Chevy Chase Trust Holdings Inc. Sells 3,307 Shares of Wynn Resorts Ltd. (WYNN)
Chevy Chase Trust Holdings Inc. reduced its position in shares of Wynn Resorts Ltd. (NASDAQ:WYNN) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,256 shares of the casino operator’s stock after selling 3,307 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.07% of Wynn Resorts worth $6,455,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. TLP Group LLC purchased a new position in shares of Wynn Resorts during the second quarter worth approximately $114,000. Mizuho Asset Management Co. Ltd. raised its position in shares of Wynn Resorts by 176.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,266 shares of the casino operator’s stock worth $115,000 after buying an additional 808 shares during the last quarter. Krilogy Financial LLC raised its position in shares of Wynn Resorts by 57.8% in the second quarter. Krilogy Financial LLC now owns 1,775 shares of the casino operator’s stock worth $161,000 after buying an additional 650 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Wynn Resorts by 10.4% in the second quarter. Pacer Advisors Inc. now owns 1,814 shares of the casino operator’s stock worth $164,000 after buying an additional 171 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Wynn Resorts during the second quarter worth approximately $182,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.
Shares of Wynn Resorts Ltd. (NASDAQ:WYNN) traded up 2.62% during midday trading on Wednesday, hitting $102.40. The stock had a trading volume of 2,008,397 shares. Wynn Resorts Ltd. has a 52 week low of $49.95 and a 52 week high of $109.50. The company has a market cap of $10.39 billion, a price-to-earnings ratio of 48.30 and a beta of 1.89. The stock’s 50-day moving average price is $93.40 and its 200 day moving average price is $96.14.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, November 2nd. The casino operator reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 earned $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business posted $0.86 EPS. Wynn Resorts’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts forecast that Wynn Resorts Ltd. will post $3.79 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 29th. Investors of record on Thursday, November 17th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $2.00 annualized dividend and a yield of 2.00%. Wynn Resorts’s payout ratio is 94.34%.
Several research firms have recently issued reports on WYNN. JPMorgan Chase & Co. restated a “hold” rating and issued a $87.00 price target on shares of Wynn Resorts in a research report on Thursday, November 3rd. Telsey Advisory Group reduced their price target on Wynn Resorts from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. Buckingham Research began coverage on Wynn Resorts in a research report on Friday, August 12th. They issued a “buy” rating and a $113.00 price target on the stock. Gabelli restated a “buy” rating and issued a $124.00 price target on shares of Wynn Resorts in a research report on Monday, October 17th. Finally, Nomura reduced their price target on Wynn Resorts from $83.00 to $77.00 and set a “reduce” rating on the stock in a research report on Thursday, November 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $102.16.
In related news, Director Daniel Boone Wayson sold 37,500 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $87.12, for a total value of $3,267,000.00. Following the transaction, the director now owns 54,510 shares of the company’s stock, valued at approximately $4,748,911.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.60% of the stock is currently owned by corporate insiders.
Wynn Resorts Company Profile
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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