TD Asset Management Inc Boosts Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

TD Asset Management Inc grew its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 115.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,217 shares of the casino operator’s stock after buying an additional 29,596 shares during the period. TD Asset Management Inc’s holdings in Wynn Resorts were worth $4,942,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Hodges Capital Management Inc. lifted its holdings in Wynn Resorts by 6.3% in the 2nd quarter. Hodges Capital Management Inc. now owns 231,004 shares of the casino operator’s stock worth $20,675,000 after purchasing an additional 13,766 shares in the last quarter. Regal Partners Ltd lifted its holdings in Wynn Resorts by 5.6% in 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 in the last quarter. Verus Capital Partners LLC purchased a new position in Wynn Resorts in the 2nd quarter worth approximately $297,000. Summit Financial LLC purchased a new position in Wynn Resorts in the 2nd quarter worth approximately $203,000. Finally, nVerses Capital LLC lifted its holdings in Wynn Resorts by 288.9% in the 2nd quarter. nVerses Capital LLC now owns 7,000 shares of the casino operator’s stock worth $626,000 after purchasing an additional 5,200 shares in the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WYNN has been the topic of a number of research analyst reports. Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Macquarie reaffirmed an “outperform” rating and issued a $126.00 price objective on shares of Wynn Resorts in a research note on Wednesday, August 7th. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Thursday, May 23rd. Jefferies Financial Group reduced their price objective on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.07.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $75.77 on Thursday. The company has a market cap of $8.41 billion, a P/E ratio of 10.38, a P/E/G ratio of 1.72 and a beta of 1.80. The business’s 50 day moving average price is $79.25 and its 200-day moving average price is $90.80. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. As a group, equities analysts predict that Wynn Resorts, Limited will post 5.55 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

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.