Prudential Financial Inc. boosted its position in Wynn Resorts Ltd. (NASDAQ:WYNN) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,709 shares of the casino operator’s stock after buying an additional 12,630 shares during the period. Prudential Financial Inc. owned about 0.11% of Wynn Resorts worth $10,306,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Euclid Advisors LLC increased its position in shares of Wynn Resorts by 7,331.2% in the first quarter. Euclid Advisors LLC now owns 286,846 shares of the casino operator’s stock worth $26,800,000 after buying an additional 282,986 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Wynn Resorts by 3.1% in the second quarter. Alps Advisors Inc. now owns 262,208 shares of the casino operator’s stock worth $23,767,000 after buying an additional 7,960 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new position in shares of Wynn Resorts during the first quarter worth about $44,826,000. Pacific Heights Asset Management LLC increased its position in shares of Wynn Resorts by 19.2% in the second quarter. Pacific Heights Asset Management LLC now owns 155,000 shares of the casino operator’s stock worth $14,049,000 after buying an additional 25,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Wynn Resorts by 2.6% in the first quarter. Geode Capital Management LLC now owns 685,308 shares of the casino operator’s stock worth $63,903,000 after buying an additional 17,611 shares during the last quarter. 74.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Wynn Resorts Ltd. (NASDAQ:WYNN) traded up 1.056% during midday trading on Wednesday, reaching $97.398. 663,026 shares of the company traded hands. Wynn Resorts Ltd. has a 1-year low of $49.95 and a 1-year high of $109.50. The stock has a market capitalization of $9.88 billion, a P/E ratio of 30.136 and a beta of 1.85. The stock’s 50-day moving average is $98.44 and its 200-day moving average is $96.20.
Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.16. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Wynn Resorts had a net margin of 7.67% and a return on equity of 3,746.24%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. Equities analysts predict that Wynn Resorts Ltd. will post $3.81 EPS for the current fiscal year.
A number of analysts recently commented on WYNN shares. Deutsche Bank AG reiterated a “hold” rating on shares of Wynn Resorts in a research note on Friday, September 16th. Credit Agricole SA reiterated an “underperform” rating and issued a $97.00 target price on shares of Wynn Resorts in a research note on Wednesday, August 24th. Vetr upgraded shares of Wynn Resorts from a “buy” rating to a “strong-buy” rating and set a $101.61 target price for the company in a research note on Monday, July 4th. Nomura cut shares of Wynn Resorts from a “neutral” rating to a “reduce” rating and lifted their target price for the stock from $78.00 to $83.00 in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. cut shares of Wynn Resorts from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $101.00 to $94.00 in a research note on Thursday, July 14th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $99.91.
Wynn Resorts Company Profile
Wynn Resorts, Limited 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 operates through two segments: Macau Operations and Las Vegas Operations.
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