The Manufacturers Life Insurance Company purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 61,436 shares of the casino operator's stock, valued at approximately $5,965,000. The Manufacturers Life Insurance Company owned about 0.06% of Wynn Resorts as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Wynn Resorts in the second quarter valued at approximately $609,566,000. Sequoia Financial Advisors LLC raised its position in Wynn Resorts by 46.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 770,178 shares of the casino operator's stock valued at $92,676,000 after purchasing an additional 243,179 shares during the period. OneDigital Investment Advisors LLC acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at $1,053,000. Pacer Advisors Inc. grew its holdings in shares of Wynn Resorts by 97.5% during the 4th quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator's stock worth $2,697,000 after purchasing an additional 11,067 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Wynn Resorts during the 2nd quarter worth $321,402,000. Institutional investors and hedge funds own 88.64% of the company's stock.
Wynn Resorts Stock Performance
NASDAQ WYNN opened at $91.28 on Tuesday. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 0.83 and a beta of 1.01. The firm has a 50 day simple moving average of $98.75 and a 200-day simple moving average of $102.15. Wynn Resorts, Limited has a one year low of $90.87 and a one year high of $134.72.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, beating the consensus estimate of $0.99 by $0.25. The company had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The firm's revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 EPS. Equities analysts predict that Wynn Resorts, Limited will post 4.65 EPS for the current fiscal year.
Wynn Resorts Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 14th. Wynn Resorts's dividend payout ratio (DPR) is presently 24.81%.
Wall Street Analysts Forecast Growth
WYNN has been the topic of several research analyst reports. The Goldman Sachs Group set a $120.00 price objective on shares of Wynn Resorts in a report on Wednesday, July 15th. Mizuho dropped their price target on shares of Wynn Resorts from $133.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $137.00 price target on shares of Wynn Resorts in a research note on Friday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of Wynn Resorts from $135.00 to $134.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company dropped their target price on shares of Wynn Resorts from $141.00 to $131.00 and set an "overweight" rating for the company in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $134.19.
Get Our Latest Research Report on WYNN
About Wynn Resorts
(
Free Report)
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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