Josh Arnold Investment Consultant LLC Invests $891,000 in Wynn Resorts, Limited $WYNN

Key Points

• Josh Arnold Investment Consultant LLC invested approximately $891,000 in Wynn Resorts, acquiring 10,675 shares, making it the 12th largest holding in their portfolio.
• Analysts have raised price targets for Wynn Resorts, with average targets now around $123.47, and a consensus rating of "Moderate Buy" from fourteen research analysts.
• Wynn Resorts recently declared a quarterly dividend of $0.25, representing an annualized yield of 0.8% and a payout ratio of 30.03%.

Josh Arnold Investment Consultant LLC bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,675 shares of the casino operator's stock, valued at approximately $891,000. Wynn Resorts makes up approximately 0.7% of Josh Arnold Investment Consultant LLC's portfolio, making the stock its 12th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in Wynn Resorts by 63.5% in the first quarter. AQR Capital Management LLC now owns 108,066 shares of the casino operator's stock worth $8,819,000 after acquiring an additional 41,966 shares in the last quarter. Retirement Planning Co of New England Inc. boosted its holdings in Wynn Resorts by 14.0% in the first quarter. Retirement Planning Co of New England Inc. now owns 2,789 shares of the casino operator's stock worth $233,000 after acquiring an additional 342 shares in the last quarter. Night Squared LP bought a new stake in Wynn Resorts in the first quarter worth $4,409,000. Long Focus Capital Management LLC boosted its holdings in Wynn Resorts by 84.0% in the first quarter. Long Focus Capital Management LLC now owns 300,000 shares of the casino operator's stock worth $25,050,000 after acquiring an additional 137,000 shares in the last quarter. Finally, Kodai Capital Management LP boosted its holdings in Wynn Resorts by 174.5% in the first quarter. Kodai Capital Management LP now owns 239,031 shares of the casino operator's stock worth $19,959,000 after acquiring an additional 151,956 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Price Performance

Wynn Resorts stock traded down $1.99 during mid-day trading on Friday, reaching $120.90. 2,439,928 shares of the stock traded hands, compared to its average volume of 2,044,060. The stock has a market capitalization of $12.57 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 6.22 and a beta of 1.37. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $128.53. The business's 50-day moving average is $111.62 and its 200-day moving average is $94.33.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations 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 was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 EPS. Equities analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on WYNN. Stifel Nicolaus boosted their target price on Wynn Resorts from $113.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Macquarie upped 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. Jefferies Financial Group upped their price target on Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a report on Monday, August 11th. Citigroup reaffirmed a "neutral" rating and set a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group initiated coverage on Wynn Resorts in a report on Monday, July 7th. They set a "buy" rating and a $122.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.47.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 4,438 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director owned 3,066 shares in the company, valued at approximately $383,250. This 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 can be accessed through the SEC website. Company insiders own 0.52% of the company's stock.

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.