Wynn Resorts, Limited $WYNN Shares Sold by Swiss National Bank

Swiss National Bank trimmed its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 38.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 162,000 shares of the casino operator’s stock after selling 101,200 shares during the quarter. Swiss National Bank’s holdings in Wynn Resorts were worth $15,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Wynn Resorts by 69.9% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 26,836 shares of the casino operator’s stock valued at $2,241,000 after purchasing an additional 11,038 shares during the period. Avantax Advisory Services Inc. lifted its stake in Wynn Resorts by 8.5% during the first quarter. Avantax Advisory Services Inc. now owns 8,054 shares of the casino operator’s stock valued at $673,000 after buying an additional 628 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Wynn Resorts by 10.2% in the first quarter. Pacer Advisors Inc. now owns 24,142 shares of the casino operator’s stock worth $2,016,000 after buying an additional 2,233 shares during the period. Empirical Finance LLC boosted its holdings in shares of Wynn Resorts by 8.6% in the first quarter. Empirical Finance LLC now owns 3,205 shares of the casino operator’s stock worth $268,000 after buying an additional 253 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Wynn Resorts by 2.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,956 shares of the casino operator’s stock worth $5,090,000 after acquiring an additional 1,229 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on WYNN. Macquarie upped their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday. Wells Fargo & Company began coverage on Wynn Resorts in a research report on Tuesday, November 18th. They issued an “overweight” rating and a $151.00 target price for the company. Barclays upped their price target on Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Jefferies Financial Group increased their price objective on Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $134.69.

Wynn Resorts Price Performance

Shares of WYNN opened at $129.46 on Thursday. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.23. The company’s fifty day moving average price is $123.46 and its 200 day moving average price is $111.13. The company has a market capitalization of $13.46 billion, a PE ratio of 38.88, a price-to-earnings-growth ratio of 4.94 and a beta of 1.32.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, November 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts’s payout ratio is presently 22.37%.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director owned 3,066 shares in the company, valued at approximately $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.