Sequoia Financial Advisors LLC Increases Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Sequoia Financial Advisors LLC increased its stake in Wynn Resorts by 5.9% in the first quarter, buying an additional 45,520 shares to bring its total holdings to 815,698 shares worth about $82.8 million.
• Institutional ownership remains very high, with 88.64% of Wynn Resorts stock held by hedge funds and other institutional investors, and several other funds also raised their positions during the period.
• Analysts remain broadly positive on the stock: the consensus rating is “Moderate Buy” with a consensus price target of $138.75, even though some firms trimmed targets slightly while keeping bullish ratings.

Sequoia Financial Advisors LLC boosted its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 815,698 shares of the casino operator's stock after buying an additional 45,520 shares during the period. Sequoia Financial Advisors LLC owned approximately 0.78% of Wynn Resorts worth $82,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Wynn Resorts by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator's stock valued at $665,000 after purchasing an additional 754 shares during the period. Woodline Partners LP raised its stake in shares of Wynn Resorts by 36.2% during the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator's stock valued at $632,000 after buying an additional 2,012 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings 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 buying an additional 156 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Wynn Resorts by 13.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator's stock valued at $155,000 after buying an additional 201 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in shares of Wynn Resorts by 9.5% in the second quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator's stock worth $937,000 after buying an additional 868 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WYNN has been the subject of a number of analyst reports. Citigroup decreased their price target on Wynn Resorts from $145.00 to $132.00 and set a "buy" rating for the company in a report on Friday, May 8th. Truist Financial began coverage on shares of Wynn Resorts in a report on Wednesday. They set a "buy" rating and a $125.00 target price for the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $137.00 price target on shares of Wynn Resorts in a report on Friday, May 8th. Barclays dropped their price target on shares of Wynn Resorts from $139.00 to $134.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company set a $142.00 price objective on shares of Wynn Resorts and gave the company an "overweight" rating in a report on Sunday, May 10th. 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.75.

More Wynn Resorts News

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Barclays maintained an overweight rating on Wynn Resorts and set a new $134 price target, implying meaningful upside from current levels. Wynn Resorts NASDAQ: WYNN Given New $134.00 Price Target at Barclays
• Positive Sentiment: Brokerage coverage still points to a “Moderate Buy” consensus, suggesting analysts remain broadly constructive on Wynn Resorts. Wynn Resorts, Limited NASDAQ: WYNN Given Consensus Recommendation of "Moderate Buy" by Brokerages
• Positive Sentiment: A Trefis article argues that casino operators with stronger profitability can look undervalued relative to peers, which may support the investment case for Wynn Resorts if investors focus on fundamentals. Same Price, Much Better Business: The LVS Gap
• Neutral Sentiment: Short-interest data showed 0 shares reported as short, making the update difficult to interpret as a real change in trading sentiment.
• Neutral Sentiment: Additional media coverage around Wynn properties and regional development is mostly promotional or informational, with limited direct impact on the stock.
• Negative Sentiment: Barclays did trim its price target from $139 to $134, which may signal slightly less bullish expectations even though the firm remains positive on the shares.

Wynn Resorts Price Performance

WYNN stock traded up $0.94 during trading on Friday, hitting $99.77. The stock had a trading volume of 1,326,350 shares, compared to its average volume of 1,364,643. Wynn Resorts, Limited has a twelve month low of $93.15 and a twelve month high of $134.72. The company's 50-day moving average price is $101.23 and its two-hundred day moving average price is $106.83. The stock has a market capitalization of $10.36 billion, a P/E ratio of 29.78, a PEG ratio of 0.92 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the business posted $1.07 earnings per share. The business's quarterly revenue was up 9.2% compared to the same quarter last year. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 4.61 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts's dividend payout ratio (DPR) is currently 29.85%.

Wynn Resorts 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.