Candriam S.C.A. Has $1.42 Million Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Candriam S.C.A. increased its holdings in Wynn Resorts by 163.0%, owning 17,049 shares worth approximately $1.42 million as of the latest quarter.
• Wynn Resorts reported a net margin of 5.51% and earnings per share of $1.09, which was $0.11 lower than analysts' expectations.
• The company recently announced a quarterly dividend of $0.25 per share, reflecting a 0.9% yield and a payout ratio of 30.03%.

Candriam S.C.A. boosted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 163.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,049 shares of the casino operator's stock after buying an additional 10,567 shares during the quarter. Candriam S.C.A.'s holdings in Wynn Resorts were worth $1,424,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Banco BTG Pactual S.A. acquired a new position in Wynn Resorts during the first quarter worth approximately $459,000. Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Wynn Resorts by 116.0% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,564 shares of the casino operator's stock valued at $1,209,000 after purchasing an additional 7,820 shares during the last quarter. Sand Hill Global Advisors LLC grew its position in shares of Wynn Resorts by 84.8% in the first quarter. Sand Hill Global Advisors LLC now owns 48,335 shares of the casino operator's stock valued at $4,036,000 after purchasing an additional 22,185 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Wynn Resorts by 12.7% in the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator's stock valued at $82,834,000 after purchasing an additional 111,428 shares during the last quarter. Finally, Oder Investment Management LLC acquired a new position in shares of Wynn Resorts in the first quarter valued at approximately $715,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $114.31 on Friday. The company has a market capitalization of $11.89 billion, a P/E ratio of 34.33, a P/E/G ratio of 6.08 and a beta of 1.41. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $114.62. The business's 50 day simple moving average is $104.87 and its 200 day simple moving average is $91.55.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share 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 business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the company earned $1.12 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, August 18th. This represents a $1.00 annualized dividend and a yield of 0.9%. Wynn Resorts's dividend payout ratio is presently 30.03%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the sale, the director directly owned 3,066 shares in the company, valued at $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by insiders.

Analyst Ratings Changes

WYNN has been the topic of several research reports. Macquarie upped their target price on Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. The Goldman Sachs Group initiated coverage on Wynn Resorts in a research report on Monday, July 7th. They issued a "buy" rating and a $122.00 target price on the stock. Mizuho upped their target price on Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. UBS Group reaffirmed a "neutral" rating and issued a $101.00 target price (up previously from $83.00) on shares of Wynn Resorts in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. initiated coverage on Wynn Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price target on the stock. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $118.64.

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.

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