2,264 Shares in Wynn Resorts, Limited $WYNN Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. acquired a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,264 shares of the casino operator's stock, valued at approximately $212,000.

Several other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Wynn Resorts by 10.6% during the 1st quarter. GAMMA Investing LLC now owns 3,191 shares of the casino operator's stock valued at $266,000 after acquiring an additional 306 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Wynn Resorts by 404.8% during the first quarter. Janney Montgomery Scott LLC now owns 47,566 shares of the casino operator's stock worth $3,972,000 after purchasing an additional 38,144 shares during the period. Global X Japan Co. Ltd. lifted its position in shares of Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after buying an additional 175 shares during the last quarter. United Advisor Group LLC acquired a new position in shares of Wynn Resorts in the 1st quarter valued at about $367,000. Finally, Garde Capital Inc. acquired a new position in shares of Wynn Resorts in the 1st quarter valued at about $73,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised their target price 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. Morgan Stanley raised their price target on Wynn Resorts from $113.00 to $128.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Mizuho boosted their price objective on Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Argus raised Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 target price on the stock in a research report on Wednesday, September 3rd. Finally, Citigroup restated a "neutral" rating and set a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $129.64.

Insider Transactions at Wynn Resorts

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

Wynn Resorts Stock Up 1.6%

Shares of NASDAQ WYNN opened at $117.81 on Friday. The stock has a market cap of $12.25 billion, a P/E ratio of 35.38, a P/E/G ratio of 5.99 and a beta of 1.31. The firm's 50-day simple moving average is $121.23 and its 200 day simple moving average is $101.89. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $134.23.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.11). The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm's quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 EPS. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

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

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