BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) by 10.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,695 shares of the casino operator’s stock after selling 1,099 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Wynn Resorts were worth $800,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Wynn Resorts by 4.8% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 61,023 shares of the casino operator’s stock valued at $3,846,000 after buying an additional 2,809 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Wynn Resorts by 14.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,537 shares of the casino operator’s stock valued at $2,177,000 after buying an additional 4,260 shares during the period. Teza Capital Management LLC acquired a new stake in shares of Wynn Resorts in the 3rd quarter valued at $232,000. AE Wealth Management LLC increased its stake in shares of Wynn Resorts by 4.5% in the 4th quarter. AE Wealth Management LLC now owns 52,198 shares of the casino operator’s stock valued at $4,305,000 after buying an additional 2,263 shares during the period. Finally, CWM LLC grew its stake in shares of Wynn Resorts by 10.4% during the fourth quarter. CWM LLC now owns 2,014 shares of the casino operator’s stock worth $166,000 after purchasing an additional 189 shares during the period. 70.95% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Wynn Resorts
In related news, CEO Craig Scott Billings sold 10,901 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $103.26, for a total value of $1,125,637.26. Following the completion of the sale, the chief executive officer now directly owns 255,781 shares in the company, valued at $26,411,946.06. The sale was disclosed in a filing with the SEC, which is available at this link. In other Wynn Resorts news, Director Patricia Mulroy sold 1,100 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $101.65, for a total transaction of $111,815.00. Following the completion of the sale, the director now directly owns 1,982 shares in the company, valued at $201,470.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig Scott Billings sold 10,901 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $103.26, for a total value of $1,125,637.26. Following the sale, the chief executive officer now owns 255,781 shares of the company’s stock, valued at $26,411,946.06. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Wynn Resorts Price Performance
Shares of Wynn Resorts stock opened at $100.35 on Friday. Wynn Resorts, Limited has a one year low of $50.20 and a one year high of $117.86. The stock’s 50-day moving average is $108.38 and its 200-day moving average is $100.32. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of -46.89 and a beta of 2.04.
Wynn Resorts (NASDAQ:WYNN – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The casino operator reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.47. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.37 billion. The company’s quarterly revenue was up 49.3% on a year-over-year basis. During the same quarter last year, the firm posted ($1.21) earnings per share. On average, equities analysts expect that Wynn Resorts, Limited will post 1.7 EPS for the current year.
Wynn Resorts Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, May 22nd. Wynn Resorts’s dividend payout ratio (DPR) is currently -46.73%.
About Wynn Resorts
Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, Wynn Interactive and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P.
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