BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 58.9% in the second quarter, Holdings Channel reports. The institutional investor owned 19,318 shares of the casino operator’s stock after acquiring an additional 7,159 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Wynn Resorts were worth $1,729,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Empirical Finance LLC increased its position in shares of Wynn Resorts by 3.7% in the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock valued at $329,000 after acquiring an additional 114 shares during the period. EntryPoint Capital LLC boosted its stake in shares of Wynn Resorts by 7.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp lifted its stake in Wynn Resorts by 8.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock valued at $137,000 after buying an additional 120 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Wynn Resorts by 2.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after buying an additional 149 shares in the last quarter. Finally, Garde Capital Inc. lifted its stake in Wynn Resorts by 10.1% in the 1st quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock valued at $177,000 after buying an additional 160 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Price Performance

Shares of WYNN opened at $97.62 on Monday. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The stock has a market cap of $10.94 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 2.17 and a beta of 1.80. The firm has a fifty day moving average price of $78.63 and a 200 day moving average price of $89.09.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. Wynn Resorts’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. As a group, equities analysts expect that Wynn Resorts, Limited will post 5.44 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Analysts Set New Price Targets

A number of 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 target price for the stock from $97.00 to $104.00 in a research note on Friday. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. dropped their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Macquarie reissued an “outperform” rating and issued a $126.00 price target on shares of Wynn Resorts in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and an average target price of $114.20.

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.