Columbus Circle Investors reduced its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 4.0% during the first quarter, Holdings Channel reports. The fund owned 726,615 shares of the casino operator’s stock after selling 30,258 shares during the period. Wynn Resorts, Limited comprises 1.2% of Columbus Circle Investors’ investment portfolio, making the stock its 20th largest position. Columbus Circle Investors’ holdings in Wynn Resorts, Limited were worth $83,277,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in Wynn Resorts, Limited by 4.1% in the fourth quarter. State Street Corp now owns 3,281,453 shares of the casino operator’s stock valued at $283,879,000 after buying an additional 129,976 shares during the last quarter. Platinum Investment Management Ltd. increased its stake in Wynn Resorts, Limited by 36.1% in the third quarter. Platinum Investment Management Ltd. now owns 1,712,730 shares of the casino operator’s stock valued at $166,854,000 after buying an additional 454,468 shares during the last quarter. Viking Global Investors LP acquired a new stake in Wynn Resorts, Limited during the fourth quarter valued at about $122,719,000. BlackRock Fund Advisors increased its stake in Wynn Resorts, Limited by 1.9% in the third quarter. BlackRock Fund Advisors now owns 1,270,032 shares of the casino operator’s stock valued at $123,727,000 after buying an additional 23,211 shares during the last quarter. Finally, Thornburg Investment Management Inc. increased its stake in Wynn Resorts, Limited by 18.1% in the fourth quarter. Thornburg Investment Management Inc. now owns 1,018,261 shares of the casino operator’s stock valued at $88,090,000 after buying an additional 156,162 shares during the last quarter. 75.36% of the stock is owned by institutional investors and hedge funds.
Shares of Wynn Resorts, Limited (NASDAQ:WYNN) traded up 1.04% during midday trading on Thursday, reaching $116.13. The company had a trading volume of 8,951 shares. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 48.79 and a beta of 1.90. Wynn Resorts, Limited has a 12-month low of $82.51 and a 12-month high of $119.80. The company has a 50 day moving average of $110.23 and a 200 day moving average of $98.32.
Wynn Resorts, Limited (NASDAQ:WYNN) last issued its earnings results on Thursday, January 26th. The casino operator reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.36. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.26 billion. Wynn Resorts, Limited had a net margin of 5.42% and a return on equity of 5,683.62%. The firm’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same period last year, the business posted $1.03 EPS. Analysts anticipate that Wynn Resorts, Limited will post $4.30 EPS for the current year.
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WYNN has been the subject of several research reports. Zacks Investment Research downgraded shares of Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley reissued an “overweight” rating on shares of Wynn Resorts, Limited in a research report on Thursday, January 19th. Vetr raised shares of Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $116.86 price target for the company in a research report on Wednesday, March 22nd. Susquehanna Bancshares Inc reissued a “neutral” rating on shares of Wynn Resorts, Limited in a research report on Thursday. Finally, TheStreet raised shares of Wynn Resorts, Limited from a “c” rating to a “b-” rating in a research report on Thursday, March 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $109.45.
In related news, EVP John Strzemp sold 20,000 shares of Wynn Resorts, Limited stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $100.38, for a total transaction of $2,007,600.00. Following the sale, the executive vice president now owns 218,323 shares of the company’s stock, valued at approximately $21,915,262.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.60% of the stock is currently owned by company insiders.
About Wynn Resorts, Limited
Wynn Resorts, Limited (Wynn Resorts) 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’s segments include Macau Operations and Las Vegas Operations.
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