Apollon Wealth Management LLC Makes New $205,000 Investment in Wynn Resorts, Limited $WYNN

Key Points

• Apollon Wealth Management LLC has made a new investment of $205,000 in Wynn Resorts by purchasing 2,189 shares during the 2nd quarter.
• Wynn Resorts reported earnings of $1.09 per share, missing estimates, while revenue remained stable at $1.74 billion for the quarter.
• The company has declared a quarterly dividend of $0.25 per share, equating to an annualized yield of 0.8%.

Apollon Wealth Management LLC purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,189 shares of the casino operator's stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dagco Inc. bought a new position in shares of Wynn Resorts in the first quarter worth approximately $25,000. AlphaQuest LLC purchased a new position in Wynn Resorts in the 1st quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its holdings in shares of Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock worth $32,000 after buying an additional 156 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Wynn Resorts during the 2nd quarter valued at $43,000. Finally, Garde Capital Inc. purchased a new stake in shares of Wynn Resorts during the 1st quarter valued at $73,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Trading Up 1.6%

NASDAQ WYNN opened at $117.81 on Monday. The firm has a market cap of $12.25 billion, a PE ratio of 35.38, a price-to-earnings-growth ratio of 6.09 and a beta of 1.31. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $134.23. The stock has a 50-day moving average of $121.23 and a 200-day moving average of $102.23.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly 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). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. Wynn Resorts's revenue was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.25 per share. 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 currently 30.03%.

Analyst Ratings Changes

WYNN has been the subject of several research reports. Stifel Nicolaus upped their target price on shares of Wynn Resorts from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. The Goldman Sachs Group lifted their price target on Wynn Resorts from $124.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Barclays increased their price objective on Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Argus raised Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 price objective on the stock in a report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. upped their target price on Wynn Resorts from $123.00 to $136.00 and gave the stock an "overweight" rating in a research note on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Wynn Resorts has an average rating of "Moderate Buy" and an average price target of $129.64.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the sale, the director owned 3,066 shares of the company's stock, valued at $383,250. This trade represents a 59.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.