Alpha Paradigm Partners LLC Sells 3,077 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Alpha Paradigm Partners LLC lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 58.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,232 shares of the casino operator’s stock after selling 3,077 shares during the quarter. Alpha Paradigm Partners LLC’s holdings in Wynn Resorts were worth $273,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WYNN. Ameritas Investment Company LLC bought a new stake in shares of Wynn Resorts in the 1st quarter valued at $25,000. Harvest Fund Management Co. Ltd acquired a new stake in Wynn Resorts in the 1st quarter valued at $31,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Wynn Resorts in the 2nd quarter valued at $34,000. Bessemer Group Inc. grew its position in Wynn Resorts by 350.8% in the 2nd quarter. Bessemer Group Inc. now owns 293 shares of the casino operator’s stock valued at $36,000 after purchasing an additional 228 shares during the period. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in Wynn Resorts in the 1st quarter valued at $38,000. Institutional investors own 68.06% of the company’s stock.

In related news, Director Patricia Mulroy sold 400 shares of the business’s stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $97.13, for a total value of $38,852.00. Following the sale, the director now directly owns 8,107 shares in the company, valued at approximately $787,432.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.

WYNN has been the subject of several research reports. Wells Fargo & Company initiated coverage on shares of Wynn Resorts in a research report on Tuesday, September 14th. They issued an “equal weight” rating and a $112.00 price target for the company. Argus downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Friday, September 17th. Bank of America downgraded shares of Wynn Resorts from a “buy” rating to a “neutral” rating in a research report on Monday, August 9th. Morgan Stanley reduced their price target on shares of Wynn Resorts from $138.00 to $113.00 and set an “overweight” rating for the company in a research report on Monday, September 20th. Finally, Citigroup cut their price objective on shares of Wynn Resorts from $120.00 to $99.00 and set a “buy” rating on the stock in a report on Tuesday, September 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $110.71.

NASDAQ WYNN opened at $92.44 on Thursday. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of -6.95 and a beta of 2.40. Wynn Resorts, Limited has a one year low of $67.70 and a one year high of $143.88. The business’s fifty day moving average is $92.65 and its 200-day moving average is $111.60.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Wednesday, August 4th. The casino operator reported ($1.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.41) by $0.29. The firm had revenue of $990.10 million during the quarter, compared to the consensus estimate of $915.70 million. During the same quarter in the prior year, the firm posted ($6.14) earnings per share. The company’s revenue was up 1055.3% on a year-over-year basis. Equities research analysts forecast that Wynn Resorts, Limited will post -5.56 earnings per share for the current fiscal year.

Wynn Resorts Profile

Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P. Wynn, and Kazuo Okada in 2002 and is headquartered in Las Vegas, NV.

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

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