Exchange Traded Concepts LLC Grows Stock Holdings 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 raised its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 19.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,731 shares of the casino operator's stock after purchasing an additional 3,752 shares during the period. Exchange Traded Concepts LLC's holdings in Wynn Resorts were worth $2,129,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. American Assets Inc. raised its stake in Wynn Resorts by 52.2% during the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock valued at $879,000 after acquiring an additional 3,500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 buying an additional 341 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Wynn Resorts in the fourth quarter worth approximately $479,000. Mackenzie Financial Corp acquired a new stake in shares of Wynn Resorts during the fourth quarter worth approximately $282,000. Finally, Heck Capital Advisors LLC acquired a new position in Wynn Resorts in the 4th quarter valued at approximately $386,000. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Price Performance

NASDAQ:WYNN traded down $3.47 during trading hours on Monday, reaching $126.05. 1,281,330 shares of the stock were exchanged, compared to its average volume of 1,976,245. The stock has a market cap of $13.11 billion, a PE ratio of 37.85, a PEG ratio of 6.59 and a beta of 1.37. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $130.84. The firm has a 50 day moving average of $115.40 and a 200 day moving average of $96.98.

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 for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 earnings per share. Equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors 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 of this dividend was Monday, August 18th. Wynn Resorts's payout ratio is 30.03%.

Insider Activity

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

Analysts Set New Price Targets

WYNN has been the subject of a number of research reports. Jefferies Financial Group lifted their price objective on Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Monday, August 11th. The Goldman Sachs Group started coverage on shares of Wynn Resorts in a report on Monday, July 7th. They set a "buy" rating and a $122.00 price objective for the company. UBS Group upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and increased their target price for the company from $101.00 to $147.00 in a research note on Thursday, August 28th. Macquarie upped their price objective on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, Stifel Nicolaus boosted their price target on shares of Wynn Resorts from $130.00 to $145.00 and gave the company a "buy" rating in a report on Thursday. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Wynn Resorts has an average rating of "Moderate Buy" and an average target price of $125.47.

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.