Trexquant Investment LP Invests $7.23 Million in Wynn Resorts, Limited (WYNN)

Trexquant Investment LP bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 56,894 shares of the casino operator’s stock, valued at approximately $7,229,000. Wynn Resorts accounts for about 0.5% of Trexquant Investment LP’s investment portfolio, making the stock its 21st biggest position. Trexquant Investment LP owned approximately 0.05% of Wynn Resorts at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in shares of Wynn Resorts by 59.7% in the second quarter. Russell Investments Group Ltd. now owns 105,609 shares of the casino operator’s stock valued at $17,653,000 after acquiring an additional 39,469 shares in the last quarter. Wright Investors Service Inc. bought a new stake in shares of Wynn Resorts in the second quarter valued at about $437,000. Korea Investment CORP raised its holdings in shares of Wynn Resorts by 3.2% in the second quarter. Korea Investment CORP now owns 108,383 shares of the casino operator’s stock valued at $18,137,000 after acquiring an additional 3,400 shares in the last quarter. Waddell & Reed Financial Inc. raised its holdings in shares of Wynn Resorts by 281.4% in the second quarter. Waddell & Reed Financial Inc. now owns 247,880 shares of the casino operator’s stock valued at $41,480,000 after acquiring an additional 182,880 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Wynn Resorts by 12.6% in the second quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock valued at $957,788,000 after acquiring an additional 641,845 shares in the last quarter. 71.48% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the company. Sanford C. Bernstein assumed coverage on Wynn Resorts in a report on Thursday, November 15th. They issued an “outperform” rating for the company. Roth Capital decreased their price objective on Wynn Resorts from $210.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, November 8th. Jefferies Financial Group decreased their price objective on Wynn Resorts from $170.00 to $114.00 and set a “hold” rating for the company in a report on Thursday, November 8th. Stifel Nicolaus reduced their target price on shares of Wynn Resorts from $192.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, November 8th. Finally, Morgan Stanley reduced their target price on shares of Wynn Resorts from $139.00 to $130.00 and set a “hold” rating for the company in a report on Thursday, November 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $168.11.

In other news, Director Philip G. Satre bought 9,800 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The shares were purchased at an average price of $103.01 per share, for a total transaction of $1,009,498.00. Following the completion of the transaction, the director now directly owns 100 shares in the company, valued at $10,301. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.95% of the stock is owned by corporate insiders.

Shares of NASDAQ WYNN opened at $104.48 on Friday. The company has a market capitalization of $11.50 billion, a P/E ratio of 19.14, a PEG ratio of 0.79 and a beta of 1.56. Wynn Resorts, Limited has a 52 week low of $92.50 and a 52 week high of $203.63. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.11 and a current ratio of 1.14.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Wednesday, November 7th. The casino operator reported $1.68 EPS for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Wynn Resorts had a net margin of 8.92% and a return on equity of 56.04%. Wynn Resorts’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. Sell-side analysts predict that Wynn Resorts, Limited will post 6.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, November 21st will be given a $0.75 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $3.00 dividend on an annualized basis and a yield of 2.87%. Wynn Resorts’s dividend payout ratio is currently 54.95%.

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About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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