Vontobel Holding Ltd. Raises Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Vontobel Holding Ltd. boosted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 40.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,718 shares of the casino operator’s stock after purchasing an additional 2,505 shares during the quarter. Vontobel Holding Ltd.’s holdings in Wynn Resorts were worth $836,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. Renaissance Technologies LLC raised its position in Wynn Resorts by 29.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after buying an additional 303,033 shares during the last quarter. Janus Henderson Group PLC raised its position in Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after buying an additional 204,852 shares during the last quarter. Bamco Inc. NY grew its stake in shares of Wynn Resorts by 5.1% during the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock worth $80,591,000 after purchasing an additional 38,160 shares during the period. Finally, Regal Partners Ltd grew its stake in shares of Wynn Resorts by 5.6% during the 2nd quarter. Regal Partners Ltd now owns 724,700 shares of the casino operator’s stock worth $64,861,000 after purchasing an additional 38,344 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Stifel Nicolaus lowered their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Susquehanna increased their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Finally, Morgan Stanley increased their price objective on shares of Wynn Resorts from $104.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average target price of $115.67.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $99.44 on Monday. The firm has a market cap of $11.14 billion, a P/E ratio of 13.62, a PEG ratio of 2.57 and a beta of 1.81. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The firm’s 50-day simple moving average is $85.42 and its 200-day simple moving average is $89.25.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts expect that Wynn Resorts, Limited will post 5.42 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.01%. Wynn Resorts’s payout ratio is 13.70%.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is currently owned by 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.