Wynn Resorts, Limited $WYNN Shares Sold by Amundi

Key Points

• Amundi reduced its stake in Wynn Resorts by 51.5%, now holding only 102,568 shares valued at approximately $8.56 million.
• Wynn Resorts recently reported a quarterly EPS of $1.09, missing estimates, while revenue for the quarter was $1.74 billion, meeting expectations.
• The company declared a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 0.8%.

Amundi decreased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 51.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,568 shares of the casino operator's stock after selling 109,015 shares during the quarter. Amundi owned 0.10% of Wynn Resorts worth $8,564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Planning Co of New England Inc. grew its stake in shares of Wynn Resorts by 14.0% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,789 shares of the casino operator's stock worth $233,000 after purchasing an additional 342 shares during the period. Night Squared LP acquired a new stake in shares of Wynn Resorts during the 1st quarter worth approximately $4,409,000. Long Focus Capital Management LLC grew its stake in shares of Wynn Resorts by 84.0% during the 1st quarter. Long Focus Capital Management LLC now owns 300,000 shares of the casino operator's stock worth $25,050,000 after purchasing an additional 137,000 shares during the period. Kodai Capital Management LP grew its stake in shares of Wynn Resorts by 174.5% during the 1st quarter. Kodai Capital Management LP now owns 239,031 shares of the casino operator's stock worth $19,959,000 after purchasing an additional 151,956 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Wynn Resorts during the 1st quarter worth approximately $124,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director owned 3,066 shares of the company's stock, valued at $383,250. This represents a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WYNN shares. Macquarie raised their price objective on shares of Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. The Goldman Sachs Group began coverage on shares of Wynn Resorts in a research note on Monday, July 7th. They issued a "buy" rating and a $122.00 price target on the stock. Jefferies Financial Group lifted their price target on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Mizuho lifted their price target on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. began coverage on shares of Wynn Resorts in a research note on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price target on the stock. Fourteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $124.47.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded down $2.41 during trading on Friday, hitting $121.45. 876,282 shares of the company were exchanged, compared to its average volume of 2,036,284. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $128.53. The company has a fifty day moving average price of $113.64 and a 200-day moving average price of $95.37. The firm has a market capitalization of $12.63 billion, a PE ratio of 36.47, a P/E/G ratio of 6.37 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly 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). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The company had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The firm's revenue was up .6% on a year-over-year basis. Research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts's payout ratio is currently 30.03%.

About Wynn Resorts

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.