FNY Investment Advisers LLC Purchases New Shares in Wynn Resorts, Limited $WYNN

Key Points

• FNY Investment Advisers LLC has acquired a new stake in Wynn Resorts, purchasing 9,035 shares valued at approximately $846,000.
• Analyst ratings for Wynn Resorts are optimistic, with thirteen analysts rating the stock as a Buy and target prices rising up to $145.00.
• Wynn Resorts recently declared a quarterly dividend of $0.25 per share, representing a 0.8% dividend yield.

FNY Investment Advisers 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 filing with the Securities & Exchange Commission. The fund purchased 9,035 shares of the casino operator's stock, valued at approximately $846,000.

Other institutional investors also recently bought and sold shares of the company. DAVENPORT & Co LLC bought a new position in shares of Wynn Resorts in the 1st quarter worth approximately $49,476,000. Nuveen LLC bought a new position in shares of Wynn Resorts in the 1st quarter worth approximately $41,731,000. Regal Partners Ltd raised its position in shares of Wynn Resorts by 21.5% in the 1st quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock worth $91,147,000 after acquiring an additional 192,873 shares in the last quarter. Goodman Financial Corp bought a new position in shares of Wynn Resorts during the first quarter valued at approximately $13,357,000. Finally, Kodai Capital Management LP increased its stake in shares of Wynn Resorts by 174.5% during the first quarter. Kodai Capital Management LP now owns 239,031 shares of the casino operator's stock valued at $19,959,000 after purchasing an additional 151,956 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on WYNN. Barclays raised their target price on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Morgan Stanley raised their target price on shares of Wynn Resorts from $113.00 to $128.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Wynn Resorts in a research note on Tuesday, October 14th. Argus raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 target price for the company in a research note on Wednesday, September 3rd. Finally, Mizuho raised their target price on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Wynn Resorts has a consensus rating of "Moderate Buy" and an average price target of $129.64.

Insider Buying and Selling 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 shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the transaction, the director owned 3,066 shares in the company, valued at $383,250. This trade represents a 59.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $121.13 on Wednesday. The company's fifty day simple moving average is $121.67 and its 200-day simple moving average is $102.72. The stock has a market capitalization of $12.59 billion, a PE ratio of 36.38, a P/E/G ratio of 6.26 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.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.11). The business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The company's revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 EPS. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

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

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.

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.