Brookstone Capital Management Buys Shares of 2,323 Wynn Resorts, Limited $WYNN

Brookstone Capital Management bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,323 shares of the casino operator’s stock, valued at approximately $218,000.

Other institutional investors also recently modified their holdings of the company. Resolute Capital Asset Partners LLC purchased a new stake in shares of Wynn Resorts during the 1st quarter valued at approximately $3,758,000. Oak Harvest Investment Services increased its holdings in shares of Wynn Resorts by 20.8% in the 1st quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator’s stock worth $2,677,000 after buying an additional 5,511 shares during the last quarter. Strs Ohio bought a new position in shares of Wynn Resorts in the 1st quarter worth $7,515,000. Cambridge Investment Research Advisors Inc. raised its position in Wynn Resorts by 21.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,738 shares of the casino operator’s stock worth $1,982,000 after purchasing an additional 4,134 shares during the period. Finally, ARGA Investment Management LP raised its position in Wynn Resorts by 86.9% in the 1st quarter. ARGA Investment Management LP now owns 33,369 shares of the casino operator’s stock worth $2,786,000 after purchasing an additional 15,519 shares during the period. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WYNN shares. Morgan Stanley raised their price target 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. Jefferies Financial Group lifted their price target on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Mizuho lifted their price target on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a research report on Monday, August 11th. Barclays lifted their target price on shares of Wynn Resorts from $101.00 to $127.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.64.

Wynn Resorts Trading Down 3.7%

Shares of WYNN stock opened at $120.85 on Wednesday. The company has a 50 day simple moving average of $122.93 and a two-hundred day simple moving average of $104.79. The stock has a market cap of $12.57 billion, a P/E ratio of 36.29, a P/E/G ratio of 5.13 and a beta of 1.31. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share (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 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 business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company earned $1.12 earnings per share. As a group, equities analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given 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 dividend payout ratio is currently 30.03%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the company’s 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 completion of the transaction, the director owned 3,066 shares in the company, valued at approximately $383,250. This represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.