AQR Capital Management LLC Lowers Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

AQR Capital Management LLC lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 29.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 776,033 shares of the casino operator’s stock after selling 327,518 shares during the quarter. AQR Capital Management LLC’s holdings in Wynn Resorts were worth $69,393,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WYNN. Toronto Dominion Bank grew its stake in shares of Wynn Resorts by 86.5% in the second quarter. Toronto Dominion Bank now owns 54,320 shares of the casino operator’s stock worth $4,862,000 after acquiring an additional 25,195 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Wynn Resorts by 58.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 19,318 shares of the casino operator’s stock worth $1,729,000 after purchasing an additional 7,159 shares in the last quarter. Land & Buildings Investment Management LLC purchased a new stake in Wynn Resorts during the 2nd quarter valued at about $5,491,000. Marshall Wace LLP bought a new stake in Wynn Resorts during the 2nd quarter valued at about $1,869,000. Finally, Xponance Inc. raised its holdings in Wynn Resorts by 2.9% in the second quarter. Xponance Inc. now owns 13,846 shares of the casino operator’s stock worth $1,239,000 after buying an additional 384 shares during the last quarter. Institutional investors own 68.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Morgan Stanley raised shares of Wynn Resorts from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $97.00 to $104.00 in a research report on Friday. Jefferies Financial Group reduced their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, July 11th. JPMorgan Chase & Co. dropped their price objective on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Macquarie restated an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company dropped their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.20.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $97.62 on Friday. The stock has a market cap of $10.94 billion, a P/E ratio of 13.37, a P/E/G ratio of 2.17 and a beta of 1.80. The stock’s fifty day moving average is $78.63 and its 200 day moving average is $89.28. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted 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 company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. Analysts predict that Wynn Resorts, Limited will post 5.44 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.52% of the company’s stock.

About Wynn Resorts

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.