Voya Investment Management LLC Has $2.78 Million Position in Wynn Resorts, Limited $WYNN

Voya Investment Management LLC lessened its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 35.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,655 shares of the casino operator’s stock after selling 11,643 shares during the period. Voya Investment Management LLC’s holdings in Wynn Resorts were worth $2,778,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AlphaQuest LLC acquired a new stake in Wynn Resorts during the first quarter valued at approximately $25,000. State of Wyoming bought a new position in shares of Wynn Resorts during the 1st quarter worth approximately $124,000. Long Focus Capital Management LLC boosted its stake in Wynn Resorts by 84.0% in the 1st quarter. Long Focus Capital Management LLC now owns 300,000 shares of the casino operator’s stock valued at $25,050,000 after buying an additional 137,000 shares in the last quarter. Night Squared LP bought a new stake in Wynn Resorts in the first quarter valued at $4,409,000. Finally, Retirement Planning Co of New England Inc. raised its stake in Wynn Resorts by 14.0% during the first quarter. Retirement Planning Co of New England Inc. now owns 2,789 shares of the casino operator’s stock worth $233,000 after acquiring an additional 342 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Down 0.5%

Shares of NASDAQ:WYNN opened at $124.36 on Friday. The firm has a market cap of $12.93 billion, a P/E ratio of 27.82, a P/E/G ratio of 8.53 and a beta of 1.10. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.72. The company’s 50-day moving average price is $124.47 and its two-hundred day moving average price is $116.62.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. Wynn Resorts had a negative return on equity of 54.88% and a net margin of 7.09%.Wynn Resorts’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 earnings per share. As a group, equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 22.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Macquarie restated an “outperform” rating and issued a $143.00 target price on shares of Wynn Resorts in a research note on Monday, December 8th. Wells Fargo & Company assumed coverage on shares of Wynn Resorts in a report on Tuesday, November 18th. They set an “overweight” rating and a $151.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a report on Monday, December 22nd. Finally, Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.69.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.