Conning Inc. cut its position in Wynn Resorts Ltd. (NASDAQ:WYNN) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,548 shares of the casino operator’s stock after selling 100 shares during the period. Conning Inc.’s holdings in Wynn Resorts were worth $231,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in WYNN. IFP Advisors Inc raised its position in shares of Wynn Resorts by 44.1% in the first quarter. IFP Advisors Inc now owns 1,069 shares of the casino operator’s stock worth $100,000 after buying an additional 327 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in Wynn Resorts during the first quarter worth about $205,000. RMB Capital Management LLC purchased a new position in Wynn Resorts during the first quarter worth about $316,000. ING Groep NV purchased a new position in Wynn Resorts during the first quarter worth about $368,000. Finally, K.J. Harrison & Partners Inc boosted its position in Wynn Resorts by 50.0% in the second quarter. K.J. Harrison & Partners Inc now owns 4,500 shares of the casino operator’s stock worth $408,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 74.48% of the company’s stock.
Wynn Resorts Ltd. (NASDAQ:WYNN) traded down 0.20% during mid-day trading on Thursday, hitting $97.74. The company’s stock had a trading volume of 1,969,182 shares. The firm’s 50-day moving average is $98.24 and its 200-day moving average is $96.22. Wynn Resorts Ltd. has a 12-month low of $49.95 and a 12-month high of $109.50. The company has a market cap of $9.91 billion, a P/E ratio of 30.24 and a beta of 1.85.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.16. The firm earned $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. Wynn Resorts’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. Analysts predict that Wynn Resorts Ltd. will post $3.77 EPS for the current fiscal year.
WYNN has been the subject of a number of research reports. Nomura cut Wynn Resorts from a “neutral” rating to a “reduce” rating and upped their price objective for the stock from $78.00 to $83.00 in a report on Friday, July 29th. Vetr upgraded Wynn Resorts from a “buy” rating to a “strong-buy” rating and set a $112.54 price objective for the company in a report on Wednesday, August 10th. Morgan Stanley reiterated an “overweight” rating on shares of Wynn Resorts in a report on Wednesday, June 29th. Credit Agricole SA set a $97.00 price objective on Wynn Resorts and gave the stock a “sell” rating in a report on Monday, September 19th. Finally, JPMorgan Chase & Co. cut Wynn Resorts from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $101.00 to $94.00 in a report on Thursday, July 14th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $101.91.
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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