Federated Hermes Inc. lowered its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 46.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,331 shares of the casino operator's stock after selling 18,563 shares during the quarter. Federated Hermes Inc.'s holdings in Wynn Resorts were worth $1,781,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. grew its position in shares of Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after purchasing an additional 175 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Wynn Resorts by 3,408.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock worth $35,000 after buying an additional 409 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in Wynn Resorts in the 4th quarter valued at about $45,000. Garde Capital Inc. acquired a new position in shares of Wynn Resorts during the 1st quarter valued at about $73,000. Finally, Mather Group LLC. lifted its holdings in shares of Wynn Resorts by 32.7% during the 1st quarter. Mather Group LLC. now owns 896 shares of the casino operator's stock worth $75,000 after acquiring an additional 221 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on WYNN. Stifel Nicolaus boosted their target price on shares of Wynn Resorts from $113.00 to $130.00 and gave the company a "buy" rating in a report on Friday. The Goldman Sachs Group assumed coverage on shares of Wynn Resorts in a report on Monday, July 7th. They issued a "buy" rating and a $122.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective for the company. Citigroup reaffirmed a "neutral" rating and issued a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Finally, Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $116.57.
Check Out Our Latest Research Report on Wynn Resorts
Insiders Place Their Bets
In other 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 completion of the sale, the director directly owned 3,066 shares in the company, valued at $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.
Wynn Resorts Price Performance
Wynn Resorts stock traded down $0.82 during midday trading on Friday, hitting $106.41. 4,211,185 shares of the company were exchanged, compared to its average volume of 1,679,787. The company has a market cap of $11.13 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 2.96 and a beta of 1.41. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $112.36. The company's fifty day moving average price is $99.81 and its 200-day moving average price is $89.69.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 58.99% and a net margin of 5.51%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.12 earnings per share. On average, analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.
Wynn Resorts Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 18th. Wynn Resorts's dividend payout ratio is presently 27.78%.
About Wynn Resorts
(
Free Report)
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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