Wynn Resorts, Limited (NASDAQ:WYNN) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC increased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,744 shares of the casino operator’s stock after acquiring an additional 2,451 shares during the quarter. ProShare Advisors LLC’s holdings in Wynn Resorts were worth $2,483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in WYNN. International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth about $25,000. ICA Group Wealth Management LLC acquired a new stake in Wynn Resorts during the fourth quarter worth approximately $27,000. Register Financial Advisors LLC purchased a new stake in Wynn Resorts in the first quarter valued at $37,000. Neo Ivy Capital Management acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at about $40,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Wynn Resorts in the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at $447,894.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Macquarie reiterated an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and an average price target of $114.20.

Wynn Resorts Stock Performance

Shares of WYNN opened at $97.62 on Friday. The stock has a fifty day moving average of $78.63 and a two-hundred day moving average of $89.28. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The company has a market capitalization of $10.94 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 2.17 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 5.44 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Wynn Resorts Company 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.