DNB Asset Management AS Purchases 802 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

DNB Asset Management AS lifted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 5.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,198 shares of the casino operator’s stock after acquiring an additional 802 shares during the quarter. DNB Asset Management AS’s holdings in Wynn Resorts were worth $1,360,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. boosted its stake in shares of Wynn Resorts by 5.6% during the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after purchasing an additional 7,380 shares in the last quarter. Concord Investment Counsel Inc. bought a new stake in Wynn Resorts during the 1st quarter worth approximately $2,461,000. CIBC Private Wealth Group LLC bought a new position in shares of Wynn Resorts during the fourth quarter valued at $1,376,000. UniSuper Management Pty Ltd lifted its holdings in shares of Wynn Resorts by 540.6% during the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock worth $1,041,000 after purchasing an additional 8,590 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. Institutional investors own 68.87% of the company’s stock.

Insiders Place Their Bets

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the transaction, the director now owns 9,226 shares in the company, valued at approximately $870,842.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $76.56 on Wednesday. The business has a 50-day simple moving average of $86.75 and a 200 day simple moving average of $95.15. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 10.45 and a beta of 1.82. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. On average, sell-side analysts expect that Wynn Resorts, Limited will post 5.62 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on WYNN shares. Barclays raised their target price on Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Thursday, May 23rd. Citigroup upped their target price on Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Jefferies Financial Group lowered their price target on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, StockNews.com raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, July 18th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $119.53.

Wynn Resorts Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.