Wynn Resorts Ltd. (WYNN) Position Boosted by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. raised its stake in shares of Wynn Resorts Ltd. (NASDAQ:WYNN) by 421.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,411 shares of the casino operator’s stock after buying an additional 35,895 shares during the period. Oppenheimer & Co. Inc.’s holdings in Wynn Resorts were worth $4,326,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Columbus Circle Investors bought a new position in Wynn Resorts during the second quarter worth $64,835,000. Point72 Asset Management L.P. boosted its position in Wynn Resorts by 516.6% in the second quarter. Point72 Asset Management L.P. now owns 480,328 shares of the casino operator’s stock worth $43,537,000 after buying an additional 402,428 shares during the period. Thornburg Investment Management Inc. boosted its position in Wynn Resorts by 81.7% in the second quarter. Thornburg Investment Management Inc. now owns 874,764 shares of the casino operator’s stock worth $79,289,000 after buying an additional 393,277 shares during the period. Victory Capital Management Inc. boosted its position in Wynn Resorts by 35,168.8% in the third quarter. Victory Capital Management Inc. now owns 366,796 shares of the casino operator’s stock worth $35,733,000 after buying an additional 365,756 shares during the period. Finally, Vanguard Group Inc. boosted its position in Wynn Resorts by 3.8% in the second quarter. Vanguard Group Inc. now owns 7,392,996 shares of the casino operator’s stock worth $670,102,000 after buying an additional 273,781 shares during the period. 74.82% of the stock is owned by institutional investors and hedge funds.
Shares of Wynn Resorts Ltd. (NASDAQ:WYNN) traded down 2.17% during mid-day trading on Tuesday, reaching $99.79. The company’s stock had a trading volume of 2,684,498 shares. The stock has a market capitalization of $10.12 billion, a P/E ratio of 47.07 and a beta of 1.89. The company has a 50 day moving average price of $93.40 and a 200 day moving average price of $96.14. Wynn Resorts Ltd. has a 12 month low of $49.95 and a 12 month high of $109.50.
Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Wednesday, November 2nd. The casino operator reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by $0.03. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. Wynn Resorts had a return on equity of 3,973.99% and a net margin of 5.24%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. On average, equities research analysts anticipate that Wynn Resorts Ltd. will post $3.79 earnings per share for the current fiscal 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. This represents a $2.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, November 15th. Wynn Resorts’s payout ratio is 94.34%.
WYNN has been the subject of a number of analyst reports. Vetr raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $103.36 price target for the company in a report on Monday, August 1st. Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Monday, August 1st. Buckingham Research started coverage on Wynn Resorts in a research report on Friday, August 12th. They issued a “buy” rating and a $113.00 price objective for the company. reaffirmed an “underperform” rating and issued a $97.00 price objective on shares of Wynn Resorts in a research report on Wednesday, August 24th. Finally, Susquehanna reaffirmed 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 assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $102.16.
In other Wynn Resorts news, Director Daniel Boone Wayson sold 37,500 shares of the stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $87.12, for a total transaction of $3,267,000.00. Following the transaction, the director now directly owns 54,510 shares of the company’s stock, valued at $4,748,911.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.60% of the company’s stock.
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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