Wedmont Private Capital Invests $245,000 in Wynn Resorts, Limited $WYNN

Wedmont Private Capital acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,614 shares of the casino operator’s stock, valued at approximately $245,000.

Other large investors have also recently bought and sold shares of the company. Regal Partners Ltd increased its holdings in Wynn Resorts by 21.5% in the first quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator’s stock worth $91,147,000 after purchasing an additional 192,873 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Wynn Resorts by 12.7% during the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator’s stock valued at $82,834,000 after buying an additional 111,428 shares during the last quarter. DAVENPORT & Co LLC purchased a new position in shares of Wynn Resorts during the first quarter valued at approximately $49,476,000. Nuveen LLC purchased a new position in shares of Wynn Resorts during the first quarter valued at approximately $41,731,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Wynn Resorts by 758.8% during the first quarter. Assenagon Asset Management S.A. now owns 386,721 shares of the casino operator’s stock valued at $32,291,000 after buying an additional 341,688 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Trading Up 0.7%

Shares of NASDAQ:WYNN opened at $129.52 on Monday. The stock has a fifty day simple moving average of $115.10 and a two-hundred day simple moving average of $96.72. The stock has a market capitalization of $13.47 billion, a price-to-earnings ratio of 38.90, a PEG ratio of 6.59 and a beta of 1.37. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $130.84.

Wynn Resorts (NASDAQ:WYNN) last posted 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). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the business posted $1.12 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Wynn Resorts’s dividend payout ratio is 30.03%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the transaction, the director directly owned 3,066 shares of the company’s stock, valued at approximately $383,250. This represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WYNN has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price target on Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Wednesday, September 3rd. Macquarie boosted their target price on Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a research note on Monday, June 23rd. They set an “overweight” rating and a $109.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.47.

Wynn Resorts 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.