Parallel Advisors LLC Boosts Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Parallel Advisors LLC raised its position in shares of Wynn Resorts, Limited (NASDAQ:WYNNFree Report) by 199.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 776 shares of the casino operator’s stock after purchasing an additional 517 shares during the period. Parallel Advisors LLC’s holdings in Wynn Resorts were worth $71,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its holdings in Wynn Resorts by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock worth $2,542,000 after acquiring an additional 109 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Wynn Resorts by 47.5% in the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after purchasing an additional 140 shares in the last quarter. Mystic Asset Management Inc. raised its position in shares of Wynn Resorts by 1.6% in the third quarter. Mystic Asset Management Inc. now owns 11,131 shares of the casino operator’s stock valued at $1,029,000 after purchasing an additional 175 shares during the period. CWM LLC raised its position in shares of Wynn Resorts by 9.6% in the fourth quarter. CWM LLC now owns 2,354 shares of the casino operator’s stock valued at $214,000 after purchasing an additional 206 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Wynn Resorts by 0.9% in the 4th quarter. Arizona State Retirement System now owns 28,182 shares of the casino operator’s stock worth $2,568,000 after buying an additional 241 shares during the period. 68.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Mizuho started coverage on Wynn Resorts in a research report on Thursday, April 4th. They set a “buy” rating and a $131.00 target price on the stock. Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Barclays increased their price objective on Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Finally, Citigroup upped their price target on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Four 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 company. Based on data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus price target of $120.79.

Get Our Latest Research Report on WYNN

Insider Buying and Selling at Wynn Resorts

In other news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction 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 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 available at this hyperlink. 0.52% of the stock is owned by company insiders.

Wynn Resorts Stock Performance

WYNN stock opened at $92.48 on Friday. Wynn Resorts, Limited has a fifty-two week low of $81.65 and a fifty-two week high of $112.25. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 12.67 and a beta of 1.85. The business’s 50 day moving average price is $97.91 and its two-hundred day moving average price is $96.26.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last announced its 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 firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company’s quarterly revenue was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. Sell-side analysts forecast that Wynn Resorts, Limited will post 5.58 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Friday, May 17th. 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.

See Also

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

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