American International Group Inc. Reduces Position in Wynn Resorts, Limited (WYNN)
American International Group Inc. lessened its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 9.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,647 shares of the casino operator’s stock after selling 3,171 shares during the quarter. American International Group Inc.’s holdings in Wynn Resorts were worth $4,415,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. First Personal Financial Services raised its holdings 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 during the last quarter. IFP Advisors Inc grew its position in shares of 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 buying an additional 365 shares during the period. Hanseatic Management Services Inc. grew its position in shares of 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 buying an additional 1,301 shares during the period. Meridian Investment Counsel Inc. acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth approximately $201,000. Finally, Sun Life Financial INC grew its position in shares of 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 buying an additional 1,504 shares during the period. Institutional investors and hedge funds own 72.04% of the company’s stock.
WYNN has been the subject of several recent analyst reports. Deutsche Bank reaffirmed a “buy” rating and set a $167.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 21st. Morgan Stanley raised their price objective on shares of Wynn Resorts from $151.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. UBS reaffirmed a “buy” rating and set a $174.00 price objective (up previously from $149.00) on shares of Wynn Resorts in a research report on Friday, September 29th. TheStreet downgraded shares of Wynn Resorts from a “b-” rating to a “c+” rating in a research report on Friday, October 13th. Finally, Telsey Advisory Group raised their price objective on shares of Wynn Resorts from $157.00 to $160.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $148.49.
In other news, Director Alvin V. Shoemaker sold 15,000 shares of Wynn Resorts 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 sale, the director now directly owns 19,162 shares in the company, valued at approximately $2,907,641.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Matt Maddox sold 42,900 shares of Wynn Resorts stock in a transaction on Friday, September 15th. The stock was sold at an average price of $143.44, for a total value of $6,153,576.00. Following the sale, the president now owns 350,586 shares in the company, valued at $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 worth $23,864,344 over the last ninety days. Insiders own 13.20% of the company’s stock.
Wynn Resorts, Limited (NASDAQ WYNN) opened at $159.45 on Wednesday. The company has a debt-to-equity ratio of 24.54, a quick ratio of 1.68 and a current ratio of 1.72. The stock has a market cap of $16,246.83, a price-to-earnings ratio of 35.60 and a beta of 1.73. Wynn Resorts, Limited has a fifty-two week low of $85.57 and a fifty-two week high of $160.97.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, October 26th. The casino operator reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.24. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.56 billion. Wynn Resorts had a net margin of 6.24% and a return on equity of 132.96%. The business’s revenue for the quarter was up 45.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS. sell-side analysts anticipate that Wynn Resorts, Limited will post 5.34 earnings per share for the current fiscal year.
The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Wednesday, November 15th. Wynn Resorts’s dividend payout ratio is 55.25%.
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Wynn Resorts Profile
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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