Wynn Resorts, Limited (NASDAQ:WYNN) Shares Bought by Regal Partners Ltd

Key Points

• Regal Partners Ltd increased its stake in Wynn Resorts by 21.5%, owning approximately 1.09 million shares, making it the firm's 3rd largest holding.
• Several analysts have recently upgraded their ratings for Wynn Resorts, with Banks of America and Stifel Nicolaus setting target prices of $100 and $130, respectively, contributing to a consensus rating of "Moderate Buy."
• Wynn Resorts announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 0.9%, with the payment scheduled for August 29th.

Regal Partners Ltd raised its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 21.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,091,578 shares of the casino operator's stock after buying an additional 192,873 shares during the period. Wynn Resorts comprises about 9.2% of Regal Partners Ltd's investment portfolio, making the stock its 3rd biggest holding. Regal Partners Ltd owned 1.04% of Wynn Resorts worth $91,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Dagco Inc. acquired a new stake in shares of Wynn Resorts in the 1st quarter valued at $25,000. Global X Japan Co. Ltd. lifted its stake in shares of Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Wynn Resorts by 3,408.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after purchasing an additional 409 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at $45,000. Finally, Garde Capital Inc. acquired a new stake in shares of Wynn Resorts in the 1st quarter valued at $73,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Analysts Set New Price Targets

WYNN has been the topic of several recent analyst reports. Bank of America upgraded shares of Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Wednesday, May 7th. Stifel Nicolaus lifted their target price on shares of Wynn Resorts from $113.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Argus downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. UBS Group reiterated a "neutral" rating and issued a $101.00 target price (up previously from $83.00) on shares of Wynn Resorts in a report on Tuesday, July 8th. Finally, 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 report on Monday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Wynn Resorts has a consensus rating of "Moderate Buy" and a consensus price target of $118.64.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the transaction, the director directly owned 3,066 shares in the company, valued at $282,439.92. The trade was a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.52% of the company's stock.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $112.49 on Wednesday. The firm's 50-day simple moving average is $100.72 and its 200-day simple moving average is $90.08. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $112.57. The firm has a market cap of $11.70 billion, a P/E ratio of 33.78, a price-to-earnings-growth ratio of 2.99 and a beta of 1.41.

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 for the quarter, missing the consensus estimate 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 business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm posted $1.12 earnings per share. Wynn Resorts's revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, August 18th. Wynn Resorts's payout ratio is 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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