TD Waterhouse Canada Inc. Buys 18,375 Shares of Wynn Resorts, Limited $WYNN

Key Points

• TD Waterhouse Canada Inc. increased its Wynn Resorts stake by 6,780.4%, purchasing 18,375 shares to hold 18,646 shares valued at approximately $1.79 million. Institutional investors collectively own 88.64% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $133.82, despite several recent target-price reductions.
• Wynn Resorts reported quarterly earnings of $1.24 per share, exceeding estimates of $0.99, while revenue rose 6.9% year over year to $1.86 billion. The company also pays a quarterly dividend of $0.25, representing a 1.1% annualized yield.

TD Waterhouse Canada Inc. increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 6,780.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,646 shares of the casino operator's stock after buying an additional 18,375 shares during the period. TD Waterhouse Canada Inc.'s holdings in Wynn Resorts were worth $1,792,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WYNN. Capital World Investors grew its stake in shares of Wynn Resorts by 0.6% in the fourth quarter. Capital World Investors now owns 9,542,392 shares of the casino operator's stock worth $1,148,236,000 after acquiring an additional 61,209 shares during the last quarter. BlackRock Inc. bought a new position in Wynn Resorts in the 2nd quarter worth about $609,566,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in Wynn Resorts by 9.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator's stock valued at $442,890,000 after purchasing an additional 320,502 shares during the last quarter. Egerton Capital UK LLP purchased a new position in Wynn Resorts in the fourth quarter worth about $249,053,000. Finally, Invesco Ltd. raised its holdings in Wynn Resorts by 14.2% in the 4th quarter. Invesco Ltd. now owns 2,011,462 shares of the casino operator's stock worth $242,039,000 after acquiring an additional 249,704 shares during the last quarter. Institutional investors own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on WYNN shares. Zacks Research raised Wynn Resorts from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. JPMorgan Chase & Co. reduced their price objective on Wynn Resorts from $135.00 to $134.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. Mizuho decreased their target price on Wynn Resorts from $133.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company dropped their price target on shares of Wynn Resorts from $141.00 to $131.00 and set an "overweight" rating on the stock in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.82.

Wynn Resorts Stock Performance

WYNN opened at $92.22 on Wednesday. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.10 and a beta of 1.00. The firm's fifty day moving average is $97.65 and its 200 day moving average is $101.23. Wynn Resorts, Limited has a fifty-two week low of $89.44 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.83 billion. During the same period last year, the firm earned $1.09 earnings per share. The business's quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Wynn Resorts, Limited will post 4.55 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Wynn Resorts's payout ratio is currently 24.81%.

About Wynn Resorts

Wynn Resorts, Limited NASDAQ: WYNN is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.

Want to see what other hedge funds are holding WYNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wynn Resorts, Limited (NASDAQ:WYNN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.