IFM Investors Pty Ltd Purchases Shares of 2,168 Wynn Resorts, Limited (WYNN)
IFM Investors Pty Ltd purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,168 shares of the casino operator’s stock, valued at approximately $323,000.
A number of other institutional investors have also modified their holdings of the stock. Neuberger Berman Group LLC purchased a new stake in Wynn Resorts in the third quarter worth $234,000. Alkeon Capital Management LLC purchased a new stake in Wynn Resorts in the third quarter worth $4,468,000. California Public Employees Retirement System increased its position in Wynn Resorts by 1.9% in the third quarter. California Public Employees Retirement System now owns 192,140 shares of the casino operator’s stock worth $28,613,000 after buying an additional 3,640 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Wynn Resorts by 20.7% in the third quarter. Janney Montgomery Scott LLC now owns 25,936 shares of the casino operator’s stock worth $3,862,000 after buying an additional 4,456 shares during the last quarter. Finally, Davidson Kempner Capital Management LP increased its position in Wynn Resorts by 11.8% in the third quarter. Davidson Kempner Capital Management LP now owns 237,500 shares of the casino operator’s stock worth $35,371,000 after buying an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 72.04% of the company’s stock.
In other Wynn Resorts news, EVP Kimmarie Sinatra sold 20,795 shares of Wynn Resorts stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $152.03, for a total transaction of $3,161,463.85. Following the completion of the sale, the executive vice president now owns 226,992 shares of the company’s stock, valued at $34,509,593.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alvin V. Shoemaker sold 15,000 shares of Wynn Resorts stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $151.74, for a total value of $2,276,100.00. Following the sale, the director now directly owns 19,162 shares of the company’s stock, valued at approximately $2,907,641.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,055 shares of company stock valued at $14,629,975. Corporate insiders own 13.20% of the company’s stock.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, October 26th. The casino operator reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.24. Wynn Resorts had a return on equity of 132.96% and a net margin of 6.24%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s revenue was up 45.3% compared to the same quarter last year. sell-side analysts forecast that Wynn Resorts, Limited will post 5.34 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 28th. Shareholders of record on Thursday, November 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Wednesday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is currently 55.40%.
WYNN has been the subject of a number of recent research reports. Stifel Nicolaus raised their target price on Wynn Resorts from $134.00 to $153.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. TheStreet downgraded Wynn Resorts from a “b-” rating to a “c+” rating in a research report on Friday, October 13th. Barclays raised their target price on Wynn Resorts to $180.00 and gave the stock an “overweight” rating in a research report on Thursday. Telsey Advisory Group raised their target price on Wynn Resorts from $157.00 to $160.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $162.00 target price for the company in a research report on Tuesday, September 26th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Wynn Resorts presently has an average rating of “Buy” and an average price target of $150.05.
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About Wynn Resorts
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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