Janney Montgomery Scott LLC Has $6.18 Million Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Janney Montgomery Scott LLC increased its holdings in Wynn Resorts by 38.7% in Q2 2023, now owning 65,996 shares valued at approximately $6.18 million.
• Wynn Resorts reported Q2 earnings of $1.09 EPS, missing the consensus estimate of $1.20, while revenue met expectations at $1.74 billion.
• The company announced a quarterly dividend of $0.25 per share, with a current dividend yield of 0.8% and a payout ratio of 30.03%.

Janney Montgomery Scott LLC increased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 38.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 65,996 shares of the casino operator's stock after acquiring an additional 18,430 shares during the period. Janney Montgomery Scott LLC owned 0.06% of Wynn Resorts worth $6,182,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WYNN. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Wynn Resorts by 3,408.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after purchasing an additional 409 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Wynn Resorts by 19.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 56,807 shares of the casino operator's stock worth $4,743,000 after buying an additional 9,298 shares during the period. GAMMA Investing LLC grew its stake in Wynn Resorts by 10.6% in the 1st quarter. GAMMA Investing LLC now owns 3,191 shares of the casino operator's stock valued at $266,000 after buying an additional 306 shares during the last quarter. SG Americas Securities LLC raised its holdings in Wynn Resorts by 38.7% in the 1st quarter. SG Americas Securities LLC now owns 27,370 shares of the casino operator's stock worth $2,285,000 after acquiring an additional 7,640 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Wynn Resorts by 758.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 386,721 shares of the casino operator's stock worth $32,291,000 after acquiring an additional 341,688 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Trading Up 0.8%

NASDAQ WYNN opened at $124.59 on Tuesday. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $134.23. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 6.19 and a beta of 1.31. The stock's 50 day moving average is $119.29 and its two-hundred day moving average is $99.98.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted 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 company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.Wynn Resorts's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 EPS. On average, analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a $0.25 dividend. 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 payout ratio is currently 30.03%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WYNN. Mizuho raised their price target on Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. initiated coverage on Wynn Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price on the stock. Stifel Nicolaus upped their price target on Wynn Resorts from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Weiss Ratings reissued a "hold (c)" rating on shares of Wynn Resorts in a research report on Saturday, September 27th. Finally, Macquarie boosted their target price on shares of Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $127.33.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the sale, the director owned 3,066 shares of the company's stock, valued at approximately $383,250. This represents a 59.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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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