Ameritas Advisory Services LLC Acquires Shares of 464 Wynn Resorts, Limited $WYNN

Ameritas Advisory Services LLC purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 464 shares of the casino operator’s stock, valued at approximately $43,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Wynn Resorts by 1.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator’s stock worth $589,000 after acquiring an additional 132 shares during the period. Navalign LLC grew its holdings in shares of Wynn Resorts by 1.8% during the 1st quarter. Navalign LLC now owns 8,252 shares of the casino operator’s stock worth $689,000 after acquiring an additional 144 shares during the period. Geneos Wealth Management Inc. grew its stake in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the period. Fifth Third Bancorp grew its stake in Wynn Resorts by 7.2% in the first quarter. Fifth Third Bancorp now owns 2,341 shares of the casino operator’s stock worth $195,000 after purchasing an additional 158 shares during the period. Finally, Global X Japan Co. Ltd. grew its stake in Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Wynn Resorts in a research report on Monday, June 23rd. They issued an “overweight” rating and a $109.00 target price on the stock. Barclays upped their target price on shares of Wynn Resorts from $101.00 to $127.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. The Goldman Sachs Group upped 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, October 1st. UBS Group upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $101.00 to $147.00 in a report on Thursday, August 28th. Finally, Mizuho upped their price objective on shares of Wynn Resorts from $122.00 to $126.00 and gave the stock an “outperform” rating in a report on Monday, August 11th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.71.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director directly owned 3,066 shares of the company’s stock, valued at approximately $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Down 6.1%

Shares of NASDAQ WYNN opened at $112.52 on Tuesday. The firm’s 50-day moving average price is $120.44 and its 200-day moving average price is $101.20. The company has a market cap of $11.70 billion, a PE ratio of 33.79, a PEG ratio of 6.00 and a beta of 1.31. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.23.

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

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, August 18th. Wynn Resorts’s dividend payout ratio (DPR) is 30.03%.

About Wynn Resorts

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.