Strs Ohio reduced its position in shares of Wynn Resorts Ltd. (NASDAQ:WYNN) by 10.5% during the second quarter, Holdings Channel reports. The firm owned 213,975 shares of the casino operator’s stock after selling 25,222 shares during the period. Strs Ohio’s holdings in Wynn Resorts were worth $19,394,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in WYNN. Norges Bank bought a new position in shares of Wynn Resorts during the fourth quarter worth $38,032,000. Jericho Capital Asset Management L.P. bought a new position in shares of Wynn Resorts during the first quarter worth $44,826,000. Nicholas Investment Partners LP bought a new position in shares of Wynn Resorts during the first quarter worth $28,029,000. Euclid Advisors LLC increased its stake in Wynn Resorts by 7,331.2% in the first quarter. Euclid Advisors LLC now owns 286,846 shares of the casino operator’s stock worth $26,800,000 after buying an additional 282,986 shares during the period. Finally, Brookfield Asset Management Inc. acquired a new stake in Wynn Resorts during the first quarter worth $14,239,000. Hedge funds and other institutional investors own 74.48% of the company’s stock.
Shares of Wynn Resorts Ltd. (NASDAQ:WYNN) traded up 0.91% during trading on Wednesday, hitting $101.66. 3,047,427 shares of the stock traded hands. The stock has a 50 day moving average price of $98.79 and a 200-day moving average price of $95.82. Wynn Resorts Ltd. has a 1-year low of $49.95 and a 1-year high of $109.50. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 31.45 and a beta of 2.00.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, July 28th. The casino operator reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.16. The company earned $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Wynn Resorts had a net margin of 7.67% and a return on equity of 3,746.24%. Wynn Resorts’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. Equities analysts forecast that Wynn Resorts Ltd. will post $3.83 EPS for the current year.
A number of equities research analysts recently weighed in on the stock. Deutsche Bank AG reissued a “hold” rating on shares of Wynn Resorts in a research note on Sunday, June 26th. Wells Fargo & Co. reissued a “hold” rating on shares of Wynn Resorts in a research note on Saturday, June 4th. Vetr raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $103.36 price target for the company in a research note on Monday, August 1st. Morgan Stanley reissued an “overweight” rating on shares of Wynn Resorts in a research note on Wednesday, June 29th. Finally, Zacks Investment Research raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Wynn Resorts currently has an average rating of “Hold” and a consensus target price of $99.91.
About Wynn Resorts
Wynn Resorts, Limited 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 operates through two segments: Macau Operations and Las Vegas Operations.
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