LPL Financial LLC Purchases 13,533 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

LPL Financial LLC increased its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 18.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,226 shares of the casino operator’s stock after buying an additional 13,533 shares during the quarter. LPL Financial LLC owned 0.08% of Wynn Resorts worth $7,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in WYNN. Barrow Hanley Mewhinney & Strauss LLC increased its position in Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock valued at $269,308,000 after acquiring an additional 485,204 shares during the period. Jefferies Financial Group Inc. grew its stake in shares of Wynn Resorts by 9.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator’s stock worth $145,059,000 after purchasing an additional 139,270 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of Wynn Resorts in the fourth quarter worth $101,375,000. Deutsche Bank AG increased its holdings in Wynn Resorts by 108.5% in the fourth quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator’s stock valued at $73,118,000 after purchasing an additional 441,558 shares during the period. Finally, Northern Trust Corp raised its position in Wynn Resorts by 6.5% during the 4th quarter. Northern Trust Corp now owns 821,684 shares of the casino operator’s stock worth $70,796,000 after purchasing an additional 50,428 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WYNN shares. UBS Group reiterated a “neutral” rating and issued a $101.00 price target (up previously from $83.00) on shares of Wynn Resorts in a research report on Tuesday, July 8th. The Goldman Sachs Group initiated coverage on shares of Wynn Resorts in a research report on Monday, July 7th. They set a “buy” rating and a $122.00 target price for the company. Stifel Nicolaus boosted their price target on shares of Wynn Resorts from $113.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho decreased their price objective on shares of Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Finally, Citigroup reissued a “neutral” rating and set a $114.00 target price (up previously from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.57.

Insider Activity

In related news, Director Patricia Mulroy sold 2,262 shares of the company’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the sale, the director owned 3,066 shares in the company, valued at $282,439.92. This represents a 42.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Stock Performance

WYNN stock opened at $106.41 on Monday. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $112.36. The stock’s 50 day simple moving average is $99.81 and its 200 day simple moving average is $89.76. The company has a market cap of $11.06 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 2.94 and a beta of 1.41.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company earned $1.12 earnings per share. Wynn Resorts’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, August 18th. Wynn Resorts’s dividend payout ratio (DPR) is currently 30.03%.

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.