Marathon Asset Management LLP Buys New Stake in Wynn Resorts, Limited (WYNN)

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Marathon Asset Management LLP bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 157,579 shares of the casino operator’s stock, valued at approximately $20,022,000. Marathon Asset Management LLP owned 0.15% of Wynn Resorts as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in WYNN. BlackRock Inc. lifted its position in shares of Wynn Resorts by 12.6% during the 2nd quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock worth $957,788,000 after buying an additional 641,845 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Wynn Resorts by 15.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,010,495 shares of the casino operator’s stock worth $169,096,000 after buying an additional 136,113 shares during the last quarter. Northern Trust Corp lifted its position in shares of Wynn Resorts by 7.8% during the 2nd quarter. Northern Trust Corp now owns 1,005,497 shares of the casino operator’s stock worth $168,260,000 after buying an additional 73,166 shares during the last quarter. Putnam Investments LLC lifted its position in shares of Wynn Resorts by 34.9% during the 2nd quarter. Putnam Investments LLC now owns 761,801 shares of the casino operator’s stock worth $127,480,000 after buying an additional 197,228 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Wynn Resorts by 8.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 735,421 shares of the casino operator’s stock worth $123,065,000 after buying an additional 58,243 shares during the last quarter. Hedge funds and other institutional investors own 75.23% of the company’s stock.

Several analysts recently weighed in on WYNN shares. Stifel Nicolaus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $209.00 to $207.00 in a research report on Tuesday, July 10th. Nomura dropped their price objective on Wynn Resorts from $220.00 to $181.00 and set a “buy” rating for the company in a research report on Monday, July 9th. BidaskClub upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Tuesday, July 17th. Jefferies Financial Group restated a “buy” rating on shares of Wynn Resorts in a research report on Wednesday, August 1st. Finally, Argus downgraded Wynn Resorts from a “buy” rating to a “hold” rating and set a $135.00 price objective for the company. in a research report on Tuesday, August 7th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $185.11.

Shares of WYNN stock opened at $109.30 on Tuesday. The stock has a market capitalization of $12.13 billion, a PE ratio of 20.02, a P/E/G ratio of 0.76 and a beta of 1.56. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 4.47. Wynn Resorts, Limited has a 1-year low of $92.50 and a 1-year high of $203.63.

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Wynn Resorts Profile

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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