Wells Fargo & Company MN lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 105.2% during the first quarter, HoldingsChannel reports. The firm owned 373,352 shares of the casino operator’s stock after acquiring an additional 191,392 shares during the quarter. Wells Fargo & Company MN’s holdings in Wynn Resorts were worth $44,548,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in WYNN. Egerton Capital UK LLP increased its holdings in shares of Wynn Resorts by 201.7% during the 1st quarter. Egerton Capital UK LLP now owns 2,303,387 shares of the casino operator’s stock worth $274,840,000 after acquiring an additional 1,539,927 shares during the last quarter. Norges Bank acquired a new position in Wynn Resorts in the 4th quarter valued at $95,365,000. Pennsylvania Trust Co acquired a new position in Wynn Resorts in the 1st quarter valued at $30,201,000. Vanguard Group Inc grew its holdings in Wynn Resorts by 4.6% in the 3rd quarter. Vanguard Group Inc now owns 9,850,529 shares of the casino operator’s stock valued at $1,251,608,000 after buying an additional 431,304 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Wynn Resorts by 114.4% in the 1st quarter. SG Americas Securities LLC now owns 37,171 shares of the casino operator’s stock valued at $4,435,000 after buying an additional 295,863 shares in the last quarter. Institutional investors own 77.51% of the company’s stock.
Shares of WYNN traded down $3.56 during trading hours on Wednesday, hitting $114.59. 48,319 shares of the company were exchanged, compared to its average volume of 2,204,447. The firm has a market cap of $12.39 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 1.79 and a beta of 1.88. Wynn Resorts, Limited has a fifty-two week low of $90.06 and a fifty-two week high of $183.15. The company has a debt-to-equity ratio of 4.84, a quick ratio of 1.16 and a current ratio of 1.19.
Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, May 9th. The casino operator reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.02. Wynn Resorts had a return on equity of 35.83% and a net margin of 13.43%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm posted $2.30 EPS. Wynn Resorts’s quarterly revenue was down 3.8% on a year-over-year basis. On average, research analysts predict that Wynn Resorts, Limited will post 6.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Wednesday, May 22nd were given a dividend of $1.00 per share. This is an increase from Wynn Resorts’s previous quarterly dividend of $0.75. This represents a $4.00 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Tuesday, May 21st. Wynn Resorts’s dividend payout ratio is currently 61.16%.
A number of research analysts have commented on the company. Nomura decreased their price objective on Wynn Resorts from $146.00 to $142.00 and set a “buy” rating on the stock in a report on Friday, May 10th. BidaskClub raised Wynn Resorts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Bank of America reaffirmed a “neutral” rating and issued a $150.00 price objective (up from $145.00) on shares of Wynn Resorts in a report on Wednesday, April 17th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the company from $119.00 to $170.00 in a report on Monday, April 8th. Finally, Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Wynn Resorts presently has an average rating of “Hold” and a consensus target price of $147.75.
Wynn Resorts Company 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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