Private Advisor Group LLC Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Private Advisor Group LLC bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,559 shares of the casino operator’s stock, valued at approximately $958,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Wynn Resorts by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,424,780 shares of the casino operator’s stock valued at $720,104,000 after acquiring an additional 100,246 shares during the period. BlackRock Inc. grew its stake in Wynn Resorts by 0.4% in the first quarter. BlackRock Inc. now owns 6,846,725 shares of the casino operator’s stock valued at $545,957,000 after acquiring an additional 30,460 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Wynn Resorts in the fourth quarter valued at approximately $561,659,000. State Street Corp grew its stake in Wynn Resorts by 0.8% in the third quarter. State Street Corp now owns 3,883,921 shares of the casino operator’s stock valued at $244,804,000 after acquiring an additional 31,684 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Wynn Resorts by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,224,339 shares of the casino operator’s stock valued at $183,123,000 after buying an additional 71,233 shares during the last quarter. 61.88% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

WYNN stock opened at $98.07 on Wednesday. The stock’s fifty day simple moving average is $103.54 and its two-hundred day simple moving average is $106.34. Wynn Resorts, Limited has a 1-year low of $53.81 and a 1-year high of $117.86.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Wednesday, August 9th. The casino operator reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.40. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. The business’s quarterly revenue was up 75.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.82) earnings per share. On average, equities research analysts forecast that Wynn Resorts, Limited will post 2.9 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, August 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. Wynn Resorts’s payout ratio is presently -625.00%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $104.96, for a total value of $104,960.00. Following the sale, the director now directly owns 8,067 shares in the company, valued at $846,712.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Wynn Resorts from $137.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Citigroup lifted their target price on Wynn Resorts from $134.50 to $138.00 in a research report on Wednesday, May 10th. Wells Fargo & Company lifted their target price on Wynn Resorts from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, July 13th. Morgan Stanley lifted their target price on Wynn Resorts from $109.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, July 14th. Finally, Jefferies Financial Group cut Wynn Resorts from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $114.00 in a research report on Thursday, June 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $124.50.

About Wynn Resorts

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.