Wynn Resorts, Limited $WYNN Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A reduced its stake in Wynn Resorts by 44.6%, now holding 15,533 shares valued at approximately $1.30 million.
• Wynn Resorts recently reported earnings of $1.09 per share, missing expectations, with a revenue of $1.74 billion for the quarter.
• The company announced a quarterly dividend of $0.25 per share, with a payout ratio of 30.03%, and shares will be paid out on August 29th.

Credit Agricole S A lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 44.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,533 shares of the casino operator's stock after selling 12,483 shares during the quarter. Credit Agricole S A's holdings in Wynn Resorts were worth $1,297,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BOKF NA grew its holdings in shares of Wynn Resorts by 3.9% during the fourth quarter. BOKF NA now owns 3,557 shares of the casino operator's stock worth $289,000 after purchasing an additional 132 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Wynn Resorts by 1.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator's stock valued at $589,000 after acquiring an additional 132 shares in the last quarter. Snowden Capital Advisors LLC raised its holdings in Wynn Resorts by 5.6% in the fourth quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator's stock worth $223,000 after purchasing an additional 138 shares in the last quarter. Navalign LLC raised its holdings in Wynn Resorts by 1.8% in the first quarter. Navalign LLC now owns 8,252 shares of the casino operator's stock worth $689,000 after purchasing an additional 144 shares in the last quarter. Finally, Grassi Investment Management grew its stake in shares of Wynn Resorts by 4.2% in the first quarter. Grassi Investment Management now owns 3,690 shares of the casino operator's stock worth $308,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Performance

WYNN stock traded up $3.54 on Thursday, hitting $126.74. 2,236,692 shares of the company's stock were exchanged, compared to its average volume of 2,462,762. The firm has a 50 day moving average price of $106.83 and a two-hundred day moving average price of $92.30. The stock has a market cap of $13.18 billion, a P/E ratio of 38.06, a price-to-earnings-growth ratio of 6.33 and a beta of 1.41. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $126.88.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly 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). The firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Wynn Resorts's dividend payout ratio is presently 30.03%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on WYNN shares. Stifel Nicolaus increased their target price on Wynn Resorts from $113.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. The Goldman Sachs Group started coverage on Wynn Resorts in a research note on Monday, July 7th. They issued a "buy" rating and a $122.00 price objective on the stock. Jefferies Financial Group lifted their target price on Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Citigroup restated a "neutral" rating and set a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Finally, UBS Group upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $101.00 to $147.00 in a report on Thursday. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Wynn Resorts currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.93.

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.