Man Group plc Buys Shares of 14,862 Wynn Resorts, Limited $WYNN

Key Points

• Man Group plc acquired 14,862 shares of Wynn Resorts during the second quarter, valued at approximately $1.44 million. Institutional investors and hedge funds collectively own 88.64% of the company.
• Wynn Resorts reported quarterly EPS of $1.24, surpassing the $0.99 consensus estimate, while revenue rose 6.9% year over year to $1.86 billion.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $133.82, well above the stock’s reported $91.52 price. The company also paid a quarterly dividend of $0.25 per share.

Man Group plc bought a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,862 shares of the casino operator's stock, valued at approximately $1,443,000.

Several other institutional investors also recently modified their holdings of the business. MUFG Securities EMEA plc bought a new position in Wynn Resorts in the second quarter valued at approximately $25,000. Hantz Financial Services Inc. raised its position in shares of Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock valued at $30,000 after acquiring an additional 89 shares during the last quarter. SHP Wealth Management acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $32,000. Geneos Wealth Management Inc. lifted its stake in shares of Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock valued at $32,000 after purchasing an additional 156 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Wynn Resorts in the 4th quarter worth $34,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Trading Up 1.0%

Shares of Wynn Resorts stock opened at $91.52 on Thursday. The stock's fifty day simple moving average is $98.24 and its 200 day simple moving average is $101.86. The company has a market capitalization of $9.42 billion, a PE ratio of 22.71, a PEG ratio of 1.09 and a beta of 1.00. Wynn Resorts, Limited has a 12 month low of $89.44 and a 12 month high of $134.72.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.25. The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The company's revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 earnings per share. Analysts predict that Wynn Resorts, Limited will post 4.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $137.00 target price on shares of Wynn Resorts in a report on Friday, May 8th. Mizuho decreased 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. Citigroup reaffirmed a "buy" rating on shares of Wynn Resorts in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Wynn Resorts from $135.00 to $134.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Wynn Resorts has an average rating of "Moderate Buy" and a consensus price target of $133.82.

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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