Northwestern Mutual Wealth Management Co. Invests $1.11 Million in Wynn Resorts, Limited $WYNN

Key Points

• Northwestern Mutual Wealth Management purchased 11,483 Wynn Resorts shares during the second quarter, valued at approximately $1.11 million. Institutional investors collectively own 88.64% of the casino operator.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $134.19, despite several recent target-price reductions.
• Wynn Resorts reported quarterly EPS of $1.24, beating estimates of $0.99, while revenue rose 6.9% year over year to $1.86 billion. The company also announced a $0.25 quarterly dividend, equivalent to a 1.0% annualized yield.

Northwestern Mutual Wealth Management Co. purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,483 shares of the casino operator's stock, valued at approximately $1,115,000.

Several other institutional investors also recently added to or reduced their stakes in WYNN. Hantz Financial Services Inc. boosted its stake in Wynn Resorts by 54.9% in the fourth 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. MUFG Securities EMEA plc purchased a new stake in shares of Wynn Resorts during the 2nd quarter worth approximately $25,000. SHP Wealth Management bought a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $32,000. International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $34,000. Finally, Geneos Wealth Management Inc. lifted its stake in Wynn Resorts by 69.0% in the first 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 last quarter. Institutional investors own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

WYNN has been the topic of several research reports. Bank of America lowered their target price on Wynn Resorts from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Wells Fargo & Company cut their price target on Wynn Resorts from $141.00 to $131.00 and set an "overweight" rating for the company in a research note on Wednesday, August 5th. Zacks Research raised Wynn Resorts from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Wynn Resorts from $135.00 to $134.00 and set an "overweight" rating on the stock in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Wynn Resorts has a consensus rating of "Moderate Buy" and a consensus price target of $134.19.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $98.74 on Wednesday. The stock has a market capitalization of $10.17 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 0.88 and a beta of 1.01. The company's fifty day simple moving average is $99.55 and its two-hundred day simple moving average is $102.77. Wynn Resorts, Limited has a 1 year low of $92.52 and a 1 year high of $134.72.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.25. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. Equities research analysts anticipate that Wynn Resorts, Limited will post 4.63 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.0%. Wynn Resorts's dividend payout ratio (DPR) 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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