Sei Investments Co. Raises Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Sei Investments Co. increased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 142,350 shares of the casino operator’s stock after acquiring an additional 3,312 shares during the quarter. Sei Investments Co.’s holdings in Wynn Resorts were worth $12,742,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. Interval Partners LP increased its stake in Wynn Resorts by 999.0% in the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock valued at $40,985,000 after purchasing an additional 364,432 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after purchasing an additional 303,033 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Wynn Resorts by 6,720.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock valued at $23,050,000 after purchasing an additional 253,761 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after buying an additional 204,852 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Wynn Resorts by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after buying an additional 166,594 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $97.62 on Friday. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 2.17 and a beta of 1.80. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The company’s fifty day moving average price is $78.63 and its two-hundred day moving average price is $89.28.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results 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 for 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 business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. As a group, analysts anticipate that Wynn Resorts, Limited will post 5.44 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued 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 13.70%.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts 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 $447,894.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WYNN shares. Macquarie restated an “outperform” rating and issued a $126.00 price objective on shares of Wynn Resorts in a report on Wednesday, August 7th. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Stifel Nicolaus reduced their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Jefferies Financial Group cut their price objective 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. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $114.20.

Wynn Resorts Company 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.