Highland Capital Management LLC continued to hold its stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,950 shares of the casino operator’s stock at the end of the second quarter. Highland Capital Management LLC’s holdings in Wynn Resorts, Limited were worth $262,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Wynn Resorts, Limited by 83.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the casino operator’s stock valued at $117,000 after buying an additional 462 shares during the period. FNY Partners Fund LP boosted its stake in Wynn Resorts, Limited by 5,400.0% in the first quarter. FNY Partners Fund LP now owns 1,100 shares of the casino operator’s stock valued at $126,000 after buying an additional 1,080 shares during the period. Mercer Capital Advisers Inc. acquired a new stake in Wynn Resorts, Limited during the first quarter valued at about $143,000. Gulf International Bank UK Ltd boosted its stake in Wynn Resorts, Limited by 13.9% in the first quarter. Gulf International Bank UK Ltd now owns 1,639 shares of the casino operator’s stock valued at $187,000 after buying an additional 200 shares during the period. Finally, Newman Dignan & Sheerar Inc. acquired a new stake in Wynn Resorts, Limited during the first quarter valued at about $210,000. 72.83% of the stock is owned by institutional investors.
Wynn Resorts, Limited (WYNN) traded up 0.21% during mid-day trading on Friday, hitting $134.90. The stock had a trading volume of 1,729,642 shares. Wynn Resorts, Limited has a 12-month low of $82.51 and a 12-month high of $139.67. The company has a 50-day moving average of $131.69 and a 200-day moving average of $120.08. The firm has a market cap of $13.75 billion, a PE ratio of 50.49 and a beta of 1.72. Wynn Resorts, Limited also was the target of unusually large options trading activity on Tuesday. Stock investors bought 13,518 put options on the stock. This is an increase of approximately 161% compared to the average volume of 5,177 put options.
Wynn Resorts, Limited (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, July 25th. The casino operator reported $1.18 EPS for the quarter, topping the consensus estimate of $1.16 by $0.02. Wynn Resorts, Limited had a net margin of 5.02% and a return on equity of 165.77%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the company posted $1.07 earnings per share. The company’s quarterly revenue was up 44.5% compared to the same quarter last year. Analysts expect that Wynn Resorts, Limited will post $4.90 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Stockholders of record on Thursday, August 10th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, August 8th. This represents a $2.00 annualized dividend and a dividend yield of 1.48%. Wynn Resorts, Limited’s payout ratio is 74.91%.
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A number of equities research analysts have recently weighed in on WYNN shares. Aegis reaffirmed a “buy” rating and issued a $132.00 price objective (up from $121.00) on shares of Wynn Resorts, Limited in a research note on Saturday, April 29th. Union Gaming Research raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, April 26th. UBS AG raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, April 26th. Vetr raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $131.33 price objective for the company in a research note on Tuesday, May 2nd. Finally, BidaskClub raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $126.99.
In other news, EVP Kimmarie Sinatra sold 22,624 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $129.12, for a total transaction of $2,921,210.88. Following the transaction, the executive vice president now owns 221,067 shares of the company’s stock, valued at $28,544,171.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Matt Maddox sold 44,309 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $134.35, for a total transaction of $5,952,914.15. Following the completion of the transaction, the president now directly owns 344,895 shares in the company, valued at approximately $46,336,643.25. The disclosure for this sale can be found here. Insiders have sold 69,933 shares of company stock worth $9,261,125 in the last ninety days. Corporate insiders own 13.20% of the company’s stock.
About Wynn Resorts, Limited
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
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