Jupiter Topco LLC Purchases Shares of 32,650 Wynn Resorts, Limited $WYNN

Key Points

• Jupiter Topco LLC acquired 32,650 Wynn Resorts shares during the second quarter, valued at approximately $3.17 million. Institutional investors currently own 88.64% of the company.
• Analysts remain broadly positive, with one Strong Buy, 17 Buy and two Hold ratings. The consensus rating is “Moderate Buy,” with an average price target of $133.82.
• Wynn Resorts exceeded quarterly earnings expectations, reporting $1.24 in EPS versus a $0.99 consensus estimate and $1.86 billion in revenue. The company also paid a quarterly dividend of $0.25 per share, equivalent to a 1.1% annualized yield.

Jupiter Topco LLC acquired a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 32,650 shares of the casino operator's stock, valued at approximately $3,171,000.

Other hedge funds also recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new position in Wynn Resorts during the second quarter valued at approximately $25,000. Hantz Financial Services Inc. increased its stake in shares of Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock worth $30,000 after purchasing an additional 89 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock worth $32,000 after purchasing an additional 156 shares in the last quarter. SHP Wealth Management bought a new stake in shares of Wynn Resorts during the 4th quarter valued at $32,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Wynn Resorts during the 4th quarter valued at $34,000. 88.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on WYNN shares. Wolfe Research assumed coverage on shares of Wynn Resorts in a report on Wednesday. They issued an "outperform" rating and a $128.00 target price for the company. Truist Financial started coverage on Wynn Resorts in a report on Wednesday, July 8th. They set a "buy" rating and a $125.00 price target on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a research note on Wednesday, August 5th. Finally, Mizuho cut their target price on Wynn Resorts from $133.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Wynn Resorts has an average rating of "Moderate Buy" and a consensus price target of $133.82.

Wynn Resorts Stock Performance

WYNN stock opened at $91.52 on Thursday. The company's fifty day moving average price is $98.24 and its 200-day moving average price is $101.86. Wynn Resorts, Limited has a one year low of $89.44 and a one year high of $134.72. The company has a market capitalization of $9.42 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.00.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.25. The company had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. Wynn Resorts's quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $1.09 earnings per share. On average, research analysts predict that Wynn Resorts, Limited will post 4.55 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 14th. Wynn Resorts's payout ratio is currently 24.81%.

Wynn Resorts Company Profile

Wynn Resorts, Limited NASDAQ: WYNN is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.

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