Farther Finance Advisors LLC Buys 851 Shares of Wynn Resorts, Limited $WYNN

Farther Finance Advisors LLC increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 376.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,077 shares of the casino operator’s stock after buying an additional 851 shares during the period. Farther Finance Advisors LLC’s holdings in Wynn Resorts were worth $101,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Dagco Inc. bought a new position in shares of Wynn Resorts during the first quarter valued at approximately $25,000. AlphaQuest LLC bought a new position in shares of Wynn Resorts during the first quarter valued at approximately $25,000. Global X Japan Co. Ltd. increased its stake in shares of Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 156 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Wynn Resorts by 3,408.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator’s stock valued at $35,000 after purchasing an additional 409 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Wynn Resorts in a research note on Monday, June 23rd. They set an “overweight” rating and a $109.00 target price for the company. Morgan Stanley boosted their price objective on shares of Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Stifel Nicolaus boosted their price objective on shares of Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Weiss Ratings restated a “hold (c)” rating on shares of Wynn Resorts in a report on Saturday, September 27th. Finally, The Goldman Sachs Group boosted their price objective on shares of Wynn Resorts from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus price target of $127.33.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the transaction, the director owned 3,066 shares in the company, valued at approximately $383,250. The trade was a 59.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

WYNN opened at $123.66 on Friday. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $134.23. The firm’s fifty day moving average is $119.03 and its 200 day moving average is $99.57. The stock has a market cap of $12.86 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 6.19 and a beta of 1.31.

Wynn Resorts (NASDAQ:WYNN) last released 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 net margin of 5.51% and a negative return on equity of 56.78%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the firm posted $1.12 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

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