Wynn Resorts, Limited $WYNN Position Trimmed by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 89.3% during the first quarter, Holdings Channel.com reports. The firm owned 5,305 shares of the casino operator’s stock after selling 44,357 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Wynn Resorts were worth $539,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Egerton Capital UK LLP acquired a new position in Wynn Resorts in the 4th quarter valued at approximately $249,053,000. Palidye Holdings Caymans Ltd acquired a new stake in shares of Wynn Resorts during the 2nd quarter valued at $104,629,000. Norges Bank purchased a new position in shares of Wynn Resorts during the 4th quarter valued at $122,696,000. Zurich Insurance Group Ltd FI purchased a new position in shares of Wynn Resorts during the 3rd quarter valued at $110,213,000. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Wynn Resorts by 9.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock worth $442,890,000 after acquiring an additional 320,502 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WYNN has been the subject of a number of research reports. Citigroup reduced their price objective on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Morgan Stanley reiterated an “overweight” rating and set a $128.00 price target on shares of Wynn Resorts in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a research note on Friday, May 8th. Mizuho dropped their price objective on Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Finally, Zacks Research cut shares of Wynn Resorts from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.44.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $99.31 on Monday. The stock’s 50-day moving average is $100.49 and its 200-day moving average is $104.21. The company has a market cap of $10.31 billion, a P/E ratio of 29.64, a P/E/G ratio of 0.98 and a beta of 1.01. Wynn Resorts, Limited has a 52-week low of $92.52 and a 52-week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. As a group, equities analysts predict that Wynn Resorts, Limited will post 4.49 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s payout ratio is currently 29.85%.

About Wynn Resorts

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.