Swiss National Bank Acquires 69,600 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Swiss National Bank increased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 22.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 374,875 shares of the casino operator’s stock after purchasing an additional 69,600 shares during the period. Swiss National Bank owned 0.35% of Wynn Resorts worth $22,564,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Capital World Investors raised its holdings in Wynn Resorts by 38.1% in the fourth quarter. Capital World Investors now owns 6,187,167 shares of the casino operator’s stock worth $859,212,000 after purchasing an additional 1,705,864 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Wynn Resorts by 192.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,249,204 shares of the casino operator’s stock valued at $312,347,000 after buying an additional 1,480,032 shares in the last quarter. Norges Bank purchased a new position in shares of Wynn Resorts in the 4th quarter worth approximately $132,852,000. Capital International Investors raised its stake in shares of Wynn Resorts by 7.1% during the 4th quarter. Capital International Investors now owns 4,639,083 shares of the casino operator’s stock worth $644,230,000 after acquiring an additional 308,919 shares in the last quarter. Finally, BlackRock Inc. lifted its position in Wynn Resorts by 4.9% during the first quarter. BlackRock Inc. now owns 6,436,674 shares of the casino operator’s stock valued at $387,423,000 after acquiring an additional 301,918 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

NASDAQ WYNN opened at $78.25 on Monday. Wynn Resorts, Limited has a 1 year low of $35.84 and a 1 year high of $153.41. The company has a debt-to-equity ratio of 11.37, a current ratio of 1.81 and a quick ratio of 1.77. The company has a market capitalization of $8.44 billion, a PE ratio of -21.74 and a beta of 2.52. The company has a fifty day moving average of $74.59 and a 200 day moving average of $107.82.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Wednesday, May 6th. The casino operator reported ($3.54) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($2.49). Wynn Resorts had a negative net margin of 6.49% and a negative return on equity of 17.92%. The company had revenue of $953.70 million for the quarter, compared to analysts’ expectations of $887.81 million. During the same quarter in the previous year, the business posted $1.61 EPS. The business’s quarterly revenue was down 42.2% on a year-over-year basis. Research analysts expect that Wynn Resorts, Limited will post -11.7 earnings per share for the current year.

In other news, CFO Craig Scott Billings sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $84.77, for a total transaction of $508,620.00. Following the sale, the chief financial officer now owns 84,287 shares of the company’s stock, valued at approximately $7,145,008.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by company insiders.

A number of analysts have recently weighed in on the company. Cfra raised Wynn Resorts from a “strong sell” rating to a “hold” rating and lowered their price objective for the stock from $115.00 to $85.00 in a research report on Friday, May 8th. Zacks Investment Research lowered Wynn Resorts from a “hold” rating to a “sell” rating and set a $65.00 price target on the stock. in a research note on Saturday, April 11th. BidaskClub raised shares of Wynn Resorts from a “sell” rating to a “hold” rating in a research report on Thursday, April 9th. Roth Capital lowered their target price on shares of Wynn Resorts from $140.00 to $104.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, TheStreet lowered shares of Wynn Resorts from a “c” rating to a “d+” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $112.38.

About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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