Trade Report: The Wynn Resorts Ltd. (WYNN) Stake Increased by BlackRock Advisors LLC

The Wynn Resorts Ltd. (WYNN) Stake Increased by BlackRock Advisors LLC

BlackRock Advisors LLC boosted its position in Wynn Resorts Ltd. (NASDAQ:WYNN) by 5.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,113 shares of the casino operator’s stock after buying an additional 3,984 shares during the period. BlackRock Advisors LLC owned 0.07% of Wynn Resorts worth $6,627,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Wynn Resorts by 44.1% in the first quarter. IFP Advisors Inc now owns 1,069 shares of the casino operator’s stock worth $100,000 after buying an additional 327 shares during the period. Ngam Advisors L.P. boosted its stake in shares of Wynn Resorts by 31.6% in the first quarter. Ngam Advisors L.P. now owns 20,504 shares of the casino operator’s stock worth $1,916,000 after buying an additional 4,923 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Wynn Resorts by 10.1% in the first quarter. TIAA CREF Investment Management LLC now owns 378,980 shares of the casino operator’s stock worth $35,408,000 after buying an additional 34,732 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Wynn Resorts by 5.0% in the first quarter. Teachers Advisors Inc. now owns 85,306 shares of the casino operator’s stock worth $7,970,000 after buying an additional 4,079 shares during the period. Finally, BlackRock Group LTD boosted its stake in shares of Wynn Resorts by 0.7% in the first quarter. BlackRock Group LTD now owns 635,440 shares of the casino operator’s stock worth $59,370,000 after buying an additional 4,714 shares during the period. Institutional investors and hedge funds own 74.48% of the company’s stock.

Wynn Resorts Ltd. (NASDAQ:WYNN) opened at 94.95 on Friday. Wynn Resorts Ltd. has a 52 week low of $49.95 and a 52 week high of $109.50. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 29.38 and a beta of 1.85. The firm has a 50-day moving average of $98.34 and a 200-day moving average of $96.33.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.16. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. The company earned $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. Equities analysts forecast that Wynn Resorts Ltd. will post $3.77 earnings per share for the current year.

A number of equities research analysts recently issued reports on WYNN shares. Deutsche Bank AG reiterated a “hold” rating on shares of Wynn Resorts in a research report on Sunday, June 26th. Vetr upgraded shares of Wynn Resorts from a “sell” rating to a “buy” rating and set a $96.42 target price for the company in a research report on Tuesday, June 28th. Morgan Stanley restated an “overweight” rating on shares of Wynn Resorts in a research report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Thursday, June 30th. Finally, JPMorgan Chase & Co. cut shares of Wynn Resorts from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $101.00 to $94.00 in a research report on Thursday, July 14th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $101.85.

Wynn Resorts Company Profile

Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.

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