Raymond James & Associates increased its position in Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) by 16.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,006 shares of the casino operator’s stock after acquiring an additional 17,161 shares during the period. Raymond James & Associates owned approximately 0.11% of Wynn Resorts worth $11,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WYNN. Allspring Global Investments Holdings LLC lifted its holdings in shares of Wynn Resorts by 267.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,443 shares of the casino operator’s stock worth $1,783,000 after purchasing an additional 12,692 shares during the period. Norden Group LLC acquired a new stake in Wynn Resorts during the 1st quarter valued at approximately $231,000. First Trust Direct Indexing L.P. purchased a new stake in shares of Wynn Resorts in the 1st quarter valued at $260,000. SpiderRock Advisors LLC acquired a new stake in shares of Wynn Resorts in the first quarter worth $418,000. Finally, Van ECK Associates Corp raised its holdings in shares of Wynn Resorts by 19.7% during the first quarter. Van ECK Associates Corp now owns 66,790 shares of the casino operator’s stock worth $6,828,000 after purchasing an additional 11,003 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. Stifel Nicolaus lowered their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Wells Fargo & Company raised their price target on shares of Wynn Resorts from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Susquehanna raised their target price on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. Finally, Barclays upped their price target on Wynn Resorts from $108.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $116.21.
Insiders Place Their Bets
In other 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 transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares in the company, valued at $447,894.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is owned by insiders.
Wynn Resorts Price Performance
WYNN stock opened at $98.62 on Tuesday. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The firm has a market capitalization of $11.05 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 2.54 and a beta of 1.81. The business has a 50 day simple moving average of $88.19 and a 200-day simple moving average of $88.81.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts expect that Wynn Resorts, Limited will post 5.42 EPS for the current 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s 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.
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