Wynn Resorts, Limited (WYNN) Position Decreased by David R. Rahn & Associates Inc.

David R. Rahn & Associates Inc. lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 30.9% during the second quarter, Holdings Channel reports. The firm owned 12,086 shares of the casino operator’s stock after selling 5,414 shares during the period. David R. Rahn & Associates Inc.’s holdings in Wynn Resorts, Limited were worth $1,621,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Wynn Resorts, Limited by 5,076.4% in the first quarter. BlackRock Inc. now owns 4,945,920 shares of the casino operator’s stock worth $566,852,000 after buying an additional 4,850,373 shares in the last quarter. OZ Management LP raised its stake in Wynn Resorts, Limited by 24.8% in the first quarter. OZ Management LP now owns 2,132,012 shares of the casino operator’s stock valued at $244,350,000 after buying an additional 423,658 shares in the last quarter. American Century Companies Inc. raised its stake in Wynn Resorts, Limited by 76.6% in the first quarter. American Century Companies Inc. now owns 856,721 shares of the casino operator’s stock valued at $98,189,000 after buying an additional 371,701 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Wynn Resorts, Limited by 142.5% in the first quarter. TIAA CREF Investment Management LLC now owns 599,398 shares of the casino operator’s stock valued at $68,697,000 after buying an additional 352,191 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Wynn Resorts, Limited by 134.1% in the first quarter. Wellington Management Group LLP now owns 565,881 shares of the casino operator’s stock valued at $64,855,000 after buying an additional 324,175 shares in the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock.

Shares of Wynn Resorts, Limited (NASDAQ WYNN) opened at 125.95 on Thursday. The company has a market capitalization of $12.84 billion, a price-to-earnings ratio of 47.14 and a beta of 1.72. Wynn Resorts, Limited has a 1-year low of $82.51 and a 1-year high of $139.67. The stock’s 50 day moving average price is $133.80 and its 200 day moving average price is $117.30.

Wynn Resorts, Limited (NASDAQ:WYNN) last issued its earnings results on Tuesday, July 25th. The casino operator reported $1.18 EPS for the quarter, beating the consensus estimate of $1.16 by $0.02. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Wynn Resorts, Limited had a net margin of 5.02% and a return on equity of 205.76%. The business’s revenue for the quarter was up 44.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. Analysts expect that Wynn Resorts, Limited will post $4.92 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Thursday, August 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, August 8th. Wynn Resorts, Limited’s dividend payout ratio (DPR) is 74.91%.

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Several research firms have commented on WYNN. UBS AG lowered Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Stifel Nicolaus reissued a “hold” rating and issued a $134.00 price objective (up from $128.00) on shares of Wynn Resorts, Limited in a research note on Wednesday, July 26th. Telsey Advisory Group downgraded Wynn Resorts, Limited from an “outperform” rating to a “market perform” rating and set a $150.00 price objective for the company. in a research note on Wednesday, July 26th. Union Gaming Research reissued a “hold” rating on shares of Wynn Resorts, Limited in a research note on Wednesday, July 26th. Finally, Instinet reaffirmed a “neutral” rating and issued a $137.00 target price (up from $130.00) on shares of Wynn Resorts, Limited in a research note on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Wynn Resorts, Limited presently has an average rating of “Hold” and an average price target of $125.62.

In other news, Director Clark T. Jr. Randt sold 3,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $129.00, for a total value of $387,000.00. Following the completion of the transaction, the director now owns 7,711 shares of the company’s stock, valued at approximately $994,719. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patricia Mulroy sold 2,226 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $128.08, for a total transaction of $285,106.08. Following the completion of the transaction, the director now directly owns 8,011 shares of the company’s stock, valued at approximately $1,026,048.88. The disclosure for this sale can be found here. Insiders sold a total of 73,309 shares of company stock valued at $9,693,891 in the last three months. 13.20% of the stock is owned by company insiders.

Wynn Resorts, Limited Company 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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