BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 56.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,644 shares of the casino operator’s stock after selling 36,255 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Wynn Resorts were worth $4,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Silvant Capital Management LLC acquired a new stake in shares of Wynn Resorts during the first quarter valued at $104,000. Steward Partners Investment Advisory LLC lifted its position in Wynn Resorts by 115.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 614 shares of the casino operator’s stock worth $103,000 after buying an additional 329 shares during the period. North Star Investment Management Corp. purchased a new position in Wynn Resorts during the second quarter worth about $122,000. Atlas Capital Advisors LLC purchased a new position in Wynn Resorts during the second quarter worth about $130,000. Finally, Whittier Trust Co. lifted its position in Wynn Resorts by 157.5% during the second quarter. Whittier Trust Co. now owns 811 shares of the casino operator’s stock worth $169,000 after buying an additional 496 shares during the period. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of Wynn Resorts stock opened at $143.03 on Wednesday. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.04 and a current ratio of 1.08. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 0.94 and a beta of 1.43. Wynn Resorts, Limited has a 1-year low of $138.10 and a 1-year high of $203.63.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Wednesday, August 1st. The casino operator reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.43). The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.72 billion. Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 EPS. research analysts forecast that Wynn Resorts, Limited will post 7.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 28th. Shareholders of record on Thursday, August 16th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.10%. The ex-dividend date was Wednesday, August 15th. Wynn Resorts’s payout ratio is currently 54.95%.

Several equities analysts recently weighed in on WYNN shares. BidaskClub upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Tuesday, July 17th. Jefferies Financial Group cut their price objective on Wynn Resorts from $230.00 to $229.00 and set a “buy” rating on the stock in a report on Friday, June 29th. Stifel Nicolaus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and cut their price objective for the stock from $209.00 to $207.00 in a report on Tuesday, July 10th. Nomura dropped their target price on Wynn Resorts from $220.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, July 9th. Finally, Deutsche Bank dropped their target price on Wynn Resorts from $219.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, June 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Wynn Resorts currently has an average rating of “Hold” and a consensus price target of $189.63.

About Wynn Resorts

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

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