Quantitative Investment Management LLC Lowers Position in Wynn Resorts, Limited $WYNN

Quantitative Investment Management LLC trimmed its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 51.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,682 shares of the casino operator’s stock after selling 8,059 shares during the quarter. Quantitative Investment Management LLC’s holdings in Wynn Resorts were worth $745,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Wynn Resorts by 10.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after buying an additional 754 shares in the last quarter. Woodline Partners LP increased its position in Wynn Resorts by 36.2% in the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock worth $632,000 after purchasing an additional 2,012 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Wynn Resorts by 13.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock worth $155,000 after buying an additional 201 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in Wynn Resorts by 9.5% during the 2nd quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock valued at $937,000 after purchasing an additional 868 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Down 0.7%

WYNN stock opened at $90.60 on Wednesday. Wynn Resorts, Limited has a twelve month low of $89.44 and a twelve month high of $134.72. The stock’s 50 day moving average is $98.48 and its 200-day moving average is $101.98. The firm has a market capitalization of $9.33 billion, a PE ratio of 22.48, a P/E/G ratio of 1.10 and a beta of 1.00.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the firm posted $1.09 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 4.55 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 14th. Wynn Resorts’s dividend payout ratio (DPR) is presently 24.81%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WYNN. Citigroup restated a “buy” rating on shares of Wynn Resorts in a research note on Thursday, August 6th. Stifel Nicolaus set a $143.00 price target on shares of Wynn Resorts in a research report on Wednesday, August 5th. Barclays boosted their price target on shares of Wynn Resorts from $134.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Truist Financial initiated coverage on Wynn Resorts in a research note on Wednesday, July 8th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Mizuho lowered their price target on Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.19.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.