Russell Investments Group Ltd. Has $1.52 Million Position in Wynn Resorts, Limited (WYNN)
Russell Investments Group Ltd. trimmed its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 88.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,951 shares of the casino operator’s stock after selling 93,658 shares during the period. Russell Investments Group Ltd.’s holdings in Wynn Resorts were worth $1,524,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Dupont Capital Management Corp grew its position in Wynn Resorts by 87.9% in the 2nd quarter. Dupont Capital Management Corp now owns 823 shares of the casino operator’s stock valued at $138,000 after buying an additional 385 shares during the last quarter. Crewe Advisors LLC grew its position in Wynn Resorts by 100.0% in the 2nd quarter. Crewe Advisors LLC now owns 1,000 shares of the casino operator’s stock valued at $175,000 after buying an additional 500 shares during the last quarter. Sun Life Financial INC grew its position in Wynn Resorts by 380.5% in the 2nd quarter. Sun Life Financial INC now owns 1,057 shares of the casino operator’s stock valued at $177,000 after buying an additional 837 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Wynn Resorts in the 2nd quarter valued at $201,000. Finally, Edgestream Partners L.P. purchased a new position in Wynn Resorts in the 2nd quarter valued at $217,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.
In other news, Director Philip G. Satre bought 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, with a total value of $1,009,498.00. Following the purchase, the director now owns 100 shares of the company’s stock, valued at approximately $10,301. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.95% of the stock is owned by insiders.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Wednesday, November 7th. The casino operator reported $1.68 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.01). Wynn Resorts had a return on equity of 56.04% and a net margin of 8.92%. 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 earnings per share. Wynn Resorts’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts forecast that Wynn Resorts, Limited will post 6.68 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Wednesday, November 21st were given a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, November 20th. This represents a $3.00 annualized dividend and a dividend yield of 2.67%. Wynn Resorts’s dividend payout ratio is presently 54.95%.
Several equities research analysts have commented on WYNN shares. Credit Suisse Group decreased their target price on shares of Wynn Resorts from $137.00 to $119.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 23rd. Bank of America restated a “hold” rating and set a $125.00 target price on shares of Wynn Resorts in a research report on Tuesday, October 16th. ValuEngine lowered shares of Wynn Resorts from a “sell” rating to a “strong sell” rating in a research report on Friday, September 7th. BidaskClub lowered shares of Wynn Resorts from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 29th. Finally, Morgan Stanley decreased their target price on shares of Wynn Resorts from $139.00 to $130.00 and set a “hold” rating on the stock in a research report on Thursday, November 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Wynn Resorts presently has an average rating of “Hold” and an average price target of $168.11.
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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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