Today: The ING Groep NV invests in 5,135 by purchasing Wynn Resorts Ltd. (WYNN) shares

The ING Groep NV invests in 5,135 by purchasing Wynn Resorts Ltd. (WYNN) shares

ING Groep NV boosted its stake in Wynn Resorts Ltd. (NASDAQ:WYNN) by 130.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,077 shares of the casino operator’s stock after buying an additional 5,135 shares during the period. ING Groep NV’s holdings in Wynn Resorts were worth $823,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WYNN. State Street Corp raised its stake in Wynn Resorts by 1.4% in the first quarter. State Street Corp now owns 3,250,046 shares of the casino operator’s stock worth $303,645,000 after buying an additional 44,681 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Wynn Resorts by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,054,223 shares of the casino operator’s stock worth $191,926,000 after buying an additional 5,427 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Wynn Resorts by 2.6% in the first quarter. Geode Capital Management LLC now owns 685,308 shares of the casino operator’s stock worth $63,903,000 after buying an additional 17,611 shares in the last quarter. BlackRock Group LTD increased its position 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 in the last quarter. Finally, Norges Bank acquired a new position in shares of Wynn Resorts during the fourth quarter worth approximately $38,032,000. Institutional investors own 74.48% of the company’s stock.

Wynn Resorts Ltd. (NASDAQ:WYNN) traded down 0.75% during mid-day trading on Friday, reaching $97.01. The company had a trading volume of 2,166,200 shares. Wynn Resorts Ltd. has a 52-week low of $49.95 and a 52-week high of $109.50. The company’s 50 day moving average is $98.21 and its 200 day moving average is $96.22. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 30.02 and a beta of 1.85.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities analysts predict that Wynn Resorts Ltd. will post $3.77 earnings per share for the current year.

A number of research analysts recently commented on WYNN shares. Deutsche Bank AG reissued a “hold” rating on shares of Wynn Resorts in a report on Sunday, June 26th. Vetr raised Wynn Resorts from a “sell” rating to a “buy” rating and set a $96.42 price target for the company in a report on Tuesday, June 28th. Morgan Stanley reissued an “overweight” rating on shares of Wynn Resorts in a report on Wednesday, June 29th. Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a report on Thursday, June 30th. Finally, JPMorgan Chase & Co. downgraded Wynn Resorts from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $101.00 to $94.00 in a 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 assigned a buy rating and one has given a strong buy rating to the stock. Wynn Resorts has a consensus rating of “Buy” and an average price target of $101.91.

About Wynn Resorts

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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