LPL Financial LLC Boosts Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

LPL Financial LLC increased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 18.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,226 shares of the casino operator's stock after purchasing an additional 13,533 shares during the quarter. LPL Financial LLC owned approximately 0.08% of Wynn Resorts worth $7,367,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. BOKF NA lifted its stake in Wynn Resorts by 3.9% in the fourth quarter. BOKF NA now owns 3,557 shares of the casino operator's stock valued at $289,000 after acquiring an additional 132 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Wynn Resorts by 1.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator's stock valued at $589,000 after acquiring an additional 132 shares during the last quarter. Snowden Capital Advisors LLC lifted its stake in Wynn Resorts by 5.6% in the fourth quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator's stock valued at $223,000 after acquiring an additional 138 shares during the last quarter. Navalign LLC lifted its stake in Wynn Resorts by 1.8% in the first quarter. Navalign LLC now owns 8,252 shares of the casino operator's stock valued at $689,000 after acquiring an additional 144 shares during the last quarter. Finally, Grassi Investment Management lifted its stake in shares of Wynn Resorts by 4.2% during the 1st quarter. Grassi Investment Management now owns 3,690 shares of the casino operator's stock worth $308,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on WYNN shares. Citigroup restated a "neutral" rating and issued a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Mizuho boosted their target price on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research report on Monday. UBS Group restated a "neutral" rating and issued a $101.00 target price (up from $83.00) on shares of Wynn Resorts in a research report on Tuesday, July 8th. Stifel Nicolaus lifted their price target on shares of Wynn Resorts from $113.00 to $130.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Macquarie lifted their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Wynn Resorts currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.64.

Wynn Resorts Stock Down 0.6%

WYNN traded down $0.67 during trading on Wednesday, hitting $111.82. 1,539,021 shares of the company's stock were exchanged, compared to its average volume of 2,470,515. The business's 50 day moving average is $100.72 and its two-hundred day moving average is $90.08. The stock has a market cap of $11.63 billion, a P/E ratio of 33.58, a PEG ratio of 2.99 and a beta of 1.41. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $112.57.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced 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 firm had revenue of $1.74 billion during 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 business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS. On average, sell-side analysts forecast 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 will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 18th. Wynn Resorts's dividend payout ratio (DPR) is currently 30.03%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the 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 $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is owned by corporate insiders.

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.