TD Asset Management Inc. cut its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,401 shares of the casino operator’s stock after selling 1,619 shares during the quarter. TD Asset Management Inc.’s holdings in Wynn Resorts were worth $4,081,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. First Personal Financial Services increased its stake in Wynn Resorts by 102.9% during the 3rd quarter. First Personal Financial Services now owns 710 shares of the casino operator’s stock worth $106,000 after purchasing an additional 360 shares in the last quarter. IFP Advisors Inc increased its stake in Wynn Resorts by 40.8% during the 2nd quarter. IFP Advisors Inc now owns 1,259 shares of the casino operator’s stock worth $169,000 after purchasing an additional 365 shares in the last quarter. Hanseatic Management Services Inc. increased its stake in Wynn Resorts by 808.1% during the 2nd quarter. Hanseatic Management Services Inc. now owns 1,462 shares of the casino operator’s stock worth $196,000 after purchasing an additional 1,301 shares in the last quarter. Meridian Investment Counsel Inc. bought a new stake in Wynn Resorts during the 2nd quarter worth approximately $201,000. Finally, Sun Life Financial INC increased its stake in Wynn Resorts by 30,080.0% during the 2nd quarter. Sun Life Financial INC now owns 1,509 shares of the casino operator’s stock worth $203,000 after purchasing an additional 1,504 shares in the last quarter. 72.04% of the stock is owned by institutional investors and hedge funds.
In other Wynn Resorts news, Director Alvin V. Shoemaker sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $151.74, for a total transaction of $2,276,100.00. Following the completion of the sale, the director now owns 19,162 shares of the company’s stock, valued at approximately $2,907,641.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Matt Maddox sold 42,900 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $143.44, for a total value of $6,153,576.00. Following the sale, the president now directly owns 350,586 shares of the company’s stock, valued at approximately $50,288,055.84. The disclosure for this sale can be found here. Insiders have sold a total of 159,406 shares of company stock valued at $23,864,344 in the last ninety days. Insiders own 13.20% of the company’s stock.
A number of research firms recently issued reports on WYNN. Barclays increased their target price on Wynn Resorts from $148.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Citigroup upped their price target on Wynn Resorts to $161.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $162.00 price target for the company in a research report on Tuesday, September 26th. Stifel Nicolaus upped their price target on Wynn Resorts from $134.00 to $153.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $157.00 price target (up previously from $150.00) on shares of Wynn Resorts in a research report on Monday, October 2nd. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $148.49.
Shares of Wynn Resorts, Limited (NASDAQ WYNN) opened at $157.85 on Thursday. The company has a market capitalization of $16,246.83, a P/E ratio of 35.60 and a beta of 1.73. The company has a quick ratio of 1.68, a current ratio of 1.72 and a debt-to-equity ratio of 24.54. Wynn Resorts, Limited has a twelve month low of $85.57 and a twelve month high of $160.97.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, October 26th. The casino operator reported $1.52 EPS for the quarter, beating the consensus estimate of $1.28 by $0.24. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.56 billion. Wynn Resorts had a return on equity of 132.96% and a net margin of 6.24%. The firm’s revenue for the quarter was up 45.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. analysts forecast that Wynn Resorts, Limited will post 5.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 28th. Shareholders of record on Thursday, November 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.27%. The ex-dividend date was Wednesday, November 15th. Wynn Resorts’s dividend payout ratio is 55.25%.
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About Wynn Resorts
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
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