HighTower Advisors LLC Buys 7,349 Shares of Wynn Resorts, Limited $WYNN

HighTower Advisors LLC increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 96.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,963 shares of the casino operator’s stock after buying an additional 7,349 shares during the quarter. HighTower Advisors LLC’s holdings in Wynn Resorts were worth $1,249,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. American Assets Inc. lifted its position in shares of Wynn Resorts by 52.2% during the fourth quarter. American Assets Inc. now owns 10,200 shares of the casino operator’s stock worth $879,000 after purchasing an additional 3,500 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Wynn Resorts by 2.7% during the fourth quarter. First Trust Advisors LP now owns 85,083 shares of the casino operator’s stock worth $7,331,000 after purchasing an additional 2,251 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Wynn Resorts by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 613,343 shares of the casino operator’s stock worth $52,845,000 after purchasing an additional 13,100 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Wynn Resorts by 0.7% during the fourth quarter. MetLife Investment Management LLC now owns 24,988 shares of the casino operator’s stock worth $2,153,000 after purchasing an additional 177 shares during the last quarter. Finally, State of Tennessee Department of Treasury lifted its position in shares of Wynn Resorts by 73.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator’s stock worth $2,050,000 after purchasing an additional 10,041 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Wynn Resorts in a research report on Monday, July 7th. They set a “buy” rating and a $122.00 target price for the company. Morgan Stanley lifted their target price on Wynn Resorts from $111.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 12th. Citigroup reiterated a “neutral” rating and set a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Mizuho lifted their target price on Wynn Resorts from $122.00 to $126.00 and gave the stock an “outperform” rating in a research report on Monday, August 11th. Finally, Stifel Nicolaus lifted their price objective on Wynn Resorts from $113.00 to $130.00 and gave the company a “buy” rating in a report on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.64.

Wynn Resorts Price Performance

WYNN stock opened at $118.36 on Tuesday. The business has a 50-day moving average price of $105.47 and a 200 day moving average price of $91.89. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $118.56. The company has a market capitalization of $12.31 billion, a P/E ratio of 35.54, a PEG ratio of 6.08 and a beta of 1.41.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 earnings per share. On average, analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a $0.25 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Wynn Resorts’s payout ratio is currently 30.03%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the business’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 completion of the transaction, the director directly owned 3,066 shares in the company, valued at approximately $282,439.92. The trade was a 42.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company’s stock.

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.