American Century Companies Inc. lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 99.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,140 shares of the casino operator’s stock after selling 858,441 shares during the period. American Century Companies Inc.’s holdings in Wynn Resorts were worth $573,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Zions Bancorporation purchased a new stake in Wynn Resorts in the 1st quarter valued at about $282,000. Advisor Partners LLC raised its holdings in Wynn Resorts by 27.7% in the 1st quarter. Advisor Partners LLC now owns 2,962 shares of the casino operator’s stock valued at $540,000 after buying an additional 643 shares during the period. Mackay Shields LLC purchased a new stake in Wynn Resorts in the 1st quarter valued at about $40,358,000. DekaBank Deutsche Girozentrale raised its holdings in Wynn Resorts by 61.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,566 shares of the casino operator’s stock valued at $1,778,000 after buying an additional 3,640 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Wynn Resorts by 141.9% in the 1st quarter. SG Americas Securities LLC now owns 13,177 shares of the casino operator’s stock valued at $2,403,000 after buying an additional 7,730 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.
In other news, Director Robert Jos Miller sold 10,000 shares of the company’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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Stephen A. Wynn sold 4,104,999 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $180.00, for a total value of $738,899,820.00. The disclosure for this sale can be found here. In the last quarter, insiders 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 traded down $0.17, reaching $176.25, on Thursday, according to MarketBeat Ratings. The company’s stock had a trading volume of 2,436,859 shares, compared to its average volume of 3,508,679. The company has a quick ratio of 1.13, a current ratio of 1.17 and a debt-to-equity ratio of 11.97. The company has a market capitalization of $19.63 billion, a price-to-earnings ratio of 32.28 and a beta of 1.40. Wynn Resorts, Limited has a fifty-two week low of $124.11 and a fifty-two week high of $203.63.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, April 24th. The casino operator reported $2.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.32. Wynn Resorts had a return on equity of 101.01% and a net margin of 6.75%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the company posted $1.24 earnings per share. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. equities analysts anticipate that Wynn Resorts, Limited will post 8.59 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 29th. Shareholders of record on Thursday, May 17th were paid a $0.75 dividend. The ex-dividend date was Wednesday, May 16th. This represents a $3.00 dividend on an annualized basis and a yield of 1.70%. This is a boost from Wynn Resorts’s previous quarterly dividend of $0.50. Wynn Resorts’s payout ratio is currently 54.95%.
Several brokerages recently issued reports on WYNN. BidaskClub lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Vetr lowered shares of Wynn Resorts from a “strong-buy” rating to a “buy” rating and set a $195.00 price target on the stock. in a research note on Tuesday, April 10th. Morgan Stanley boosted their price target on shares of Wynn Resorts from $194.00 to $197.00 and gave the stock a “hold” rating in a research note on Tuesday, March 27th. Roth Capital upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Deutsche Bank cut their price target on shares of Wynn Resorts from $221.00 to $215.00 and set a “buy” rating on the stock in a research note on Wednesday, March 14th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $199.00.
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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