Raymond James Financial Services Advisors Inc. grew its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 60.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 88,380 shares of the casino operator’s stock after acquiring an additional 33,225 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.08% of Wynn Resorts worth $6,347,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in WYNN. Coatue Management LLC acquired a new stake in shares of Wynn Resorts in the 2nd quarter worth approximately $64,368,000. Atalanta Sosnoff Capital LLC acquired a new stake in Wynn Resorts in the second quarter worth approximately $36,539,000. Victory Capital Management Inc. boosted its stake in Wynn Resorts by 529.5% during the 2nd quarter. Victory Capital Management Inc. now owns 376,927 shares of the casino operator’s stock valued at $28,077,000 after purchasing an additional 317,046 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Wynn Resorts by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,526,953 shares of the casino operator’s stock valued at $784,153,000 after purchasing an additional 237,074 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Wynn Resorts in the 2nd quarter worth $16,255,000. 69.49% of the stock is owned by institutional investors.
In other Wynn Resorts news, CFO Craig Scott Billings sold 7,583 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $100.00, for a total transaction of $758,300.00. Following the transaction, the chief financial officer now directly owns 88,212 shares of the company’s stock, valued at $8,821,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ellen F. Whittemore sold 1,970 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $100.00, for a total value of $197,000.00. Following the completion of the sale, the executive vice president now directly owns 29,674 shares of the company’s stock, valued at approximately $2,967,400. The disclosure for this sale can be found here. Insiders sold 9,953 shares of company stock worth $991,516 in the last 90 days. 0.75% of the stock is currently owned by corporate insiders.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, November 5th. The casino operator reported ($7.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.19) by ($3.85). Wynn Resorts had a negative net margin of 25.71% and a negative return on equity of 96.61%. The firm had revenue of $370.50 million for the quarter, compared to analyst estimates of $434.48 million. During the same period in the previous year, the business posted $0.17 EPS. Wynn Resorts’s revenue for the quarter was down 77.5% on a year-over-year basis. On average, equities research analysts expect that Wynn Resorts, Limited will post -14.46 earnings per share for the current fiscal year.
Several equities research analysts have commented on the stock. ValuEngine upgraded shares of Wynn Resorts from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 1st. Jefferies Financial Group lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating and cut their target price for the company from $111.00 to $81.00 in a research note on Friday, October 16th. UBS Group decreased their price target on shares of Wynn Resorts from $85.00 to $83.00 and set a “neutral” rating on the stock in a research report on Thursday, August 27th. Barclays cut their price objective on Wynn Resorts from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Finally, Roth Capital cut Wynn Resorts from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $99.00 to $75.00 in a report on Wednesday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $103.13.
Wynn Resorts Company Profile
Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company's Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,011 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.
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