The Manufacturers Life Insurance Company lifted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 16.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,010 shares of the casino operator’s stock after buying an additional 14,597 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.10% of Wynn Resorts worth $6,381,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Samlyn Capital LLC bought a new stake in Wynn Resorts during the 1st quarter worth about $15,747,000. FDx Advisors Inc. bought a new stake in Wynn Resorts during the 1st quarter worth about $191,000. Cim Investment Mangement Inc. raised its holdings in Wynn Resorts by 3.6% during the 1st quarter. Cim Investment Mangement Inc. now owns 3,690 shares of the casino operator’s stock worth $222,000 after purchasing an additional 129 shares during the last quarter. HighTower Advisors LLC raised its holdings in Wynn Resorts by 9.1% during the 1st quarter. HighTower Advisors LLC now owns 4,813 shares of the casino operator’s stock worth $289,000 after purchasing an additional 400 shares during the last quarter. Finally, APG Asset Management N.V. raised its holdings in Wynn Resorts by 87.1% during the 1st quarter. APG Asset Management N.V. now owns 129,152 shares of the casino operator’s stock worth $7,774,000 after purchasing an additional 60,136 shares during the last quarter. 74.88% of the stock is owned by institutional investors and hedge funds.

Shares of WYNN opened at $77.32 on Friday. The company has a debt-to-equity ratio of 11.37, a quick ratio of 1.77 and a current ratio of 1.81. The stock has a 50 day simple moving average of $84.94 and a 200 day simple moving average of $100.03. Wynn Resorts, Limited has a 52-week low of $35.84 and a 52-week high of $153.41. The firm has a market capitalization of $8.34 billion, a PE ratio of -21.48 and a beta of 2.47.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Wednesday, May 6th. The casino operator reported ($3.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by ($2.49). Wynn Resorts had a negative net margin of 6.49% and a negative return on equity of 17.92%. The business had revenue of $953.70 million during the quarter, compared to analyst estimates of $887.81 million. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Wynn Resorts’s revenue for the quarter was down 42.2% compared to the same quarter last year. Equities research analysts predict that Wynn Resorts, Limited will post -11.69 EPS for the current fiscal year.

In related news, CFO Craig Scott Billings sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $84.77, for a total value of $508,620.00. Following the completion of the transaction, the chief financial officer now directly owns 84,287 shares in the company, valued at approximately $7,145,008.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is currently owned by insiders.

Several analysts have weighed in on WYNN shares. ValuEngine raised Wynn Resorts from a “hold” rating to a “buy” rating in a report on Tuesday, April 7th. Morgan Stanley dropped their price objective on Wynn Resorts from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Jefferies Financial Group dropped their price objective on Wynn Resorts from $100.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, May 7th. TheStreet lowered Wynn Resorts from a “c” rating to a “d+” rating in a research report on Tuesday, May 12th. Finally, Zacks Investment Research lowered Wynn Resorts from a “hold” rating to a “sell” rating and set a $65.00 target price for the company. in a research report on Saturday, April 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $110.56.

Wynn Resorts Profile

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: Lock-Up Period Expiration

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

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