Edgestream Partners L.P. lifted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) by 505.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,821 shares of the casino operator’s stock after buying an additional 18,219 shares during the quarter. Edgestream Partners L.P.’s holdings in Wynn Resorts were worth $2,305,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Bartlett & Co. LLC boosted its holdings in Wynn Resorts by 66.7% in the 2nd quarter. Bartlett & Co. LLC now owns 250 shares of the casino operator’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Kistler Tiffany Companies LLC raised its position in shares of Wynn Resorts by 66.7% in the second quarter. Kistler Tiffany Companies LLC now owns 375 shares of the casino operator’s stock valued at $40,000 after buying an additional 150 shares in the last quarter. Garda Capital Partners LP bought a new stake in shares of Wynn Resorts in the first quarter valued at approximately $43,000. Riggs Asset Managment Co. Inc. acquired a new stake in Wynn Resorts during the first quarter worth approximately $44,000. Finally, Acadian Asset Management LLC bought a new position in Wynn Resorts during the 1st quarter worth $45,000. 61.88% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on WYNN shares. StockNews.com began coverage on Wynn Resorts in a research report on Thursday, October 5th. They set a “hold” rating for the company. HSBC initiated coverage on shares of Wynn Resorts in a research note on Monday, October 23rd. They set a “buy” rating and a $111.00 price objective on the stock. Morgan Stanley dropped their target price on shares of Wynn Resorts from $109.00 to $107.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus cut their price target on shares of Wynn Resorts from $135.00 to $125.00 and set a “buy” rating for the company in a report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and an average target price of $120.73.
Insider Activity at Wynn Resorts
In other Wynn Resorts news, Director Patricia Mulroy sold 500 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $97.61, for a total transaction of $48,805.00. Following the sale, the director now directly owns 1,482 shares of the company’s stock, valued at approximately $144,658.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is owned by company insiders.
Wynn Resorts Price Performance
Shares of Wynn Resorts stock opened at $86.87 on Friday. The company’s 50 day moving average price is $90.94 and its two-hundred day moving average price is $99.14. The firm has a market capitalization of $9.81 billion, a P/E ratio of 1,086.01 and a beta of 2.01. Wynn Resorts, Limited has a fifty-two week low of $72.73 and a fifty-two week high of $117.86.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last released its quarterly earnings data on Thursday, November 9th. The casino operator reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.20. Wynn Resorts had a negative return on equity of 6.80% and a net margin of 0.58%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the business posted ($1.20) EPS. Wynn Resorts’s revenue for the quarter was up 87.9% on a year-over-year basis. On average, analysts expect that Wynn Resorts, Limited will post 3.17 earnings per share for the current year.
Wynn Resorts Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, November 17th. Wynn Resorts’s dividend payout ratio is currently 1,250.16%.
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.
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