GSA Capital Partners LLP purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,747 shares of the casino operator’s stock, valued at approximately $1,413,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp increased its position in shares of Wynn Resorts by 1,522.7% in the fourth quarter. Mackenzie Financial Corp now owns 371,560 shares of the casino operator’s stock valued at $62,641,000 after acquiring an additional 348,662 shares during the last quarter. Virtue Capital Management LLC acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at about $549,000. The Manufacturers Life Insurance Company increased its position in shares of 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 valued at $15,714,000 after acquiring an additional 7,965 shares during the last quarter. BlackRock Inc. increased its position in shares of Wynn Resorts by 5.0% in the fourth quarter. BlackRock Inc. now owns 5,141,200 shares of the casino operator’s stock valued at $866,755,000 after acquiring an additional 242,948 shares during the last quarter. Finally, Scotia Capital Inc. increased its position in shares of Wynn Resorts by 4.4% in the fourth quarter. Scotia Capital Inc. now owns 22,871 shares of the casino operator’s stock valued at $3,857,000 after acquiring an additional 961 shares during the last quarter. 76.22% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Matt Maddox sold 18,450 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Jos Miller sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $191.73, for a total value of $1,917,300.00. Following the sale, the director now owns 19,162 shares of the company’s stock, valued at approximately $3,673,930.26. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
A number of analysts recently issued reports on WYNN shares. Union Gaming Research raised Wynn Resorts from a “hold” rating to a “buy” rating and lifted their target price for the company from $170.00 to $205.00 in a research report on Friday, March 23rd. BidaskClub downgraded Wynn Resorts from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 6th. Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Tuesday, March 6th. Deutsche Bank reaffirmed a “buy” rating and issued a $219.00 target price on shares of Wynn Resorts in a research report on Sunday, April 29th. Finally, ValuEngine downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $202.65.
Wynn Resorts stock opened at $170.14 on Friday. Wynn Resorts, Limited has a 52 week low of $124.11 and a 52 week high of $203.63. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.17 and a quick ratio of 1.13. The stock has a market cap of $18.68 billion, a P/E ratio of 31.16 and a beta of 1.40.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, April 24th. The casino operator reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.32. Wynn Resorts had a return on equity of 101.01% and a net margin of 6.75%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the company posted $1.24 earnings per share. Wynn Resorts’s quarterly revenue was up 20.5% on a year-over-year basis. sell-side analysts predict that Wynn Resorts, Limited will post 8.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 29th. Stockholders of record on Thursday, May 17th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Wednesday, May 16th. This is a boost from Wynn Resorts’s previous quarterly dividend of $0.50. Wynn Resorts’s payout ratio is currently 54.95%.
About Wynn Resorts
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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