MBB Public Markets I LLC Makes New $314,000 Investment in Wynn Resorts, Limited $WYNN

Key Points

• MBB Public Markets I LLC has made a new investment of $314,000 in Wynn Resorts, acquiring 3,762 shares during the first quarter, according to their SEC filing.
• Wynn Resorts recently reported a quarterly EPS of $1.09, which missed analysts' estimates of $1.20, despite having revenues of $1.74 billion.
• Several institutional investors have increased their stakes in Wynn Resorts, with Deutsche Bank AG raising its stake by 108.5% in the fourth quarter, leading to overall institutional ownership of 88.64%.

MBB Public Markets I LLC purchased a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,762 shares of the casino operator's stock, valued at approximately $314,000.

A number of other large investors have also bought and sold shares of WYNN. Dagco Inc. bought a new stake in Wynn Resorts during the 1st quarter worth approximately $25,000. AlphaQuest LLC acquired a new position in Wynn Resorts during the 1st quarter worth $25,000. Global X Japan Co. Ltd. lifted its holdings in Wynn Resorts by 120.7% during the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after buying an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Wynn Resorts by 3,408.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock worth $35,000 after buying an additional 409 shares in the last quarter. Finally, Garde Capital Inc. acquired a new position in Wynn Resorts during the 1st quarter worth $73,000. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

Shares of WYNN stock traded down $2.41 during trading hours on Friday, reaching $121.45. The company had a trading volume of 876,282 shares, compared to its average volume of 2,036,284. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $128.53. The company has a 50 day moving average of $113.64 and a 200 day moving average of $95.37. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of 36.47, a P/E/G ratio of 6.37 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released 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). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company earned $1.12 EPS. Wynn Resorts's quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts forecast 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 $0.25 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Wynn Resorts's dividend payout ratio is currently 30.03%.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director owned 3,066 shares in the company, valued at $383,250. This represents a 59.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citigroup reaffirmed a "neutral" rating and set a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Barclays upped their price objective on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Macquarie upped their price objective on Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. 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 objective on the stock. Finally, Argus raised Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 price target on the stock in a research note on Wednesday, September 3rd. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $124.47.

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.