Fifth Third Bancorp Acquires 7,309 Shares of Wynn Resorts, Limited $WYNN

Fifth Third Bancorp increased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 288.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,847 shares of the casino operator’s stock after purchasing an additional 7,309 shares during the period. Fifth Third Bancorp’s holdings in Wynn Resorts were worth $1,000,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Wynn Resorts by 10.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after buying an additional 754 shares during the period. Woodline Partners LP lifted its position in shares of Wynn Resorts by 36.2% during the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after acquiring an additional 2,012 shares during the period. Geneos Wealth Management Inc. boosted its stake in Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after acquiring an additional 156 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Wynn Resorts by 13.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock worth $155,000 after acquiring an additional 201 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in Wynn Resorts by 9.5% in the second quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock worth $937,000 after purchasing an additional 868 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WYNN shares. Mizuho decreased their price target on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Morgan Stanley restated an “overweight” rating and issued a $128.00 target price on shares of Wynn Resorts in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. The Goldman Sachs Group set a $120.00 price target on Wynn Resorts in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. cut their price target on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $135.94.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $96.92 on Monday. The company has a 50-day moving average price of $100.21 and a 200-day moving average price of $104.86. The stock has a market capitalization of $10.06 billion, a P/E ratio of 28.93, a P/E/G ratio of 0.95 and a beta of 0.99. Wynn Resorts, Limited has a 1 year low of $92.52 and a 1 year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 4.49 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio is 29.85%.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.