Metropolitan Life Insurance Co NY trimmed its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,707 shares of the casino operator’s stock after selling 1,159 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Wynn Resorts were worth $2,034,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WYNN. Man Group plc lifted its holdings in shares of Wynn Resorts by 49.8% during the 3rd quarter. Man Group plc now owns 8,179 shares of the casino operator’s stock valued at $889,000 after purchasing an additional 2,719 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Wynn Resorts in the third quarter worth $20,771,000. National Pension Service lifted its stake in shares of Wynn Resorts by 5.5% during the third quarter. National Pension Service now owns 136,789 shares of the casino operator’s stock worth $14,872,000 after buying an additional 7,141 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Wynn Resorts by 9.2% during the third quarter. Penserra Capital Management LLC now owns 1,215 shares of the casino operator’s stock worth $131,000 after buying an additional 102 shares during the period. Finally, Thor Advisors LLC acquired a new stake in shares of Wynn Resorts during the third quarter worth $860,000. Institutional investors own 73.17% of the company’s stock.

WYNN opened at $116.60 on Wednesday. Wynn Resorts, Limited has a fifty-two week low of $90.06 and a fifty-two week high of $151.50. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.05 and a current ratio of 1.09. The company has a fifty day moving average of $119.85 and a two-hundred day moving average of $118.03. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.69 and a beta of 2.08.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.73). Wynn Resorts had a return on equity of 25.33% and a net margin of 10.12%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the company earned $1.68 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Wynn Resorts, Limited will post 4.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, November 13th. This represents a $4.00 dividend on an annualized basis and a yield of 3.43%. Wynn Resorts’s dividend payout ratio is currently 61.16%.

Several research firms recently issued reports on WYNN. ValuEngine raised Wynn Resorts from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. lifted their price target on Wynn Resorts from $136.00 to $143.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Citigroup set a $141.00 price target on Wynn Resorts and gave the company a “buy” rating in a research note on Thursday, September 12th. BidaskClub upgraded shares of Wynn Resorts from a “sell” rating to a “hold” rating in a report on Saturday, October 12th. Finally, Morgan Stanley decreased their target price on shares of Wynn Resorts from $129.00 to $115.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $137.41.

In other news, CFO Craig Scott Billings sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $119.85, for a total transaction of $449,437.50. Following the completion of the transaction, the chief financial officer now directly owns 66,451 shares of the company’s stock, valued at approximately $7,964,152.35. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matt Maddox sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $110.24, for a total value of $2,756,000.00. Following the transaction, the chief executive officer now owns 432,731 shares in the company, valued at approximately $47,704,265.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,750 shares of company stock worth $9,199,688. 0.58% of the stock is owned by corporate insiders.

About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

Further Reading: Trade Deficit

Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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