Raiffeisen Bank International AG Sells 2,345 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Key Points

• Raiffeisen Bank International AG significantly reduced its stake in Wynn Resorts, decreasing its holdings by 79.4%, now owning only 607 shares valued at approximately $51,000.
• Institutional investors dominate Wynn Resorts, with hedge funds and other entities holding 88.64% of the company's stock, reflecting significant interest from large investors in the casino operator.
• Wynn Resorts recently reported earnings that missed analysts' expectations, with a net revenue of $1.70 billion for the quarter, down 8.7% year-over-year.

Raiffeisen Bank International AG trimmed its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 79.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 607 shares of the casino operator's stock after selling 2,345 shares during the quarter. Raiffeisen Bank International AG's holdings in Wynn Resorts were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after acquiring an additional 485,204 shares in the last quarter. Jefferies Financial Group Inc. boosted its holdings in Wynn Resorts by 9.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock worth $145,059,000 after acquiring an additional 139,270 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Wynn Resorts by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock worth $139,300,000 after acquiring an additional 228,000 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new position in Wynn Resorts in the fourth quarter worth approximately $101,375,000. Finally, Deutsche Bank AG boosted its holdings in Wynn Resorts by 108.5% in the fourth quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock worth $73,118,000 after acquiring an additional 441,558 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Down 0.8%

Shares of WYNN traded down $0.82 during trading hours on Friday, hitting $106.41. The company had a trading volume of 4,211,185 shares, compared to its average volume of 1,679,787. The firm has a market cap of $11.13 billion, a P/E ratio of 31.96, a P/E/G ratio of 2.94 and a beta of 1.41. The stock's 50 day moving average price is $99.81 and its 200 day moving average price is $89.72. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $112.36.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 58.99%. The business 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 for the quarter was up .6% on a year-over-year basis. On average, research analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

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

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the 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 sale, the director directly owned 3,066 shares in the company, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. 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. Barclays raised their target price on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price target for the company. The Goldman Sachs Group started coverage on Wynn Resorts in a report on Monday, July 7th. They issued a "buy" rating and a $122.00 price target for the company. Finally, Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $116.57.

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.