Boston Partners reduced its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 49.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,164 shares of the casino operator’s stock after selling 5,945 shares during the quarter. Boston Partners’ holdings in Wynn Resorts were worth $670,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. State of Michigan Retirement System grew its stake in shares of Wynn Resorts by 0.4% in the third quarter. State of Michigan Retirement System now owns 23,270 shares of the casino operator’s stock worth $2,530,000 after acquiring an additional 100 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in Wynn Resorts by 27.1% in the 2nd quarter. Golden State Wealth Management LLC now owns 479 shares of the casino operator’s stock valued at $59,000 after purchasing an additional 102 shares during the period. World Asset Management Inc boosted its holdings in Wynn Resorts by 1.5% in the 3rd quarter. World Asset Management Inc now owns 7,242 shares of the casino operator’s stock valued at $787,000 after purchasing an additional 105 shares during the period. Cookson Peirce & Co. Inc. grew its position in Wynn Resorts by 2.6% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 4,290 shares of the casino operator’s stock worth $532,000 after purchasing an additional 110 shares during the last quarter. Finally, Northwest Investment Counselors LLC grew its position in Wynn Resorts by 1.5% in the 3rd quarter. Northwest Investment Counselors LLC now owns 7,798 shares of the casino operator’s stock worth $848,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 73.17% of the company’s stock.
In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $110.24, for a total transaction of $2,756,000.00. Following the sale, the chief executive officer now directly owns 432,731 shares of the company’s stock, valued at $47,704,265.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Craig Scott Billings sold 3,750 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $119.85, for a total transaction of $449,437.50. Following the sale, the chief financial officer now directly owns 66,451 shares in the company, valued at $7,964,152.35. The disclosure for this sale can be found here. Insiders sold 78,750 shares of company stock worth $9,199,688 over the last quarter. Company insiders own 0.58% of the company’s stock.
NASDAQ WYNN opened at $116.60 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.05 and a debt-to-equity ratio of 5.75. The stock’s 50 day moving average is $119.85 and its two-hundred day moving average is $118.03. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.69 and a beta of 2.08. Wynn Resorts, Limited has a 1-year low of $90.06 and a 1-year high of $151.50.
Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.73). The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.67 billion. Wynn Resorts had a return on equity of 25.33% and a net margin of 10.12%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 earnings per share. On average, analysts predict that Wynn Resorts, Limited will post 4.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Wednesday, November 13th. Wynn Resorts’s dividend payout ratio is 61.16%.
A number of research analysts have recently commented on WYNN shares. Morgan Stanley cut their price objective 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. Union Gaming Research downgraded Wynn Resorts from a “buy” rating to a “hold” rating and decreased their target price for the stock from $150.00 to $135.00 in a research report on Thursday, November 7th. BidaskClub upgraded Wynn Resorts from a “sell” rating to a “hold” rating in a research note on Saturday, October 12th. ValuEngine raised Wynn Resorts from a “sell” rating to a “hold” rating in a report on Monday, November 25th. Finally, UBS Group reduced their price objective on Wynn Resorts from $119.00 to $114.00 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $137.41.
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: Leveraged Buyout (LBO)
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