APG Asset Management N.V. Grows Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

APG Asset Management N.V. lifted its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 231.0% during the second quarter, Holdings Channel reports. The institutional investor owned 11,176 shares of the casino operator’s stock after acquiring an additional 7,800 shares during the quarter. APG Asset Management N.V.’s holdings in Wynn Resorts were worth $933,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in Wynn Resorts in the 2nd quarter worth approximately $25,000. ICA Group Wealth Management LLC acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $27,000. Register Financial Advisors LLC acquired a new stake in Wynn Resorts during the first quarter valued at $37,000. Neo Ivy Capital Management acquired a new stake in Wynn Resorts during the fourth quarter valued at $40,000. Finally, Versant Capital Management Inc purchased a new position in Wynn Resorts in the second quarter valued at $51,000. 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 firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Price Performance

WYNN stock opened at $95.88 on Tuesday. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The firm has a market capitalization of $10.64 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 2.52 and a beta of 1.80. The business has a 50 day simple moving average of $78.87 and a 200-day simple moving average of $89.05.

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

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Analysts Set New Price Targets

WYNN has been the topic of a number of analyst reports. Stifel Nicolaus dropped their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft cut their price objective on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Jefferies Financial Group decreased their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Morgan Stanley raised shares of Wynn Resorts from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $97.00 to $104.00 in a report on Friday. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.20.

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.