Xponance Inc. Purchases 384 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Xponance Inc. grew its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,846 shares of the casino operator’s stock after acquiring an additional 384 shares during the quarter. Xponance Inc.’s holdings in Wynn Resorts were worth $1,239,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts during the 2nd quarter valued at about $25,000. ICA Group Wealth Management LLC bought a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $27,000. Register Financial Advisors LLC acquired a new position in shares of Wynn Resorts in the 1st quarter worth approximately $37,000. Neo Ivy Capital Management bought a new position in shares of Wynn Resorts during the 4th quarter worth approximately $40,000. Finally, Versant Capital Management Inc acquired a new stake in Wynn Resorts in the 2nd quarter valued at $51,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Trading Up 7.2 %

NASDAQ WYNN opened at $97.62 on Friday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The company has a market capitalization of $10.94 billion, a PE ratio of 13.37, a P/E/G ratio of 2.17 and a beta of 1.80. The stock has a 50-day simple moving average of $78.63 and a 200 day simple moving average of $89.28.

Wynn Resorts (NASDAQ:WYNN) last announced 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). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, sell-side analysts predict 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. Investors of record on Monday, August 19th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis 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%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley upgraded shares of Wynn Resorts from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $97.00 to $104.00 in a research report on Friday. UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Stifel Nicolaus dropped their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Finally, Macquarie reissued an “outperform” rating and set a $126.00 price target on shares of Wynn Resorts in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $114.20.

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.