Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its holdings in Wynn Resorts by 64.3% in Q1, ending with 31,161 shares valued at approximately $2.6 million after selling 56,101 shares.
• Despite the reduction by TD Asset Management, other investors like Global X Japan Co. Ltd. and Thurston Springer Miller Herd & Titak Inc. have significantly increased their positions in Wynn Resorts during the same period.
• Wynn Resorts reported Q1 earnings of $1.07 EPS, falling short of analyst expectations of $1.24, with quarterly revenue down 8.7% year-over-year.

TD Asset Management Inc lowered its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 64.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,161 shares of the casino operator's stock after selling 56,101 shares during the period. TD Asset Management Inc's holdings in Wynn Resorts were worth $2,602,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. American Assets Inc. boosted its position in shares of Wynn Resorts by 52.2% during the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock worth $879,000 after purchasing an additional 3,500 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Wynn Resorts by 29.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,061 shares of the casino operator's stock worth $350,000 after acquiring an additional 928 shares during the last quarter. Alliancebernstein L.P. raised its position in Wynn Resorts by 12.4% during the fourth quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock worth $10,577,000 after acquiring an additional 13,553 shares during the last quarter. Franklin Resources Inc. raised its position in Wynn Resorts by 1.3% during the fourth quarter. Franklin Resources Inc. now owns 254,143 shares of the casino operator's stock worth $21,897,000 after acquiring an additional 3,181 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Wynn Resorts by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock worth $209,120,000 after acquiring an additional 26,792 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Price Performance

Wynn Resorts stock traded down $0.88 during midday trading on Monday, hitting $107.05. 1,459,610 shares of the stock were exchanged, compared to its average volume of 2,490,234. The company has a 50 day moving average price of $98.19 and a two-hundred day moving average price of $88.99. The firm has a market cap of $11.19 billion, a P/E ratio of 29.74, a P/E/G ratio of 2.98 and a beta of 1.41. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $112.36.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm posted $1.59 EPS. The company's revenue was down 8.7% compared to the same quarter last year. As a group, analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.00 annualized dividend and a yield of 0.9%. Wynn Resorts's dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on WYNN shares. UBS Group reiterated a "neutral" rating and set a $101.00 price target (up from $83.00) on shares of Wynn Resorts in a report on Tuesday, July 8th. The Goldman Sachs Group began coverage on shares of Wynn Resorts in a report on Monday, July 7th. They set a "buy" rating and a $122.00 price target for the company. Citigroup restated a "neutral" rating and issued a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Mizuho lowered their target price on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, Barclays boosted their price objective on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average target price of $114.71.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the sale, the director owned 3,066 shares of the company's stock, valued at approximately $282,439.92. The trade was a 42.45% decrease in their position. 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 corporate insiders.

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.