, Limited 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 operates through two segments: Macau Operations and Las Vegas Operations.
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