Envestnet Asset Management Inc. lifted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 8.2% in the third quarter, HoldingsChannel.com reports. The fund owned 3,843 shares of the casino operator’s stock after acquiring an additional 290 shares during the period. Envestnet Asset Management Inc.’s holdings in Wynn Resorts were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Commerzbank Aktiengesellschaft FI increased its position in Wynn Resorts by 8.7% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 69,273 shares of the casino operator’s stock worth $7,531,000 after buying an additional 5,560 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Wynn Resorts by 5.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,798 shares of the casino operator’s stock worth $739,000 after buying an additional 335 shares during the last quarter. DNB Asset Management AS purchased a new stake in Wynn Resorts in the third quarter worth $1,114,000. NuWave Investment Management LLC increased its position in Wynn Resorts by 12,415.8% in the third quarter. NuWave Investment Management LLC now owns 2,378 shares of the casino operator’s stock worth $254,000 after buying an additional 2,359 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Wynn Resorts by 9.3% in the third quarter. Pacer Advisors Inc. now owns 17,497 shares of the casino operator’s stock worth $1,902,000 after buying an additional 1,486 shares during the last quarter. 75.76% of the stock is owned by institutional investors.
A number of research firms have issued reports on WYNN. Barclays decreased their target price on Wynn Resorts from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Standpoint Research began coverage on Wynn Resorts in a research report on Wednesday, September 4th. They issued a “buy” rating for the company. Morgan Stanley raised their target price on Wynn Resorts from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. ValuEngine downgraded Wynn Resorts from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Finally, UBS Group reduced their price target 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $137.59.
Shares of NASDAQ WYNN opened at $118.84 on Thursday. The stock has a market cap of $13.58 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.76 and a beta of 2.07. Wynn Resorts, Limited has a fifty-two week low of $90.06 and a fifty-two week high of $151.50. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.05 and a current ratio of 1.09. The stock has a fifty day moving average of $115.60 and a 200-day moving average of $119.98.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Wednesday, November 6th. The casino operator reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.73). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.67 billion. Wynn Resorts had a net margin of 10.12% and a return on equity of 25.33%. Wynn Resorts’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.68 EPS. On average, sell-side analysts predict that Wynn Resorts, Limited will post 4.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.37%. The ex-dividend date is Wednesday, November 13th. Wynn Resorts’s dividend payout ratio is 61.16%.
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.
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