Advisors Asset Management Inc. Has $981,000 Stake in Wynn Resorts, Limited (WYNN)
Advisors Asset Management Inc. reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 63.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,318 shares of the casino operator’s stock after selling 12,903 shares during the period. Advisors Asset Management Inc.’s holdings in Wynn Resorts, Limited were worth $981,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of the company. Wedbush Securities Inc. raised its stake in Wynn Resorts, Limited by 2.3% in the second quarter. Wedbush Securities Inc. now owns 3,291 shares of the casino operator’s stock worth $441,000 after buying an additional 73 shares in the last quarter. Rhumbline Advisers raised its stake in Wynn Resorts, Limited by 1.3% in the second quarter. Rhumbline Advisers now owns 152,271 shares of the casino operator’s stock valued at $20,423,000 after buying an additional 1,948 shares during the period. Smith Asset Management Group LP purchased a new stake in Wynn Resorts, Limited during the second quarter valued at approximately $10,948,000. First Trust Advisors LP purchased a new stake in Wynn Resorts, Limited during the second quarter valued at approximately $12,137,000. Finally, Arizona State Retirement System raised its stake in Wynn Resorts, Limited by 0.5% in the second quarter. Arizona State Retirement System now owns 19,755 shares of the casino operator’s stock valued at $2,650,000 after buying an additional 100 shares during the period. Institutional investors own 70.77% of the company’s stock.
Wynn Resorts, Limited (NASDAQ:WYNN) opened at 135.25 on Wednesday. Wynn Resorts, Limited has a 1-year low of $82.51 and a 1-year high of $139.67. The stock has a market cap of $13.79 billion, a P/E ratio of 50.62 and a beta of 1.72. The company has a 50-day moving average of $132.11 and a 200 day moving average of $121.40.
Wynn Resorts, Limited (NASDAQ:WYNN) last announced its earnings results on Tuesday, July 25th. The casino operator reported $1.18 EPS for the quarter, beating the consensus estimate of $1.16 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.47 billion. Wynn Resorts, Limited had a return on equity of 165.77% and a net margin of 5.02%. The company’s revenue was up 44.5% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. Analysts predict that Wynn Resorts, Limited will post $4.90 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 22nd. Shareholders of record on Thursday, August 10th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $2.00 annualized dividend and a yield of 1.48%. Wynn Resorts, Limited’s dividend payout ratio is presently 74.91%.
A number of research analysts have recently weighed in on WYNN shares. Barclays PLC raised shares of Wynn Resorts, Limited from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $87.00 to $144.00 in a research report on Friday, May 12th. Vetr raised shares of Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $140.28 price objective for the company in a report on Thursday, June 29th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Wynn Resorts, Limited in a report on Wednesday, July 12th. 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. Finally, Morgan Stanley reissued an “overweight” rating and issued a $151.00 price target (up from $133.00) on shares of Wynn Resorts, Limited in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $126.99.
In other news, President Matt Maddox sold 44,309 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $134.35, for a total value of $5,952,914.15. Following the completion of the sale, the president now directly owns 344,895 shares in the company, valued at approximately $46,336,643.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kimmarie Sinatra sold 22,624 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $129.12, for a total value of $2,921,210.88. Following the completion of the sale, the executive vice president now owns 221,067 shares of the company’s stock, valued at $28,544,171.04. The disclosure for this sale can be found here. Insiders have sold a total of 69,933 shares of company stock worth $9,261,125 over the last 90 days. 13.20% of the stock is owned by company insiders.
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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