American Century Companies Inc. lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 99.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,140 shares of the casino operator’s stock after selling 858,441 shares during the period. American Century Companies Inc.’s holdings in Wynn Resorts were worth $573,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Wynn Resorts by 5.0% during the 4th quarter. BlackRock Inc. now owns 5,141,200 shares of the casino operator’s stock valued at $866,755,000 after purchasing an additional 242,948 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Wynn Resorts by 6.2% during the 4th quarter. TIAA CREF Investment Management LLC now owns 896,648 shares of the casino operator’s stock worth $151,166,000 after buying an additional 52,626 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Wynn Resorts by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 881,513 shares of the casino operator’s stock worth $148,308,000 after buying an additional 28,066 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Wynn Resorts by 2,549.2% during the 4th quarter. Two Sigma Investments LP now owns 457,621 shares of the casino operator’s stock worth $77,150,000 after buying an additional 440,347 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Wynn Resorts by 1,522.7% during the 4th quarter. Mackenzie Financial Corp now owns 371,560 shares of the casino operator’s stock worth $62,641,000 after buying an additional 348,662 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.
Several equities analysts have commented on the stock. BidaskClub cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Vetr cut shares of Wynn Resorts from a “strong-buy” rating to a “buy” rating and set a $195.00 target price on the stock. in a research report on Tuesday, April 10th. Morgan Stanley lifted their target price on shares of Wynn Resorts from $194.00 to $197.00 and gave the stock a “hold” rating in a research report on Tuesday, March 27th. Roth Capital raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Deutsche Bank dropped their target price on shares of Wynn Resorts from $221.00 to $215.00 and set a “buy” rating on the stock in a research report on Wednesday, March 14th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $199.00.
Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, April 24th. The casino operator reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.32. Wynn Resorts had a net margin of 6.75% and a return on equity of 101.01%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. research analysts predict that Wynn Resorts, Limited will post 8.59 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 29th. Shareholders of record on Thursday, May 17th were issued a dividend of $0.75 per share. This is a boost from Wynn Resorts’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, May 16th. This represents a $3.00 dividend on an annualized basis and a yield of 1.70%. Wynn Resorts’s payout ratio is presently 54.95%.
In other Wynn Resorts news, major shareholder Stephen A. Wynn sold 4,104,999 shares of the business’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $180.00, for a total transaction of $738,899,820.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Jos Miller sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $191.73, for a total transaction of $1,917,300.00. Following the sale, the director now directly owns 19,162 shares in the company, valued at approximately $3,673,930.26. The disclosure for this sale can be found here. Insiders have sold a total of 4,133,449 shares of company stock worth $744,342,731 in the last three months. Insiders own 0.95% of the company’s stock.
Wynn Resorts Company Profile
Wynn Resorts, Limited develops, 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 a total of 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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