Russell Investments Group Ltd. lifted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 16.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,140 shares of the casino operator’s stock after buying an additional 9,437 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of Wynn Resorts worth $11,974,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of WYNN. Mackenzie Financial Corp grew its holdings in Wynn Resorts by 1,522.7% in the fourth quarter. Mackenzie Financial Corp now owns 371,560 shares of the casino operator’s stock worth $62,641,000 after purchasing an additional 348,662 shares during the period. Virtue Capital Management LLC acquired a new stake in Wynn Resorts in the fourth quarter worth $549,000. The Manufacturers Life Insurance Company grew its holdings in Wynn Resorts by 9.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 93,205 shares of the casino operator’s stock worth $15,714,000 after purchasing an additional 7,965 shares during the period. BlackRock Inc. grew its holdings in Wynn Resorts by 5.0% in the fourth quarter. BlackRock Inc. now owns 5,141,200 shares of the casino operator’s stock worth $866,755,000 after purchasing an additional 242,948 shares during the period. Finally, Scotia Capital Inc. grew its holdings in Wynn Resorts by 4.4% in the fourth quarter. Scotia Capital Inc. now owns 22,871 shares of the casino operator’s stock worth $3,857,000 after purchasing an additional 961 shares during the period. Institutional investors own 76.22% of the company’s stock.
In related news, Director Robert Jos Miller sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 19,162 shares in the company, valued at $3,673,930.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matt Maddox sold 18,450 shares of the firm’s stock in a transaction dated 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. 0.95% of the stock is owned by company insiders.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Tuesday, April 24th. The casino operator reported $2.30 earnings per share 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 company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the firm earned $1.24 earnings per share. The firm’s revenue was up 20.5% on a year-over-year basis. equities research analysts expect that Wynn Resorts, Limited will post 8.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 29th. Investors of record on Thursday, May 17th were given 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 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Wednesday, May 16th. Wynn Resorts’s dividend payout ratio (DPR) is presently 54.95%.
A number of equities research analysts have commented on the stock. Morgan Stanley restated a “hold” rating and issued a $194.00 price target (up from $193.00) on shares of Wynn Resorts in a report on Thursday, March 15th. Nomura raised their price target on shares of Wynn Resorts from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, April 25th. Zacks Investment Research cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Deutsche Bank reduced their price target on shares of Wynn Resorts from $221.00 to $215.00 and set a “buy” rating for the company in a report on Wednesday, March 14th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $200.00 price target on shares of Wynn Resorts in a report on Thursday, March 8th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Wynn Resorts has an average rating of “Buy” and a consensus price target of $202.65.
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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