LMR Partners LLP Reduces Position in Wynn Resorts, Limited (WYNN)

Steve Wynn is the founder and CEO of Wynn Resorts

Sun Life Financial reported 0.02% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN). Following the transaction, the director now directly owns 7,711 shares of the company's stock, valued at $994,719. The insider, MADDOX MATT, now holds 328,426 shares of WYNN. Toronto Dominion Bank now owns 27,068 shares of the casino operator's stock worth $3,629,000 after purchasing an additional 5,593 shares during the last quarter. Wynn Resorts, Limited (NASDAQ:WYNN) has risen 37.63% since January 29, 2017 and is uptrending. Moors & Cabot Inc. bought a new position in shares of Wynn Resorts in the third quarter valued at about $222,000.

Shares of Wynn Resorts Ltd (WYNN) have a 7-day moving average of 187.82. Deutsche Bank now has a $199.00 price objective on the casino operator's stock.

The scandal has forced the tycoon to resign as the Republican Party's finance chairman, sent shares of Wynn Macau and its us -listed parent company tumbling and attracted closer scrutiny from regulators in MA, where Wynn is building a casino. The last session's volume was 22,067,409 compared to its average daily volume of 1.87M shares. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Blackrock Incorporated accumulated 2.65 million shares or 0% of the stock. The shares were sold at an average price of $128.08, for a total transaction of $285,106.08. The disclosure for this sale can be found here.

Insider trading over the last 12 months, however, paints a different picture.

Several equities analysts have recently issued reports on WYNN shares. Morgan Stanley increased their price objective on shares of Wynn Resorts from $151.00 to $158.00 and gave the company an overweight rating in a research note on Friday, October 13th.

On Monday, Wynn Macau stock fell 6.5% in Hong Kong.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Monday, January 22nd.

Basically, a price target is an individual analyst's projection on the future price of a stock.

"If a change in Wynn CEO were to happen and the valuation suffers, we can't help but also think this may attract the attention of other gaming operators since the industry has been in consolidation mode of sorts for a while now and looking to grow free cash flow per share through consolidation". Ten research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. However, at the Wall Street, the shares for the company has been tagged a $197.27 price target, indicating that the shares will rally 20.67% from its current levels. The shares now trade at $17.10 and have been able to report a change of -5.58% over the past one week.

For investors, Forward P/E ratio allows a quick snapshot of the company's finances without getting bogged down in the details of an accounting report. Wynn Resorts has a 12 month low of $92.67 and a 12 month high of $203.63. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of 48.68 and a beta of 1.72. The casino operator reported $1.40 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $1.33 by $0.07. Wynn Resorts had a return on equity of 148.17% and a net margin of 11.85%. The business had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.56 billion. Likewise, the performance for the quarter was recorded as 17.89% and for the year was 46.96%. Crystal Rock has invested 3.3% in Wynn Resorts, Limited (NASDAQ:WYNN). The ex-dividend date is Tuesday, August 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%.

To replace Wynn, the President and the RNC will likely look to another loyalist, which is why Barrack and DeJoy now populate the list.

ILLEGAL ACTIVITY NOTICE: This news story was originally published by Week Herald and is the property of of Week Herald.



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