Nordea Investment Management AB Reduces Stock Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Nordea Investment Management AB reduced its stake in Wynn Resorts by 5%, holding approximately 108,220 shares worth $10.13 million after selling 5,710 shares in the second quarter.
• Wynn Resorts reported a loss of $0.11 per share in its latest earnings, totaling $1.09 earnings per share versus an estimate of $1.20, despite achieving $1.74 billion in revenue.
• Several institutional investors have also increased their investments in Wynn Resorts, with Regal Partners Ltd raising its stake by 21.5% during the first quarter.

Nordea Investment Management AB lowered its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,220 shares of the casino operator's stock after selling 5,710 shares during the quarter. Nordea Investment Management AB owned approximately 0.10% of Wynn Resorts worth $10,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. DAVENPORT & Co LLC purchased a new stake in Wynn Resorts during the first quarter valued at approximately $49,476,000. Nuveen LLC bought a new stake in shares of Wynn Resorts during the 1st quarter valued at $41,731,000. Regal Partners Ltd increased its stake in shares of Wynn Resorts by 21.5% in the 1st quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock worth $91,147,000 after purchasing an additional 192,873 shares in the last quarter. Goodman Financial Corp purchased a new stake in shares of Wynn Resorts in the 1st quarter worth $13,357,000. Finally, Kodai Capital Management LP raised its holdings in Wynn Resorts by 174.5% in 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. Institutional investors 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 business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the sale, the director owned 3,066 shares in the company, valued at $383,250. The trade was a 59.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.52% of the company's stock.

Wynn Resorts Trading Up 1.6%

NASDAQ:WYNN opened at $117.81 on Monday. The stock has a 50-day moving average price of $121.23 and a 200 day moving average price of $102.23. The stock has a market capitalization of $12.25 billion, a P/E ratio of 35.38, a P/E/G ratio of 6.09 and a beta of 1.31. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $134.23.

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). 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 during 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 company's revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

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

Analysts Set New Price Targets

WYNN has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Wynn Resorts from $124.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, October 1st. Citigroup reaffirmed a "neutral" rating and set a $114.00 price objective (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. UBS Group raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating and increased their target price for the stock from $101.00 to $147.00 in a report on Thursday, August 28th. Barclays raised their target price on shares of Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, Jefferies Financial Group upped their price target on shares of Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $129.64.

Wynn Resorts 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.

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