PFG Investments LLC Purchases Shares of 2,375 Wynn Resorts, Limited $WYNN

Key Points

• PFG Investments LLC acquired 2,375 shares of Wynn Resorts, valued at approximately $222,000, in the second quarter, according to their SEC filing.
• Multiple hedge funds have increased their stakes in Wynn Resorts, with institutional investors holding 88.64% of the stock.
• Wynn Resorts reported a quarterly EPS of $1.09, missing analysts' expectations, and announced a quarterly dividend of $0.25 per share.

PFG Investments LLC acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,375 shares of the casino operator's stock, valued at approximately $222,000.

A number of other hedge funds have also modified their holdings of the stock. Resolute Capital Asset Partners LLC acquired a new stake in shares of Wynn Resorts during the first quarter worth $3,758,000. Oppenheimer & Co. Inc. purchased a new position in Wynn Resorts in the 1st quarter worth about $1,690,000. Oak Harvest Investment Services raised its holdings in Wynn Resorts by 20.8% during the 1st quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator's stock worth $2,677,000 after buying an additional 5,511 shares during the period. Wedge Capital Management L L P NC raised its holdings in Wynn Resorts by 19.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 56,807 shares of the casino operator's stock worth $4,743,000 after buying an additional 9,298 shares during the period. Finally, Strs Ohio purchased a new stake in Wynn Resorts during the first quarter valued at about $7,515,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on WYNN shares. Jefferies Financial Group lifted their target price on shares of Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. began coverage on shares of Wynn Resorts in a research note on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Mizuho increased their target price on Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a report on Monday, August 11th. Finally, UBS Group raised Wynn Resorts from a "neutral" rating to a "buy" rating and raised their target price for the stock from $101.00 to $147.00 in a research report on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $127.33.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $124.59 on Tuesday. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.23. The firm has a market cap of $12.95 billion, a PE ratio of 37.41, a P/E/G ratio of 6.19 and a beta of 1.31. The firm's 50 day moving average price is $119.29 and its two-hundred day moving average price is $99.98.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (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 company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the business earned $1.12 EPS. The company's quarterly revenue was up .6% on a year-over-year basis. Equities analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 18th. Wynn Resorts's dividend payout ratio is presently 30.03%.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares in the company, valued at $383,250. The trade was a 59.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by company 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.

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