Steward Partners Investment Advisory LLC Acquires 3,862 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Steward Partners Investment Advisory LLC raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNNFree Report) by 178.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,029 shares of the casino operator’s stock after purchasing an additional 3,862 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Wynn Resorts were worth $549,000 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. Nordea Investment Management AB raised its position in shares of Wynn Resorts by 130.9% in the 4th quarter. Nordea Investment Management AB now owns 143,480 shares of the casino operator’s stock worth $13,101,000 after acquiring an additional 81,338 shares in the last quarter. Jump Financial LLC raised its position in shares of Wynn Resorts by 28.1% in the 4th quarter. Jump Financial LLC now owns 56,755 shares of the casino operator’s stock worth $5,171,000 after acquiring an additional 12,461 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Wynn Resorts by 51.8% in the 4th quarter. Van ECK Associates Corp now owns 55,787 shares of the casino operator’s stock worth $5,083,000 after acquiring an additional 19,031 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Wynn Resorts in the 4th quarter worth approximately $4,778,000. Finally, Synergy Asset Management LLC bought a new position in shares of Wynn Resorts in the 4th quarter worth approximately $1,150,000. Institutional investors own 68.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WYNN. JPMorgan Chase & Co. increased their target price on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Morgan Stanley upped their price target on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Macquarie upped their price target on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Finally, Stifel Nicolaus upped their price target on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $120.79.

Check Out Our Latest Stock Report on Wynn Resorts

Insider Activity

In other news, Director Betsy S. Atkins sold 2,446 shares of the firm’s 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 transaction, the director now owns 9,226 shares in the company, valued at $870,842.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $92.48 on Friday. The stock’s fifty day moving average is $97.91 and its 200 day moving average is $96.26. The stock has a market cap of $10.36 billion, a P/E ratio of 12.67 and a beta of 1.85. Wynn Resorts, Limited has a one year low of $81.65 and a one year high of $112.25.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The business’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share. Analysts predict that Wynn Resorts, Limited will post 5.58 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. Wynn Resorts’s payout ratio is 13.70%.

Wynn Resorts Profile

(Free Report)

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

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