Aberdeen Group plc Sells 26,212 Shares of Wynn Resorts, Limited $WYNN

Key Points

• Aberdeen Group plc has reduced its holdings in Wynn Resorts by 77.1%, selling 26,212 shares and ending up with a total of 7,776 shares, valued at approximately $644,000.
• The company recently reported an EPS of $1.09, falling short of analysts' expectations of $1.20, while revenue matched the consensus estimate at $1.74 billion.
• Wynn Resorts will distribute a quarterly dividend of $0.25 to investors, with an upcoming ex-dividend date set for August 18th.

Aberdeen Group plc lowered its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 77.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,776 shares of the casino operator's stock after selling 26,212 shares during the quarter. Aberdeen Group plc's holdings in Wynn Resorts were worth $644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WYNN. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after buying an additional 485,204 shares in the last quarter. Jefferies Financial Group Inc. grew its position in Wynn Resorts by 9.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock worth $145,059,000 after acquiring an additional 139,270 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new stake in Wynn Resorts during the 4th quarter valued at $101,375,000. Regal Partners Ltd raised its position in Wynn Resorts by 21.5% in the 1st quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock valued at $91,147,000 after purchasing an additional 192,873 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Wynn Resorts by 108.5% in the 4th quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock valued at $73,118,000 after purchasing an additional 441,558 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $114.31 on Friday. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $114.62. The firm has a market capitalization of $11.89 billion, a P/E ratio of 34.33, a P/E/G ratio of 5.90 and a beta of 1.41. The company's 50 day simple moving average is $104.87 and its 200 day simple moving average is $91.48.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.11). The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. Sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 18th. Wynn Resorts's dividend payout ratio is currently 30.03%.

Wall Street Analyst Weigh In

WYNN has been the subject of a number of research reports. Mizuho raised their target price on Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. JPMorgan Chase & Co. began coverage on shares of Wynn Resorts in a research report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price objective for the company. Bank of America raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Wednesday, May 7th. Morgan Stanley increased their price target on shares of Wynn Resorts from $111.00 to $113.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group began coverage on shares of Wynn Resorts in a research report on Monday, July 7th. They issued a "buy" rating and a $122.00 price objective for the company. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $118.64.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the transaction, the director owned 3,066 shares in the company, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.52% of the company's stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.