Russell Investments Group Ltd. lifted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 16.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,140 shares of the casino operator’s stock after acquiring an additional 9,437 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Wynn Resorts worth $11,974,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Silvant Capital Management LLC acquired a new stake in shares of Wynn Resorts in the first quarter worth $104,000. Synovus Financial Corp acquired a new stake in shares of Wynn Resorts in the first quarter worth $147,000. Smithfield Trust Co. increased its position in shares of Wynn Resorts by 1,818.2% in the first quarter. Smithfield Trust Co. now owns 1,055 shares of the casino operator’s stock worth $193,000 after acquiring an additional 1,000 shares in the last quarter. Miles Capital Inc. acquired a new stake in shares of Wynn Resorts in the first quarter worth $202,000. Finally, Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Wynn Resorts in the first quarter worth $211,000. 76.48% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Wynn Resorts from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 21st. Citigroup lowered their price target on shares of Wynn Resorts to $215.00 and set a “buy” rating for the company in a report on Monday, June 4th. ValuEngine raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Vetr lowered shares of Wynn Resorts from a “strong-buy” rating to a “buy” rating and set a $211.61 price target for the company. in a report on Monday, March 12th. Finally, Stifel Nicolaus raised their price target on shares of Wynn Resorts from $186.00 to $209.00 and gave the company a “hold” rating in a report on Wednesday, April 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $199.00.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, April 24th. The casino operator reported $2.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.32. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.75 billion. Wynn Resorts had a net margin of 6.75% and a return on equity of 101.01%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the business earned $1.24 EPS. equities analysts forecast that Wynn Resorts, Limited will post 8.59 earnings per share for the current fiscal year.
The business also recently disclosed 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 positive change from Wynn Resorts’s previous quarterly dividend of $0.50. This represents a $3.00 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Wednesday, May 16th. Wynn Resorts’s dividend payout ratio (DPR) is currently 54.95%.
In other Wynn Resorts news, Director Robert Jos Miller sold 10,000 shares of the firm’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 completion of the transaction, the director now directly owns 19,162 shares of the company’s stock, valued at approximately $3,673,930.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matt Maddox sold 18,450 shares of the firm’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $191.09, for a total transaction of $3,525,610.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,133,449 shares of company stock valued at $744,342,731. 0.95% of the stock is owned by company insiders.
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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