Focus Financial Network Inc. ADV Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Focus Financial Network Inc. ADV acquired a new position in Wynn Resorts, Limited (NASDAQ:WYNNFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,709 shares of the casino operator’s stock, valued at approximately $429,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of WYNN. Metis Global Partners LLC boosted its stake in Wynn Resorts by 17.4% in the third quarter. Metis Global Partners LLC now owns 3,634 shares of the casino operator’s stock worth $336,000 after purchasing an additional 539 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in shares of Wynn Resorts by 10.7% during the third quarter. Kestra Private Wealth Services LLC now owns 6,963 shares of the casino operator’s stock valued at $643,000 after acquiring an additional 674 shares during the period. Amalgamated Bank lifted its stake in shares of Wynn Resorts by 5.6% during the third quarter. Amalgamated Bank now owns 34,337 shares of the casino operator’s stock valued at $3,173,000 after acquiring an additional 1,815 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of Wynn Resorts during the third quarter valued at $13,610,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Wynn Resorts by 394.2% during the third quarter. Janney Montgomery Scott LLC now owns 47,171 shares of the casino operator’s stock valued at $4,359,000 after acquiring an additional 37,626 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Activity at Wynn Resorts

In other news, Director Betsy S. Atkins sold 2,446 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the sale, the director now directly owns 9,226 shares of the company’s stock, valued at $870,842.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the subject of a number of recent analyst reports. Barclays upped their price objective on Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Susquehanna upped their price objective on Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a report on Thursday, February 8th. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. upped their price objective on Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $120.79.

Get Our Latest Report on WYNN

Wynn Resorts Price Performance

WYNN stock opened at $94.88 on Monday. The stock has a market capitalization of $10.63 billion, a P/E ratio of 13.00 and a beta of 1.85. The business has a 50-day moving average of $98.52 and a 200-day moving average of $96.21. Wynn Resorts, Limited has a fifty-two week low of $81.65 and a fifty-two week high of $112.25.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.16. The company had revenue of $1.86 billion during 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%. Wynn Resorts’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. Equities analysts expect that Wynn Resorts, Limited will post 5.66 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a yield of 1.05%. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

About Wynn Resorts

(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.

Further Reading

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

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