Exchange Traded Concepts LLC Grows Position in Wynn Resorts, Limited $WYNN

Key Points

• Exchange Traded Concepts LLC increased its position in Wynn Resorts by 19.8%, acquiring an additional 3,752 shares, bringing its total holdings to 22,731 shares valued at $2,129,000.
• Wynn Resorts reported a Q2 earnings miss with an EPS of $1.09, below the consensus estimate of $1.20, despite revenues meeting expectations at $1.74 billion.
• The company also announced a quarterly dividend of $0.25, resulting in an annualized dividend yield of 0.8%, with a payout ratio of 30.03%.

Exchange Traded Concepts LLC increased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 19.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,731 shares of the casino operator's stock after buying an additional 3,752 shares during the quarter. Exchange Traded Concepts LLC's holdings in Wynn Resorts were worth $2,129,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WYNN. American Assets Inc. lifted its position in Wynn Resorts by 52.2% during the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock worth $879,000 after acquiring an additional 3,500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Wynn Resorts by 5.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,207 shares of the casino operator's stock worth $621,000 after acquiring an additional 341 shares during the period. Woodline Partners LP acquired a new stake in Wynn Resorts during the 4th quarter worth approximately $479,000. Mackenzie Financial Corp acquired a new stake in Wynn Resorts during the 4th quarter worth approximately $282,000. Finally, Heck Capital Advisors LLC acquired a new stake in Wynn Resorts during the 4th quarter worth approximately $386,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director directly owned 3,066 shares in the company, valued at $383,250. This trade represents a 59.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Trading Up 0.7%

Wynn Resorts stock opened at $129.52 on Monday. The firm has a market capitalization of $13.47 billion, a P/E ratio of 38.90, a PEG ratio of 6.59 and a beta of 1.37. The stock has a fifty day moving average price of $115.10 and a 200 day moving average price of $96.72. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $130.84.

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 business had revenue of $1.74 billion during 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 business's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 earnings per share. As a group, equities analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts's dividend payout ratio (DPR) is 30.03%.

Analyst Upgrades and Downgrades

WYNN has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on Wynn Resorts in a research report on Monday, July 7th. They set a "buy" rating and a $122.00 price objective for the company. Stifel Nicolaus increased their price objective on Wynn Resorts from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday. Morgan Stanley raised their price target on Wynn Resorts from $113.00 to $128.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Macquarie raised their price target on Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. initiated coverage on Wynn Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $125.47.

About Wynn Resorts

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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