Sand Hill Global Advisors LLC Raises Stock Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Sand Hill Global Advisors LLC increased its stake in Wynn Resorts by 84.8%, now holding 48,335 shares valued at approximately $4 million.
• Wall Street analysts have a largely positive outlook on Wynn Resorts, with 12 out of 16 analysts rating the stock as a buy and setting an average target price of $118.64.
• The company announced a quarterly dividend of $0.25, resulting in an annualized yield of 0.9%, with the payment scheduled for August 29th.

Sand Hill Global Advisors LLC increased its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 84.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,335 shares of the casino operator's stock after acquiring an additional 22,185 shares during the period. Sand Hill Global Advisors LLC's holdings in Wynn Resorts were worth $4,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dagco Inc. purchased a new position in Wynn Resorts in the 1st quarter worth $25,000. Global X Japan Co. Ltd. raised its stake in shares of Wynn Resorts by 120.7% during the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after buying an additional 175 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of 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 valued at $35,000 after buying an additional 409 shares during the last quarter. Garde Capital Inc. purchased a new position in shares of Wynn Resorts during the 1st quarter valued at about $73,000. Finally, Mather Group LLC. raised its stake in shares of Wynn Resorts by 32.7% during the 1st quarter. Mather Group LLC. now owns 896 shares of the casino operator's stock valued at $75,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WYNN. The Goldman Sachs Group began coverage on Wynn Resorts in a research note on Monday, July 7th. They set a "buy" rating and a $122.00 price objective for the company. JPMorgan Chase & Co. began coverage on Wynn Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective for the company. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Wednesday, May 7th. Stifel Nicolaus lifted their price objective on Wynn Resorts from $113.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Morgan Stanley lifted their price objective on Wynn Resorts from $111.00 to $113.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $118.64.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,262 shares of Wynn Resorts stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the sale, the director directly owned 3,066 shares in the company, valued at approximately $282,439.92. The trade was a 42.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company's stock.

Wynn Resorts Trading Down 1.7%

WYNN stock opened at $109.45 on Monday. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $112.57. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 5.82 and a beta of 1.41. The business's 50-day moving average is $102.32 and its 200 day moving average is $90.64.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the firm posted $1.12 earnings per share. The company's quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, August 18th. Wynn Resorts's payout ratio is presently 30.03%.

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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