Voya Investment Management LLC Sells 15,756 Shares of Wynn Resorts, Limited $WYNN

Key Points

• Voya Investment Management LLC has reduced its holdings in Wynn Resorts by 28.2%, selling 15,756 shares, and now owns 40,206 shares valued at approximately $3.36 million.
• Multiple institutional investors have significantly increased their positions in Wynn Resorts, with Assenagon Asset Management raising its holdings by 758.8% in the first quarter alone.
• Wynn Resorts' most recent earnings report revealed a loss per share compared to analysts' estimates, reporting $1.09 per share against an expectation of $1.20.

Voya Investment Management LLC lowered its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 28.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,206 shares of the casino operator's stock after selling 15,756 shares during the quarter. Voya Investment Management LLC's holdings in Wynn Resorts were worth $3,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of WYNN. DAVENPORT & Co LLC bought a new position in shares of Wynn Resorts during the 1st quarter valued at $49,476,000. Nuveen LLC bought a new position in shares of Wynn Resorts during the 1st quarter valued at $41,731,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Wynn Resorts by 18.4% in the 4th 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 during the period. Assenagon Asset Management S.A. raised its holdings in Wynn Resorts by 758.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 386,721 shares of the casino operator's stock worth $32,291,000 after acquiring an additional 341,688 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Wynn Resorts by 9,135.7% in the 1st quarter. GAMMA Investing LLC now owns 266,449 shares of the casino operator's stock worth $22,248,000 after acquiring an additional 263,564 shares during the period. Institutional investors own 88.64% of the company's stock.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the transaction, the director directly owned 3,066 shares of the company's stock, valued at approximately $383,250. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

WYNN has been the topic of several research analyst reports. Barclays raised their price target on shares of Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Morgan Stanley raised their price target on shares of Wynn Resorts from $113.00 to $128.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Argus upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 price target on the stock in a research report on Wednesday, September 3rd. Macquarie raised their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Citigroup restated a "neutral" rating and issued a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $125.47.

Wynn Resorts Trading Up 0.7%

Shares of NASDAQ WYNN opened at $129.52 on Friday. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $130.84. The company has a market cap of $13.47 billion, a PE ratio of 38.90, a P/E/G ratio of 6.55 and a beta of 1.37. The company has a 50-day moving average of $115.10 and a two-hundred day moving average of $96.62.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The company's revenue was up .6% on a year-over-year basis. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

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

About Wynn Resorts

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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