Goodman Financial Corp Takes Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Key Points

• Goodman Financial Corp acquired 159,972 shares of Wynn Resorts, valued at approximately $13.36 million, making it 2.9% of their investment portfolio.
• Wynn Resorts recently posted a loss in quarterly earnings, reporting an EPS of $1.07, missing estimates and showing a revenue decline of 8.7% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, representing an annualized yield of 0.91%, with a payout ratio of 27.78%.

Goodman Financial Corp bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 159,972 shares of the casino operator's stock, valued at approximately $13,357,000. Wynn Resorts comprises approximately 2.9% of Goodman Financial Corp's investment portfolio, making the stock its 15th biggest holding. Goodman Financial Corp owned 0.15% of Wynn Resorts at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Global X Japan Co. Ltd. grew its stake in Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after acquiring an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Wynn Resorts by 3,408.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock worth $35,000 after acquiring an additional 409 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new position in Wynn Resorts in the 4th quarter worth about $45,000. Garde Capital Inc. bought a new position in Wynn Resorts in the 1st quarter worth about $73,000. Finally, Mather Group LLC. raised its holdings in shares of Wynn Resorts by 32.7% in the 1st quarter. Mather Group LLC. now owns 896 shares of the casino operator's stock valued at $75,000 after purchasing an additional 221 shares in the last quarter. Institutional investors own 88.64% of the company's stock.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the transaction, the director owned 3,066 shares in the company, valued at approximately $282,439.92. The trade was a 42.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.52% of the company's stock.

Wynn Resorts Stock Down 1.0%

WYNN stock traded down $1.10 during trading on Friday, hitting $107.93. The company had a trading volume of 1,650,865 shares, compared to its average volume of 1,708,547. The firm has a market cap of $11.28 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 3.01 and a beta of 1.41. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $112.36. The firm has a 50-day moving average price of $98.19 and a 200-day moving average price of $88.90.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the business earned $1.59 EPS. Wynn Resorts's revenue for the quarter was down 8.7% on a year-over-year basis. Sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Wynn Resorts's payout ratio is presently 27.78%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Wynn Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price target for the company. Stifel Nicolaus set a $113.00 price target on shares of Wynn Resorts in a report on Wednesday, May 7th. Bank of America upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a report on Wednesday, May 7th. Citigroup restated a "neutral" rating and issued a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Finally, Barclays set a $127.00 price target on shares of Wynn Resorts and gave the company an "overweight" rating in a report on Friday, July 18th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $114.71.

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.