Callan Family Office LLC Invests $390,000 in Wynn Resorts, Limited $WYNN

Callan Family Office LLC bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 4,163 shares of the casino operator's stock, valued at approximately $390,000.

Other institutional investors also recently modified their holdings of the company. Dagco Inc. acquired a new position in shares of Wynn Resorts during the 1st quarter worth about $25,000. AlphaQuest LLC acquired a new position in shares of Wynn Resorts during the 1st quarter worth about $25,000. Global X Japan Co. Ltd. grew its position in shares of Wynn Resorts by 120.7% during 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 period. Geneos Wealth Management Inc. grew its position in shares of Wynn Resorts by 69.0% during 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 period. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Wynn Resorts during the 2nd quarter worth about $43,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Up 1.7%

Shares of Wynn Resorts stock opened at $118.07 on Thursday. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $134.23. The stock has a market cap of $12.28 billion, a P/E ratio of 35.46, a P/E/G ratio of 6.00 and a beta of 1.31. The business's 50 day moving average is $120.83 and its 200-day moving average is $101.42.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) 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). 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 prior year, the company earned $1.12 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Wynn Resorts's payout ratio is presently 30.03%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WYNN. JPMorgan Chase & Co. began coverage on Wynn Resorts in a report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective on the stock. Citigroup reiterated a "neutral" rating and set a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. The Goldman Sachs Group lifted their price objective on Wynn Resorts from $124.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, October 1st. Barclays lifted their price objective on Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, Mizuho lifted their price objective on Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a report on Monday, August 11th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $127.71.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $383,250. The trade was a 59.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company's stock.

Wynn Resorts 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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