Bank of Nova Scotia trimmed its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,201 shares of the casino operator’s stock after selling 1,107 shares during the period. Bank of Nova Scotia’s holdings in Wynn Resorts were worth $1,540,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WYNN. Stratos Wealth Partners LTD. increased its stake in shares of Wynn Resorts by 14.9% during the first quarter. Stratos Wealth Partners LTD. now owns 2,531 shares of the casino operator’s stock worth $462,000 after purchasing an additional 329 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Wynn Resorts by 115.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 614 shares of the casino operator’s stock worth $103,000 after acquiring an additional 329 shares during the period. Dupont Capital Management Corp increased its stake in Wynn Resorts by 87.9% during the 2nd quarter. Dupont Capital Management Corp now owns 823 shares of the casino operator’s stock worth $138,000 after acquiring an additional 385 shares during the period. Redpoint Investment Management Pty Ltd increased its stake in Wynn Resorts by 21.6% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 2,226 shares of the casino operator’s stock worth $372,000 after acquiring an additional 395 shares during the period. Finally, Moors & Cabot Inc. increased its stake in Wynn Resorts by 26.9% during the 1st quarter. Moors & Cabot Inc. now owns 1,887 shares of the casino operator’s stock worth $344,000 after acquiring an additional 400 shares during the period. 75.24% of the stock is owned by institutional investors.

A number of equities analysts have commented on the company. BidaskClub lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Argus lowered Wynn Resorts from a “buy” rating to a “hold” rating and set a $135.00 price objective on the stock. in a research note on Tuesday, August 7th. Jefferies Financial Group restated a “buy” rating on shares of Wynn Resorts in a research note on Wednesday, August 1st. Stifel Nicolaus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $209.00 to $207.00 in a research note on Tuesday, July 10th. Finally, Bank of America lowered their price objective on Wynn Resorts from $180.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $189.63.

Shares of WYNN stock opened at $128.94 on Friday. The firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 0.88 and a beta of 1.42. Wynn Resorts, Limited has a fifty-two week low of $126.96 and a fifty-two week high of $203.63. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.04 and a current ratio of 1.08.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Wednesday, August 1st. The casino operator reported $1.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.96 by ($0.43). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.72 billion. Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.18 EPS. analysts forecast that Wynn Resorts, Limited will post 7.58 earnings per share for the current year.

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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