Oregon Public Employees Retirement Fund lowered its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,570 shares of the casino operator’s stock after selling 500 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Wynn Resorts were worth $638,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in WYNN. Parallel Advisors LLC increased its stake in shares of Wynn Resorts by 84.0% in the first quarter. Parallel Advisors LLC now owns 447 shares of the casino operator’s stock worth $26,000 after acquiring an additional 204 shares during the period. Wealthcare Advisory Partners LLC increased its stake in shares of Wynn Resorts by 1,384.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 475 shares of the casino operator’s stock worth $29,000 after acquiring an additional 443 shares during the period. Joseph P. Lucia & Associates LLC increased its stake in shares of Wynn Resorts by 297.0% in the second quarter. Joseph P. Lucia & Associates LLC now owns 397 shares of the casino operator’s stock worth $30,000 after acquiring an additional 297 shares during the period. AlphaCore Capital LLC acquired a new stake in shares of Wynn Resorts in the first quarter worth $32,000. Finally, Key Financial Inc acquired a new stake in shares of Wynn Resorts in the first quarter worth $37,000. Hedge funds and other institutional investors own 74.80% of the company’s stock.
In other Wynn Resorts news, CFO Craig Scott Billings sold 6,000 shares of Wynn Resorts stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $84.77, for a total transaction of $508,620.00. Following the transaction, the chief financial officer now directly owns 84,287 shares of the company’s stock, valued at $7,145,008.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by insiders.
A number of analysts have recently weighed in on WYNN shares. Jefferies Financial Group cut their price objective on shares of Wynn Resorts from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. ValuEngine upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Bank of America raised their price target on shares of Wynn Resorts from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Union Gaming Research upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. Wynn Resorts currently has a consensus rating of “Buy” and a consensus target price of $107.50.
WYNN opened at $72.43 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.81 and a debt-to-equity ratio of 11.37. The company has a market cap of $8.24 billion, a price-to-earnings ratio of -20.12 and a beta of 2.47. Wynn Resorts, Limited has a 52-week low of $35.84 and a 52-week high of $153.41. The firm’s fifty day simple moving average is $79.35 and its two-hundred day simple moving average is $91.62.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Wednesday, May 6th. The casino operator reported ($3.54) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by ($2.49). The company had revenue of $953.70 million for the quarter, compared to analysts’ expectations of $887.81 million. Wynn Resorts had a negative net margin of 6.49% and a negative return on equity of 17.92%. The business’s revenue for the quarter was down 42.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.61 earnings per share. On average, research analysts forecast that Wynn Resorts, Limited will post -11.91 EPS for the current year.
Wynn Resorts Profile
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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