Engineers Gate Manager LP cut its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 27.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,107 shares of the casino operator’s stock after selling 3,454 shares during the period. Engineers Gate Manager LP’s holdings in Wynn Resorts were worth $1,356,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. First Personal Financial Services lifted its stake in Wynn Resorts by 102.9% in the third quarter. First Personal Financial Services now owns 710 shares of the casino operator’s stock valued at $106,000 after purchasing an additional 360 shares during the last quarter. IFP Advisors Inc lifted its stake in Wynn Resorts by 40.8% in the second quarter. IFP Advisors Inc now owns 1,259 shares of the casino operator’s stock valued at $169,000 after purchasing an additional 365 shares during the last quarter. Hanseatic Management Services Inc. lifted its stake in Wynn Resorts by 808.1% in the second quarter. Hanseatic Management Services Inc. now owns 1,462 shares of the casino operator’s stock valued at $196,000 after purchasing an additional 1,301 shares during the last quarter. Meridian Investment Counsel Inc. purchased a new position in Wynn Resorts in the second quarter valued at approximately $201,000. Finally, Sun Life Financial INC lifted its stake in Wynn Resorts by 30,080.0% in the second quarter. Sun Life Financial INC now owns 1,509 shares of the casino operator’s stock valued at $203,000 after purchasing an additional 1,504 shares during the last quarter. 72.04% of the stock is owned by institutional investors.
Several equities analysts recently commented on WYNN shares. Deutsche Bank reiterated a “buy” rating and issued a $167.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 21st. Morgan Stanley upped their price objective on Wynn Resorts from $151.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. UBS reiterated a “buy” rating and issued a $174.00 price objective (up previously from $149.00) on shares of Wynn Resorts in a research note on Friday, September 29th. TheStreet downgraded Wynn Resorts from a “b-” rating to a “c+” rating in a research note on Friday, October 13th. Finally, Telsey Advisory Group upped their price objective on Wynn Resorts from $157.00 to $160.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $148.49.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, October 26th. The casino operator reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the business posted $0.74 earnings per share. The firm’s revenue was up 45.3% compared to the same quarter last year. analysts expect that Wynn Resorts, Limited will post 5.34 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 28th. Investors of record on Thursday, November 16th were given a $0.50 dividend. The ex-dividend date was Wednesday, November 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.22%. Wynn Resorts’s dividend payout ratio (DPR) is presently 55.40%.
In related news, Director Alvin V. Shoemaker sold 15,000 shares of the stock in a transaction on 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 owns 19,162 shares in the company, valued at $2,907,641.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Matt Maddox sold 42,900 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $143.44, for a total value of $6,153,576.00. Following the completion of the sale, the president now owns 350,586 shares in the company, valued at approximately $50,288,055.84. The disclosure for this sale can be found here. Insiders sold 159,406 shares of company stock worth $23,864,344 in the last quarter. 13.20% of the stock is currently owned by company insiders.
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Wynn Resorts Profile
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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