TD Asset Management Inc. cut its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 61.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,410 shares of the casino operator’s stock after selling 55,638 shares during the quarter. TD Asset Management Inc.’s holdings in Wynn Resorts were worth $3,502,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Sterling Investment Advisors Ltd. lifted its position in shares of Wynn Resorts by 87.5% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 750 shares of the casino operator’s stock worth $74,000 after buying an additional 350 shares during the last quarter. Ayalon Holdings Ltd. acquired a new stake in shares of Wynn Resorts during the fourth quarter worth $80,000. Financial Architects Inc lifted its stake in shares of Wynn Resorts by 52.1% during the third quarter. Financial Architects Inc now owns 1,635 shares of the casino operator’s stock worth $207,000 after buying an additional 560 shares during the period. Princeton Capital Management LLC acquired a new stake in shares of Wynn Resorts during the third quarter worth $254,000. Finally, GFS Advisors LLC acquired a new stake in shares of Wynn Resorts during the third quarter worth $266,000. 76.13% of the stock is currently owned by institutional investors and hedge funds.
WYNN has been the subject of several research reports. Roth Capital lowered their price objective on shares of Wynn Resorts from $210.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, November 8th. Stifel Nicolaus lowered their price objective on shares of Wynn Resorts from $192.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, November 8th. Deutsche Bank reiterated a “buy” rating and set a $123.00 price objective on shares of Wynn Resorts in a research note on Monday, December 17th. Zacks Investment Research upgraded shares of Wynn Resorts from a “strong sell” rating to a “buy” rating and set a $123.00 price objective for the company in a research note on Saturday, January 12th. Finally, BidaskClub upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Wednesday, January 30th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $148.50.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Wednesday, January 30th. The casino operator reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.30). The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.63 billion. Wynn Resorts had a return on equity of 50.79% and a net margin of 8.70%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $1.40 EPS. Research analysts expect that Wynn Resorts, Limited will post 6.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Friday, February 15th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.41%. Wynn Resorts’s dividend payout ratio (DPR) is currently 45.87%.
In other Wynn Resorts news, CEO Matt Maddox sold 18,900 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $124.15, for a total value of $2,346,435.00. Following the completion of the transaction, the chief executive officer now owns 487,399 shares in the company, valued at $60,510,585.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.95% of the company’s stock.
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Wynn Resorts Company Profile
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
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