Exchange Traded Concepts LLC Has $1.08 Million Position in Wynn Resorts, Limited $WYNN

Exchange Traded Concepts LLC lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 41.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,956 shares of the casino operator’s stock after selling 6,238 shares during the period. Exchange Traded Concepts LLC’s holdings in Wynn Resorts were worth $1,078,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WYNN. Root Financial Partners LLC bought a new stake in shares of Wynn Resorts during the 3rd quarter valued at $26,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of Wynn Resorts in the third quarter worth $31,000. Atlantic Edge Private Wealth Management LLC raised its stake in Wynn Resorts by 400.0% in the third quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in Wynn Resorts in the second quarter valued at about $25,000. Finally, Westside Investment Management Inc. grew its stake in Wynn Resorts by 40.2% during the third quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator’s stock worth $44,000 after buying an additional 97 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Susquehanna reissued a “positive” rating and issued a $133.00 target price on shares of Wynn Resorts in a report on Thursday, February 12th. Wells Fargo & Company reduced their price target on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Mizuho lifted their price objective on shares of Wynn Resorts from $131.00 to $134.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Texas Capital upgraded shares of Wynn Resorts to a “strong-buy” rating in a research report on Thursday, January 8th. Finally, Morgan Stanley cut their target price on Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $138.87.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $102.03 on Friday. The firm’s fifty day moving average price is $107.10 and its two-hundred day moving average price is $117.47. The stock has a market cap of $10.62 billion, a PE ratio of 34.01, a PEG ratio of 11.87 and a beta of 1.04. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company earned $2.42 EPS. Wynn Resorts’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, sell-side analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 23rd. This represents a $1.00 annualized dividend and a yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is currently 33.33%.

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.