Advisors Asset Management Inc. Trims Stake in Wynn Resorts, Limited (WYNN)

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Advisors Asset Management Inc. lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,130 shares of the casino operator’s stock after selling 1,681 shares during the quarter. Advisors Asset Management Inc.’s holdings in Wynn Resorts were worth $2,177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WYNN. Oppenheimer & Co. Inc. lifted its holdings in shares of Wynn Resorts by 8.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 5,463 shares of the casino operator’s stock worth $914,000 after buying an additional 422 shares during the period. Stratos Wealth Partners LTD. lifted its stake in shares of Wynn Resorts by 21.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,567 shares of the casino operator’s stock worth $326,000 after purchasing an additional 450 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Wynn Resorts by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 14,140 shares of the casino operator’s stock worth $1,797,000 after purchasing an additional 453 shares during the last quarter. Coastline Trust Co lifted its stake in shares of Wynn Resorts by 6.3% during the 3rd quarter. Coastline Trust Co now owns 7,905 shares of the casino operator’s stock worth $1,004,000 after purchasing an additional 470 shares during the last quarter. Finally, Global X Management Co LLC raised its stake in Wynn Resorts by 19.7% in the second quarter. Global X Management Co LLC now owns 2,980 shares of the casino operator’s stock valued at $499,000 after buying an additional 490 shares during the last quarter. 75.02% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Philip G. Satre acquired 9,800 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, November 13th. The shares were purchased at an average price of $103.01 per share, for a total transaction of $1,009,498.00. Following the completion of the transaction, the director now owns 100 shares in the company, valued at approximately $10,301. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.95% of the company’s stock.

A number of research firms have commented on WYNN. BidaskClub upgraded Wynn Resorts from a “sell” rating to a “hold” rating in a research note on Monday. ValuEngine raised Wynn Resorts from a “strong sell” rating to a “sell” rating in a report on Monday, November 26th. Bank of America cut their price objective on Wynn Resorts from $125.00 to $114.00 and set a “neutral” rating on the stock in a report on Thursday, November 8th. Sanford C. Bernstein initiated coverage on Wynn Resorts in a report on Thursday, November 15th. They issued an “outperform” rating on the stock. Finally, Credit Suisse Group dropped their target price on Wynn Resorts from $119.00 to $104.00 and set a “neutral” rating on the stock in a report on Thursday, November 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Wynn Resorts presently has a consensus rating of “Hold” and an average price target of $163.63.

Shares of NASDAQ WYNN traded up $2.15 during midday trading on Friday, hitting $113.55. The stock had a trading volume of 1,767,055 shares, compared to its average volume of 2,741,153. The company has a market cap of $12.44 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44. Wynn Resorts, Limited has a 1 year low of $90.06 and a 1 year high of $203.63. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.14 and a quick ratio of 1.11.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Wednesday, November 7th. The casino operator reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.01). Wynn Resorts had a net margin of 8.92% and a return on equity of 56.04%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the business earned $1.52 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 6.8 EPS for the current fiscal year.

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Wynn Resorts Profile

Wynn Resorts, Limited 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 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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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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