2,614 Shares in Wynn Resorts, Limited $WYNN Purchased by Wedmont Private Capital

Key Points

• Wedmont Private Capital has invested approximately $245,000 in Wynn Resorts by acquiring 2,614 shares, indicating growing institutional interest in the company.
• Wynn Resorts reported an EPS of $1.09 for the last quarter, falling short of analysts' expectations, while revenue remained stable at $1.74 billion.
• Multiple analysts have recently increased their price targets on Wynn Resorts, with a consensus target of $125.47, reflecting positive sentiment about the company's future performance.

Wedmont Private Capital bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,614 shares of the casino operator's stock, valued at approximately $245,000.

Other institutional investors also recently bought and sold shares of the company. American Assets Inc. lifted its position in shares of Wynn Resorts by 52.2% in the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock worth $879,000 after purchasing an additional 3,500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Wynn Resorts by 5.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,207 shares of the casino operator's stock valued at $621,000 after purchasing an additional 341 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of Wynn Resorts during the 4th quarter valued at $479,000. Mackenzie Financial Corp acquired a new stake in Wynn Resorts in the fourth quarter worth about $282,000. Finally, Heck Capital Advisors LLC acquired a new stake in Wynn Resorts in the fourth quarter worth about $386,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Trading Down 2.7%

WYNN traded down $3.47 during trading on Monday, hitting $126.05. The company's stock had a trading volume of 1,281,330 shares, compared to its average volume of 1,976,245. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $130.84. The business's fifty day simple moving average is $115.40 and its 200 day simple moving average is $96.98. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of 37.85, a P/E/G ratio of 6.59 and a beta of 1.37.

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

Wynn Resorts Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup reaffirmed a "neutral" rating and issued a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Jefferies Financial Group lifted their target price on Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Mizuho lifted their target price on Wynn Resorts from $122.00 to $126.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. Argus raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 price objective on the stock in a report on Wednesday, September 3rd. Finally, Morgan Stanley upped their price objective on shares of Wynn Resorts from $113.00 to $128.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Fourteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Wynn Resorts presently has an average rating of "Moderate Buy" and an average price target of $125.47.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director owned 3,066 shares of the company's stock, valued at approximately $383,250. This represents a 59.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is currently 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.