Toronto Dominion Bank Lowers Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Toronto Dominion Bank lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 54.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,125 shares of the casino operator’s stock after selling 34,441 shares during the period. Toronto Dominion Bank’s holdings in Wynn Resorts were worth $2,977,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in shares of Wynn Resorts by 6.7% during the first quarter. Advisors Asset Management Inc. now owns 14,444 shares of the casino operator’s stock worth $1,477,000 after acquiring an additional 908 shares during the period. Delap Wealth Advisory LLC purchased a new position in Wynn Resorts during the 1st quarter worth $327,000. EntryPoint Capital LLC raised its position in Wynn Resorts by 7.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock valued at $178,000 after purchasing an additional 117 shares in the last quarter. Boulder Hill Capital Management LP bought a new position in shares of Wynn Resorts during the 1st quarter worth $3,793,000. Finally, Natixis increased its stake in shares of Wynn Resorts by 24.9% during the first quarter. Natixis now owns 12,600 shares of the casino operator’s stock valued at $1,288,000 after buying an additional 2,514 shares during the period. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Up 1.4 %

WYNN opened at $81.61 on Friday. The firm’s 50-day moving average price is $89.02 and its 200-day moving average price is $95.86. The company has a market cap of $9.15 billion, a P/E ratio of 11.18 and a beta of 1.82. Wynn Resorts, Limited has a 52-week low of $80.02 and a 52-week high of $111.09.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The business’s quarterly revenue was up 30.9% on a year-over-year basis. During the same quarter last year, the company posted $0.29 earnings per share. On average, research analysts anticipate that Wynn Resorts, Limited will post 5.62 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a yield of 1.23%. Wynn Resorts’s payout ratio is presently 13.70%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Wynn Resorts from $132.00 to $131.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Citigroup boosted their price objective on shares of Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Wells Fargo & Company lowered their target price on Wynn Resorts from $128.00 to $126.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Stifel Nicolaus lifted their price target on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Morgan Stanley decreased their price objective on Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.