Dynamic Technology Lab Private Ltd Purchases New Stake in Wynn Resorts, Limited (WYNN)
Dynamic Technology Lab Private Ltd purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,286 shares of the casino operator’s stock, valued at approximately $2,451,000. Wynn Resorts accounts for about 0.3% of Dynamic Technology Lab Private Ltd’s portfolio, making the stock its 27th biggest holding.
A number of other institutional investors and hedge funds have also recently modified their holdings of WYNN. BlackRock Inc. lifted its position in Wynn Resorts by 12.6% during the 2nd quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock worth $957,788,000 after acquiring an additional 641,845 shares during the period. FMR LLC lifted its position in Wynn Resorts by 491.2% during the 2nd quarter. FMR LLC now owns 625,891 shares of the casino operator’s stock worth $104,737,000 after acquiring an additional 520,025 shares during the period. Renaissance Technologies LLC acquired a new stake in Wynn Resorts during the 2nd quarter worth about $54,151,000. Criterion Capital Management LLC lifted its position in Wynn Resorts by 267.2% during the 2nd quarter. Criterion Capital Management LLC now owns 333,806 shares of the casino operator’s stock worth $55,859,000 after acquiring an additional 242,906 shares during the period. Finally, Zeke Capital Advisors LLC lifted its position in Wynn Resorts by 336.4% during the 3rd quarter. Zeke Capital Advisors LLC now owns 294,452 shares of the casino operator’s stock worth $37,413,000 after acquiring an additional 226,975 shares during the period. 75.08% of the stock is owned by institutional investors.
In other Wynn Resorts news, Director Philip G. Satre purchased 9,800 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was purchased at an average price of $103.01 per share, for a total transaction of $1,009,498.00. Following the purchase, the director now directly owns 100 shares in the company, valued at $10,301. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.95% of the stock is owned by insiders.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, November 7th. The casino operator reported $1.68 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. Wynn Resorts’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts forecast that Wynn Resorts, Limited will post 6.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Wednesday, November 21st were paid a $0.75 dividend. The ex-dividend date was Tuesday, November 20th. This represents a $3.00 annualized dividend and a dividend yield of 2.72%. Wynn Resorts’s dividend payout ratio is presently 54.95%.
A number of equities analysts have weighed in on WYNN shares. Roth Capital reduced their price objective on Wynn Resorts from $210.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, November 8th. Stifel Nicolaus reduced their price objective on Wynn Resorts from $192.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, November 8th. Jefferies Financial Group lowered Wynn Resorts from a “buy” rating to a “hold” rating and set a $170.00 price objective for the company. in a research note on Tuesday, August 14th. Bank of America reiterated a “hold” rating and set a $125.00 price objective on shares of Wynn Resorts in a research note on Tuesday, October 16th. Finally, Morgan Stanley reduced their price objective on Wynn Resorts from $139.00 to $130.00 and set a “hold” rating for the company in a research note on Thursday, November 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. Wynn Resorts presently has an average rating of “Hold” and an average target price of $168.11.
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Wynn Resorts Company 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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